Truist Financial Has Lowered Expectations for Samsara (NYSE:IOT) Stock Price

Samsara (NYSE:IOT) had its price objective cut by investment analysts at Truist Financial from $50.00 to $42.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 18.93% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Piper Sandler boosted their price target on Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. BMO Capital Markets decreased their target price on Samsara from $57.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday. Morgan Stanley lifted their price target on shares of Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Loop Capital boosted their price objective on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Berenberg Bank began coverage on shares of Samsara in a research note on Monday, February 3rd. They issued a “hold” rating and a $57.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $49.60.

Samsara Trading Down 15.7 %

Samsara stock opened at $35.32 on Friday. The company has a market capitalization of $19.82 billion, a P/E ratio of -75.14 and a beta of 1.63. Samsara has a 1-year low of $27.14 and a 1-year high of $61.90. The firm’s fifty day simple moving average is $49.02 and its 200-day simple moving average is $48.31.

Insiders Place Their Bets

In other Samsara news, insider Sanjit Biswas sold 145,392 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $44.27, for a total value of $6,436,503.84. Following the sale, the insider now owns 120,000 shares of the company’s stock, valued at $5,312,400. The trade was a 54.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Adam Eltoukhy sold 9,043 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $53.88, for a total transaction 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. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,389,912 shares of company stock worth $65,081,064. 60.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its stake in shares of Samsara by 77.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock valued at $91,000 after purchasing an additional 821 shares during the period. State of New Jersey Common Pension Fund D grew its position in Samsara by 2.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 78,287 shares of the company’s stock valued at $3,767,000 after acquiring an additional 2,114 shares during the period. Baillie Gifford & Co. raised its stake in Samsara by 23.4% during the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after acquiring an additional 6,411,178 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Samsara by 100.4% during the third quarter. Rakuten Securities Inc. now owns 46,903 shares of the company’s stock valued at $2,257,000 after acquiring an additional 23,495 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Samsara by 4.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 376,283 shares of the company’s stock valued at $18,107,000 after purchasing an additional 16,528 shares in the last quarter. Institutional investors and hedge funds 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.