Samsara (NYSE:IOT) Upgraded at Wall Street Zen

Samsara (NYSE:IOT) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Thursday.

Other equities analysts have also issued research reports about the stock. Truist Financial dropped their price target on shares of Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday, March 7th. Morgan Stanley dropped their price target on shares of Samsara from $56.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Cowen reissued a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Wells Fargo & Company dropped their price target on shares of Samsara from $51.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Berenberg Bank began coverage on shares of Samsara in a research report on Monday, February 3rd. They issued a “hold” rating and a $57.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.47.

Samsara Stock Performance

Shares of IOT opened at $45.67 on Thursday. The firm has a market cap of $26.00 billion, a PE ratio of -97.17 and a beta of 1.70. The firm’s 50 day moving average price is $40.37 and its 200 day moving average price is $45.77. Samsara has a twelve month low of $27.14 and a twelve month high of $61.90.

Insiders Place Their Bets

In other Samsara news, insider Sanjit Biswas sold 145,392 shares of Samsara stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $44.27, for a total transaction of $6,436,503.84. Following the sale, the insider now owns 120,000 shares in the company, valued at $5,312,400. The trade was a 54.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Adam Eltoukhy sold 31,042 shares of Samsara stock in a transaction on Friday, March 7th. The stock was sold at an average price of $35.89, for a total transaction of $1,114,097.38. Following the sale, the insider now owns 331,106 shares in the company, valued at $11,883,394.34. This represents a 8.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,560,678 shares of company stock worth $63,152,124 in the last ninety days. Insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

A number of institutional investors have recently bought and sold shares of the business. GLOBALT Investments LLC GA boosted its stake in shares of Samsara by 0.3% in the 4th quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company’s stock valued at $2,444,000 after purchasing an additional 182 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management boosted its stake in shares of Samsara by 0.5% in the 1st quarter. Gerber Kawasaki Wealth & Investment Management now owns 54,000 shares of the company’s stock valued at $2,070,000 after purchasing an additional 250 shares in the last quarter. Nemes Rush Group LLC boosted its stake in shares of Samsara by 7.8% in the 1st quarter. Nemes Rush Group LLC now owns 3,597 shares of the company’s stock valued at $138,000 after purchasing an additional 260 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Samsara by 4.6% in the 4th quarter. Tidal Investments LLC now owns 6,403 shares of the company’s stock valued at $280,000 after purchasing an additional 281 shares in the last quarter. Finally, Continuum Advisory LLC boosted its stake in shares of Samsara by 32.1% in the 4th quarter. Continuum Advisory LLC now owns 1,161 shares of the company’s stock valued at $51,000 after purchasing an additional 282 shares in the last quarter. Institutional investors and hedge funds own 96.02% 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.