Samsara Inc. (NYSE:IOT) Receives Average Recommendation of “Hold” from Analysts

Shares of Samsara Inc. (NYSE:IOT) have been assigned an average rating of “Hold” from the fourteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $51.29.

Several analysts have issued reports on IOT shares. Morgan Stanley upped 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. JPMorgan Chase & Co. upped their price objective on Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Craig Hallum assumed coverage on Samsara in a research report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price target on the stock. Royal Bank of Canada increased their price target on Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Loop Capital increased 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.

Samsara Stock Up 2.0 %

Shares of NYSE IOT opened at $46.75 on Tuesday. The stock’s 50 day moving average price is $48.40 and its two-hundred day moving average price is $44.88. Samsara has a 52-week low of $27.14 and a 52-week high of $57.51. The stock has a market capitalization of $26.24 billion, a P/E ratio of -99.48 and a beta of 1.59.

Insider Buying and Selling at Samsara

In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $47.09, for a total transaction of $4,520,640.00. Following the completion of the transaction, the chief executive officer now directly owns 483,886 shares of the company’s stock, valued at approximately $22,786,191.74. This trade represents a 16.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan Chadwick sold 22,500 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $45.37, for a total value of $1,020,825.00. Following the transaction, the director now directly owns 396,079 shares of the company’s stock, valued at approximately $17,970,104.23. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,606,542 shares of company stock valued at $77,988,715. 60.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Samsara

Large investors have recently modified their holdings of the stock. Resources Management Corp CT ADV boosted its stake in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Samsara in the third quarter valued at $34,000. National Bank of Canada FI purchased a new stake in shares of Samsara in the second quarter valued at $38,000. Nemes Rush Group LLC purchased a new stake in shares of Samsara in the second quarter valued at $45,000. Finally, Continuum Advisory LLC lifted its holdings in shares of Samsara by 39.1% in the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after purchasing an additional 247 shares in the last quarter. 96.02% of the stock is owned by institutional investors.

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.