Samsara (NYSE:IOT) Stock Rating Lowered by StockNews.com

Samsara (NYSE:IOT) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

Other research analysts have also recently issued reports about the stock. Piper Sandler reaffirmed a “neutral” rating and set a $36.00 target price on shares of Samsara in a report on Friday, June 28th. Bank of America started coverage on Samsara in a research note on Thursday, June 20th. They set a “buy” rating and a $37.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 target price on shares of Samsara in a report on Wednesday, June 26th. Loop Capital restated a “buy” rating and issued a $42.00 price target on shares of Samsara in a research report on Friday, June 28th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $44.00 price objective on shares of Samsara in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.17.

Samsara Price Performance

IOT traded down $0.05 during trading on Monday, hitting $38.18. The stock had a trading volume of 1,368,378 shares, compared to its average volume of 3,697,212. The company has a 50 day moving average price of $34.35 and a 200-day moving average price of $35.06. Samsara has a one year low of $21.48 and a one year high of $42.28. The firm has a market cap of $21.03 billion, a price-to-earnings ratio of -76.36 and a beta of 1.49.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, June 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. The company had revenue of $280.73 million during the quarter, compared to analysts’ expectations of $272.51 million. As a group, sell-side analysts predict that Samsara will post -0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider John Bicket sold 81,486 shares of Samsara stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $37.04, for a total value of $3,018,241.44. Following the completion of the transaction, the insider now owns 96,000 shares in the company, valued at $3,555,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Samsara news, insider John Bicket sold 81,486 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $37.04, for a total value of $3,018,241.44. Following the completion of the transaction, the insider now owns 96,000 shares in the company, valued at approximately $3,555,840. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjit Biswas sold 81,515 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $37.04, for a total transaction of $3,019,315.60. Following the completion of the transaction, the chief executive officer now owns 96,000 shares of the company’s stock, valued at $3,555,840. The disclosure for this sale can be found here. Insiders sold 1,745,515 shares of company stock valued at $61,043,014 over the last ninety days. 60.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Samsara

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. lifted its position in Samsara by 18.1% in the second quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock valued at $924,499,000 after purchasing an additional 4,207,974 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Samsara by 18.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after acquiring an additional 2,797,326 shares during the period. Vanguard Group Inc. grew its holdings in shares of Samsara by 12.1% in the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after acquiring an additional 1,841,149 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of Samsara by 102.1% in the first quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after buying an additional 3,853,400 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Samsara by 12.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock worth $84,225,000 after acquiring an additional 243,170 shares during the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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.