Samsara (NYSE:IOT) Reaches New 1-Year High at $47.79

Samsara Inc. (NYSE:IOT) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $47.79 and last traded at $47.21, with a volume of 751443 shares traded. The stock had previously closed at $47.44.

Analyst Ratings Changes

A number of research firms have recently issued reports on IOT. JPMorgan Chase & Co. lifted their price objective on shares of Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Morgan Stanley lifted their price objective on shares of Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Piper Sandler lifted their price objective on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. BMO Capital Markets lifted their price objective on shares of Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada boosted their price target on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Samsara currently has a consensus rating of “Moderate Buy” and an average target price of $42.07.

Samsara Stock Down 3.0 %

The business’s 50-day simple moving average is $39.21 and its 200-day simple moving average is $36.55. The stock has a market cap of $25.35 billion, a PE ratio of -94.88 and a beta of 1.50.

Samsara (NYSE:IOT) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The company had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. During the same quarter in the previous year, the company earned ($0.11) earnings per share. Samsara’s quarterly revenue was up 36.9% on a year-over-year basis. As a group, equities research analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Samsara

In related news, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $29.49, for a total transaction of $2,831,040.00. Following the transaction, the chief executive officer now owns 1,466,299 shares in the company, valued at $43,241,157.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Samsara news, insider Adam Eltoukhy sold 9,471 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $37.79, for a total value of $357,909.09. Following the sale, the insider now owns 465,967 shares in the company, valued at $17,608,892.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $2,831,040.00. Following the completion of the sale, the chief executive officer now owns 1,466,299 shares in the company, valued at approximately $43,241,157.51. The disclosure for this sale can be found here. Insiders have sold 1,858,859 shares of company stock worth $73,525,632 over the last 90 days. 60.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IOT. Resources Management Corp CT ADV lifted its stake in shares of Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after buying an additional 490 shares in the last quarter. Quarry LP bought a new position in shares of Samsara in the fourth quarter worth approximately $37,000. National Bank of Canada FI bought a new position in shares of Samsara in the second quarter worth approximately $38,000. Nemes Rush Group LLC bought a new position in shares of Samsara in the second quarter worth approximately $45,000. Finally, Tradition Wealth Management LLC bought a new position in shares of Samsara in the fourth quarter worth approximately $46,000. Institutional investors own 89.39% of the company’s stock.

Samsara Company Profile

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.