Samsara (NYSE:IOT) Sees Large Volume Increase After Analyst Upgrade

Samsara Inc. (NYSE:IOT) shares saw unusually-strong trading volume on Monday after StockNews.com upgraded the stock from a sell rating to a hold rating. Approximately 2,254,119 shares were traded during trading, a decline of 39% from the previous session’s volume of 3,666,215 shares.The stock last traded at $44.59 and had previously closed at $44.02.

Other analysts have also recently issued reports about the stock. Piper Sandler increased their price target on shares of Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday. Loop Capital increased their target price on shares of Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Friday. Royal Bank of Canada boosted their price objective on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. lifted their price target on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Truist Financial raised their target price on shares of Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.07.

Insider Activity at Samsara

In other news, Director Marc L. Andreessen sold 277,484 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $28.88, for a total value of $8,013,737.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Marc L. Andreessen sold 277,484 shares of Samsara stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.88, for a total transaction of $8,013,737.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total value of $2,831,040.00. Following the completion of the transaction, the chief executive officer now owns 1,466,299 shares in the company, valued at $43,241,157.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,779,696 shares of company stock worth $63,804,118. 60.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Samsara

A number of large investors have recently modified their holdings of IOT. Charles Schwab Investment Management Inc. raised its position in Samsara by 9.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 969,429 shares of the company’s stock worth $32,360,000 after purchasing an additional 79,773 shares during the period. Montag A & Associates Inc. grew its position in Samsara by 1,200.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock worth $43,000 after acquiring an additional 1,200 shares during the last quarter. AGF Management Ltd. bought a new stake in Samsara in the fourth quarter valued at approximately $6,450,000. Jump Financial LLC purchased a new stake in shares of Samsara during the fourth quarter valued at approximately $3,204,000. Finally, Nvwm LLC bought a new stake in Samsara during the 4th quarter valued at $552,000. 89.39% of the stock is owned by hedge funds and other institutional investors.

Samsara Trading Up 1.9 %

The company’s 50-day simple moving average is $38.12 and its two-hundred day simple moving average is $36.08.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative return on equity of 20.58% and a negative net margin of 24.19%. Samsara’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.11) EPS. As a group, equities research analysts expect that Samsara Inc. will post -0.39 earnings per share for the current fiscal year.

About Samsara

Samsara Inc provides solutions that connects physical operations data to its connected operations cloud in the United States and internationally. The company's Connected Operations Cloud includes Data Platform, which ingests, aggregates, and enriches data from its IoT devices and has embedded capabilities for AI, workflows and analytics, alerts, API connections, and data security and privacy.