Samsara (NYSE:IOT) Price Target Cut to $48.00 by Analysts at BMO Capital Markets

Samsara (NYSE:IOT) had its price objective decreased by BMO Capital Markets from $57.00 to $48.00 in a research report sent to investors on Friday morning, MarketBeat reports. BMO Capital Markets currently has a market perform rating on the stock.

IOT has been the topic of several other research reports. Truist Financial raised their target price on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Loop Capital lifted their price target on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Raymond James assumed coverage on Samsara in a research note on Wednesday, February 26th. They issued a “market perform” rating for the company. Morgan Stanley boosted their price objective 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, StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Samsara presently has a consensus rating of “Hold” and an average target price of $49.60.

Samsara Stock Performance

Shares of NYSE IOT opened at $35.32 on Friday. Samsara has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The firm has a market capitalization of $19.82 billion, a PE ratio of -75.14 and a beta of 1.63. The stock’s 50-day simple moving average is $49.21 and its 200-day simple moving average is $48.29.

Insider Buying and Selling

In other Samsara news, Director Jonathan Chadwick sold 22,500 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $45.37, for a total value of $1,020,825.00. Following the sale, the director now owns 396,079 shares of the company’s stock, valued at approximately $17,970,104.23. This represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $45.92, for a total value of $5,160,489.60. The disclosure for this sale can be found here. Insiders have sold 1,389,912 shares of company stock valued at $65,081,064 over the last quarter. Company insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

Large investors have recently bought and sold shares of the company. NewEdge Advisors LLC grew its holdings in Samsara by 262.0% in the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after purchasing an additional 414 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in Samsara in the fourth quarter valued at $31,000. Hobbs Group Advisors LLC acquired a new stake in shares of Samsara during the third quarter valued at $34,000. IFP Advisors Inc boosted its stake in shares of Samsara by 290.3% during the fourth quarter. IFP Advisors Inc now owns 804 shares of the company’s stock valued at $35,000 after acquiring an additional 598 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Samsara during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 96.02% 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.