Samsara (NYSE:IOT) Coverage Initiated by Analysts at Loop Capital

Loop Capital initiated coverage on shares of Samsara (NYSE:IOT) in a report published on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $42.00 price target on the stock.

Separately, StockNews.com upgraded shares of Samsara from a sell rating to a hold rating in a research report on Tuesday, March 5th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $32.60.

Samsara Stock Performance

IOT opened at $31.02 on Thursday. The firm has a 50-day moving average of $34.84 and a 200 day moving average of $31.15. Samsara has a fifty-two week low of $16.63 and a fifty-two week high of $40.54.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $276.27 million during the quarter, compared to analyst estimates of $258.56 million. Samsara had a negative net margin of 30.59% and a negative return on equity of 22.90%. On average, equities analysts forecast that Samsara will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at Samsara

In other news, insider Adam Eltoukhy sold 9,344 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $34.75, for a total value of $324,704.00. Following the sale, the insider now directly owns 431,439 shares of the company’s stock, valued at $14,992,505.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Adam Eltoukhy sold 9,344 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $34.75, for a total value of $324,704.00. Following the sale, the insider now directly owns 431,439 shares of the company’s stock, valued at $14,992,505.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sanjit Biswas sold 92,216 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $31.93, for a total transaction of $2,944,456.88. Following the completion of the sale, the chief executive officer now directly owns 662,119 shares in the company, valued at $21,141,459.67. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,697,460 shares of company stock valued at $58,277,505. 66.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Samsara

A number of institutional investors and hedge funds have recently bought and sold shares of IOT. State of Wyoming purchased a new stake in Samsara in the fourth quarter valued at approximately $27,000. Fred Alger Management LLC purchased a new position in shares of Samsara during the third quarter worth approximately $28,000. Macquarie Group Ltd. raised its stake in shares of Samsara by 37.3% during the fourth quarter. Macquarie Group Ltd. now owns 2,391 shares of the company’s stock worth $30,000 after acquiring an additional 649 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Samsara during the second quarter worth approximately $33,000. Finally, Quarry LP purchased a new position in shares of Samsara during the fourth quarter worth approximately $37,000. 89.39% of the stock is owned by hedge funds and other 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.