Samsara (NYSE:IOT) Downgraded to “Sell” at StockNews.com

StockNews.com lowered shares of Samsara (NYSE:IOT) from a hold rating to a sell rating in a report published on Friday morning.

A number of other equities research analysts have also commented on IOT. Truist Financial raised their price objective on Samsara from $35.00 to $40.00 and gave the stock a hold rating in a research report on Friday, September 6th. BMO Capital Markets boosted their price objective on Samsara from $40.00 to $44.00 and gave the stock a market perform rating in a report on Friday, September 6th. Wells Fargo & Company raised their target price on shares of Samsara from $42.00 to $46.00 and gave the stock an overweight rating in a report on Friday, September 6th. Evercore ISI upped their target price on Samsara from $40.00 to $42.00 and gave the stock an in-line rating in a report on Friday, September 6th. Finally, Loop Capital raised their target price on shares of Samsara from $42.00 to $46.00 and gave the company a buy rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $43.00.

Samsara Stock Up 0.0 %

NYSE:IOT opened at $50.51 on Friday. The company has a market cap of $27.82 billion, a P/E ratio of -101.02 and a beta of 1.52. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $51.53. The firm’s 50 day moving average is $44.08 and its two-hundred day moving average is $38.25.

Samsara (NYSE:IOT) last posted its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The company’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.11) earnings per share. Research analysts forecast that Samsara will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sanjit Biswas sold 65,605 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $36.82, for a total transaction of $2,415,576.10. Following the completion of the sale, the chief executive officer now directly owns 1,112,694 shares in the company, valued at approximately $40,969,393.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Samsara news, CEO Sanjit Biswas sold 65,605 shares of Samsara stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $36.82, for a total transaction of $2,415,576.10. Following the completion of the sale, the chief executive officer now directly owns 1,112,694 shares in the company, valued at $40,969,393.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam Eltoukhy sold 4,000 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $50.00, for a total transaction of $200,000.00. Following the completion of the transaction, the insider now owns 396,784 shares of the company’s stock, valued at approximately $19,839,200. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,984,447 shares of company stock worth $84,552,055 in the last 90 days. Insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

Several institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. boosted its position in shares of Samsara by 18.1% in the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after buying an additional 4,207,974 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Samsara by 18.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock valued at $666,584,000 after acquiring an additional 2,797,326 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Samsara by 12.1% in the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after purchasing an additional 1,841,149 shares during the period. 1832 Asset Management L.P. boosted its position in Samsara by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock valued at $273,930,000 after buying an additional 500,400 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its position in shares of Samsara by 12.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock valued at $84,225,000 after purchasing an additional 243,170 shares in the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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.