Samsara (NYSE:IOT) Given New $50.00 Price Target at Morgan Stanley

Samsara (NYSE:IOT) had its price target reduced by Morgan Stanley from $56.00 to $50.00 in a research report report published on Wednesday morning, Marketbeat Ratings reports. They currently have an equal weight rating on the stock.

A number of other brokerages have also issued reports on IOT. Craig Hallum reissued a “hold” rating on shares of Samsara in a research note on Friday, March 7th. Wells Fargo & Company reduced their price objective on Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Royal Bank of Canada dropped their target price on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Berenberg Bank started coverage on Samsara in a report on Monday, February 3rd. They set a “hold” rating and a $57.00 price target for the company. Finally, BMO Capital Markets upgraded Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a report on Monday, March 10th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $49.07.

Samsara Price Performance

NYSE IOT opened at $37.53 on Wednesday. The firm has a market capitalization of $21.37 billion, a price-to-earnings ratio of -79.85 and a beta of 1.71. The company has a 50 day simple moving average of $42.55 and a 200-day simple moving average of $46.75. Samsara has a 52-week low of $27.14 and a 52-week high of $61.90.

Insider Buying and Selling

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.19, for a total value of $10,015,310.89. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Adam Eltoukhy sold 3,903 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.07, for a total value of $132,975.21. Following the transaction, the insider now owns 320,936 shares of the company’s stock, valued at approximately $10,934,289.52. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,264,146 shares of company stock worth $53,291,272 in the last quarter. 60.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Samsara

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in Samsara in the 4th quarter worth $431,000. Charles Schwab Investment Management Inc. grew its position in Samsara by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,876,944 shares of the company’s stock worth $82,004,000 after buying an additional 47,911 shares in the last quarter. Renaissance Technologies LLC increased its stake in Samsara by 30.4% during the fourth quarter. Renaissance Technologies LLC now owns 764,300 shares of the company’s stock valued at $33,392,000 after acquiring an additional 178,102 shares during the period. Vanguard Group Inc. raised its stake in shares of Samsara by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company’s stock valued at $916,555,000 after purchasing an additional 863,197 shares in the last quarter. Finally, Amundi raised its stake in shares of Samsara by 22.2% in the 4th quarter. Amundi now owns 3,013,265 shares of the company’s stock valued at $133,126,000 after buying an additional 547,390 shares in the last quarter. Institutional investors 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.