Samsara (NYSE:IOT) Given “Outperform” Rating at Wolfe Research

Samsara (NYSE:IOT)‘s stock had its “outperform” rating restated by analysts at Wolfe Research in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $44.00 price objective on the stock. Wolfe Research’s price target would suggest a potential upside of 30.64% from the company’s previous close.

Several other brokerages also recently weighed in on IOT. Evercore ISI lowered their price objective on Samsara from $41.00 to $40.00 and set an “in-line” rating for the company in a research report on Friday, June 7th. Loop Capital reiterated a “buy” rating and set a $42.00 price target on shares of Samsara in a report on Friday. Piper Sandler reissued a “neutral” rating and issued a $36.00 price target (down previously from $41.00) on shares of Samsara in a report on Friday, June 7th. BMO Capital Markets reaffirmed a “market perform” rating and set a $40.00 price objective on shares of Samsara in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 target price on shares of Samsara in a research note on Wednesday. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Samsara currently has a consensus rating of “Moderate Buy” and an average price target of $37.17.

Samsara Price Performance

NYSE IOT traded up $1.05 on Friday, reaching $33.68. 1,439,594 shares of the company’s stock traded hands, compared to its average volume of 3,882,079. The stock has a market cap of $18.55 billion, a PE ratio of -67.36 and a beta of 1.51. Samsara has a 12 month low of $21.48 and a 12 month high of $42.28. The stock has a 50-day simple moving average of $34.95 and a 200 day simple moving average of $34.27.

Insider Transactions at Samsara

In other news, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total transaction of $2,831,040.00. Following the transaction, the chief executive officer now owns 1,466,299 shares of the company’s stock, valued at $43,241,157.51. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Adam Eltoukhy sold 10,422 shares of Samsara stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $30.78, for a total transaction of $320,789.16. Following the completion of the sale, the insider now owns 535,149 shares of the company’s stock, valued at $16,471,886.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total value of $2,831,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,466,299 shares in the company, valued at approximately $43,241,157.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,707,743 shares of company stock worth $58,180,086. 60.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Samsara

A number of large investors have recently bought and sold shares of the business. Fred Alger Management LLC purchased a new position in Samsara in the third quarter valued at about $28,000. Quarry LP purchased a new position in shares of Samsara in the 4th quarter worth approximately $37,000. Montag A & Associates Inc. raised its stake in shares of Samsara by 1,200.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock worth $43,000 after acquiring an additional 1,200 shares in the last quarter. Tradition Wealth Management LLC purchased a new stake in Samsara during the fourth quarter valued at approximately $46,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Samsara by 31.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock valued at $53,000 after acquiring an additional 381 shares in the last quarter. Institutional investors own 89.39% 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.