Samsara Inc. (NYSE:IOT) Receives $51.29 Average Target Price from Brokerages

Shares of Samsara Inc. (NYSE:IOT) have been assigned an average recommendation of “Hold” from the fourteen analysts that are currently covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $51.29.

A number of research firms have recently commented on IOT. Bank of America upped their price objective on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada increased their price target on shares of Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Loop Capital boosted their price objective on shares of Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Wells Fargo & Company increased their target price on Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, BNP Paribas started coverage on Samsara in a research note on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price target for the company.

Samsara Stock Down 0.2 %

IOT stock opened at $45.55 on Friday. The stock’s fifty day simple moving average is $49.97 and its 200-day simple moving average is $43.17. Samsara has a 52-week low of $27.14 and a 52-week high of $57.51. The stock has a market capitalization of $25.56 billion, a price-to-earnings ratio of -96.91 and a beta of 1.53.

Insider Transactions at Samsara

In related news, CEO Sanjit Biswas sold 75,594 shares of Samsara stock in a transaction on Monday, November 25th. The shares were sold at an average price of $55.89, for a total transaction of $4,224,948.66. Following the sale, the chief executive officer now owns 120,292 shares of the company’s stock, valued at $6,723,119.88. The trade was a 38.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Adam Eltoukhy sold 23,960 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $43.81, for a total transaction of $1,049,687.60. Following the completion of the transaction, the insider now directly owns 331,106 shares of the company’s stock, valued at approximately $14,505,753.86. The trade was a 6.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,380,718 shares of company stock valued at $68,978,494. Corporate insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

A number of institutional investors have recently made changes to their positions in IOT. Resources Management Corp CT ADV grew its position in shares of Samsara by 104.0% during 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. Hobbs Group Advisors LLC acquired a new position in Samsara during the 3rd quarter worth $34,000. National Bank of Canada FI bought a new stake in shares of Samsara in the 2nd quarter worth about $38,000. Nemes Rush Group LLC acquired a new stake in shares of Samsara in the 2nd quarter valued at about $45,000. Finally, Continuum Advisory LLC lifted its position in shares of Samsara by 39.1% during the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after purchasing an additional 247 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

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.