Royal Bank of Canada Has Lowered Expectations for Samsara (NYSE:IOT) Stock Price

Samsara (NYSE:IOT) had its target price lowered by stock analysts at Royal Bank of Canada from $64.00 to $54.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 52.91% from the company’s current price.

Several other research analysts also recently commented on IOT. Raymond James assumed coverage on Samsara in a research note on Wednesday, February 26th. They set a “market perform” rating for the company. Truist Financial reduced their target price on Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research note on Friday. Loop Capital boosted their price target on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Morgan Stanley boosted their price target on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Finally, BMO Capital Markets reduced their price target on Samsara from $57.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $49.60.

Samsara Trading Down 15.7 %

Shares of NYSE IOT opened at $35.32 on Friday. Samsara has a 12 month low of $27.14 and a 12 month high of $61.90. The stock has a 50 day moving average of $49.02 and a 200-day moving average of $48.31. The company has a market capitalization of $19.82 billion, a P/E ratio of -75.14 and a beta of 1.63.

Insider Transactions at Samsara

In other news, insider Sanjit Biswas sold 145,392 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $44.27, for a total transaction of $6,436,503.84. Following the completion of the transaction, the insider now owns 120,000 shares of the company’s stock, valued at approximately $5,312,400. The trade was a 54.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam Eltoukhy sold 9,043 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $53.88, for a total value of $487,236.84. Following the transaction, the insider now directly owns 331,106 shares of the company’s stock, valued at $17,839,991.28. This trade represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,389,912 shares of company stock valued at $65,081,064. Corporate insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cim LLC grew its position in Samsara by 1.3% during the 4th quarter. Cim LLC now owns 31,164 shares of the company’s stock worth $1,362,000 after acquiring an additional 386 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Samsara in the 4th quarter valued at about $1,100,000. Windmill Hill Asset Management Ltd grew its position in shares of Samsara by 25.0% in the 4th quarter. Windmill Hill Asset Management Ltd now owns 5,974 shares of the company’s stock valued at $261,000 after buying an additional 1,195 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Samsara by 10.9% in the 4th quarter. Toronto Dominion Bank now owns 29,435 shares of the company’s stock valued at $1,286,000 after buying an additional 2,899 shares during the last quarter. Finally, Cache Advisors LLC bought a new stake in shares of Samsara in the 4th quarter valued at about $227,000. Institutional investors own 96.02% 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.