Samsara (NYSE:IOT) Reaches New 12-Month High – What’s Next?

Samsara Inc. (NYSE:IOT) shares reached a new 52-week high on Thursday . The stock traded as high as $61.90 and last traded at $58.82, with a volume of 5419329 shares traded. The stock had previously closed at $60.96.

Wall Street Analyst Weigh In

IOT has been the subject of several analyst reports. Morgan Stanley boosted their target price on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Royal Bank of Canada boosted their target price on Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price target on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company upped their price target on Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $51.67.

Samsara Price Performance

The business has a 50 day moving average of $48.62 and a 200 day moving average of $47.60.

Insider Activity at Samsara

In other Samsara news, insider Dominic Phillips sold 20,801 shares of Samsara stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $50.97, for a total transaction of $1,060,226.97. Following the completion of the transaction, the insider now directly owns 755,001 shares of the company’s stock, valued at approximately $38,482,400.97. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sanjit Biswas sold 56,474 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $43.33, for a total transaction of $2,447,018.42. Following the completion of the sale, the insider now directly owns 116,257 shares in the company, valued at approximately $5,037,415.81. The trade was a 32.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,530,506 shares of company stock worth $75,086,182. 60.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Samsara

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Samsara by 4.7% in the third quarter. State Street Corp now owns 2,125,584 shares of the company’s stock valued at $102,283,000 after acquiring an additional 95,006 shares during the last quarter. HighTower Advisors LLC increased its holdings in Samsara by 193.4% during the 3rd quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock valued at $2,981,000 after purchasing an additional 40,833 shares in the last quarter. Swiss National Bank raised its position in Samsara by 3.1% in the 3rd quarter. Swiss National Bank now owns 615,600 shares of the company’s stock valued at $29,623,000 after purchasing an additional 18,400 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Samsara in the 4th quarter valued at $422,000. Finally, International Assets Investment Management LLC boosted its stake in Samsara by 2,787.2% in the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock worth $521,000 after purchasing an additional 10,452 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

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.