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

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

IOT has been the topic of several other research reports. JPMorgan Chase & Co. boosted their price target on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Craig Hallum started coverage on Samsara in a research note on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 target price on the stock. BMO Capital Markets upped their target price on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Morgan Stanley upped their target price on Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada upped their target price on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $44.20.

Samsara Stock Performance

Shares of IOT stock opened at $46.22 on Wednesday. Samsara has a 1-year low of $22.19 and a 1-year high of $51.53. The stock’s fifty day moving average price is $46.62 and its 200 day moving average price is $39.66.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The firm had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. During the same period in the previous year, the business earned ($0.11) EPS. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. Sell-side analysts expect that Samsara will post -0.34 EPS for the current fiscal year.

Insider Activity

In other news, CEO Sanjit Biswas sold 81,515 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $37.04, for a total value of $3,019,315.60. Following the completion of the sale, the chief executive officer now directly owns 96,000 shares in the company, valued at $3,555,840. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Lara Caimi sold 7,508 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $46.42, for a total value of $348,521.36. Following the completion of the transaction, the insider now directly owns 1,093,535 shares in the company, valued at approximately $50,761,894.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjit Biswas sold 81,515 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $37.04, for a total value of $3,019,315.60. Following the completion of the transaction, the chief executive officer now owns 96,000 shares of the company’s stock, valued at $3,555,840. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,879,269 shares of company stock worth $83,386,415 over the last ninety days. Corporate insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IOT. Baillie Gifford & Co. boosted its position in shares of Samsara by 18.1% during the second 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 during the period. 1832 Asset Management L.P. boosted its position in shares of Samsara by 102.1% during the first quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after buying an additional 3,853,400 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of 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. raised 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 acquiring an additional 1,841,149 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Samsara in the second quarter valued at $29,464,000. 89.39% of the stock is currently 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.