Samsara Inc. (NYSE:IOT) Given Average Recommendation of “Moderate Buy” by Brokerages

Samsara Inc. (NYSE:IOT) has earned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $49.60.

Several equities analysts have recently commented on IOT shares. Craig Hallum restated a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Cowen restated a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Royal Bank of Canada cut their price target on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Wells Fargo & Company decreased their price objective on Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Finally, Truist Financial cut their target price on Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a research note on Friday, March 7th.

Samsara Price Performance

Shares of IOT opened at $33.51 on Friday. Samsara has a 12 month low of $27.14 and a 12 month high of $61.90. The stock has a fifty day moving average price of $46.30 and a 200 day moving average price of $47.67. The company has a market cap of $19.08 billion, a P/E ratio of -71.30 and a beta of 1.71.

Insiders Place Their Bets

In related news, insider Sanjit Biswas sold 59,114 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.25, for a total value of $2,674,908.50. Following the completion of the transaction, the insider now owns 196,678 shares in the company, valued at $8,899,679.50. This trade represents a 23.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Dominic Phillips sold 21,157 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $38.37, for a total value of $811,794.09. Following the sale, the insider now owns 638,642 shares in the company, valued at approximately $24,504,693.54. The trade was a 3.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,628,453 shares of company stock worth $71,145,841. 60.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Samsara by 7.3% in the 4th quarter. Wellington Management Group LLP now owns 8,538 shares of the company’s stock worth $373,000 after purchasing an additional 579 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Samsara by 0.8% in the fourth quarter. California State Teachers Retirement System now owns 312,209 shares of the company’s stock valued at $13,640,000 after purchasing an additional 2,577 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Samsara by 18.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,089 shares of the company’s stock worth $703,000 after buying an additional 2,539 shares during the period. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Samsara during the fourth quarter valued at $2,062,000. Finally, Wealthedge Investment Advisors LLC acquired a new position in Samsara during the fourth quarter valued at $398,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

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.