Samsara (NYSE:IOT) Given New $44.00 Price Target at Piper Sandler

Samsara (NYSE:IOT - Get Free Report) had its target price lowered by investment analysts at Piper Sandler from $50.00 to $44.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's target price suggests a potential upside of 16.71% from the stock's current price.

A number of other brokerages have also issued reports on IOT. Craig Hallum reaffirmed a "hold" rating on shares of Samsara in a research report on Friday, March 7th. Wells Fargo & Company reduced their price objective on shares of Samsara from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Truist Financial cut their price target on shares of Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a report on Friday, March 7th. BMO Capital Markets raised shares of Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price objective for the company in a research note on Monday, March 10th. Finally, Berenberg Bank started coverage on shares of Samsara in a research note on Monday, February 3rd. They set a "hold" rating and a $57.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Samsara has a consensus rating of "Moderate Buy" and a consensus price target of $49.20.

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Samsara Price Performance

Shares of IOT traded up $0.30 during trading hours on Tuesday, reaching $37.70. 2,642,386 shares of the company's stock traded hands, compared to its average volume of 3,768,893. The firm has a market capitalization of $21.46 billion, a price-to-earnings ratio of -80.21 and a beta of 1.71. The business's fifty day simple moving average is $44.21 and its two-hundred day simple moving average is $47.08. Samsara has a twelve month low of $27.14 and a twelve month high of $61.90.

Insiders Place Their Bets

In other news, insider Adam Eltoukhy sold 9,043 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $53.88, for a total value of $487,236.84. Following the sale, the insider now directly owns 331,106 shares of the company's stock, valued at approximately $17,839,991.28. This represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sanjit Biswas sold 170,416 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $45.30, for a total value of $7,719,844.80. Following the transaction, the insider now directly owns 1,175,569 shares of the company's stock, valued at $53,253,275.70. The trade was a 12.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,563,113 shares of company stock worth $66,802,508. 60.04% of the stock is currently owned by company insiders.

Institutional Trading of Samsara

Several hedge funds and other institutional investors have recently bought and sold shares of IOT. Vanguard Group Inc. boosted its stake in shares of Samsara by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company's stock valued at $916,555,000 after purchasing an additional 863,197 shares in the last quarter. FMR LLC increased its holdings in Samsara by 24.0% in the 4th quarter. FMR LLC now owns 14,743,175 shares of the company's stock worth $644,129,000 after buying an additional 2,852,575 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Samsara by 107.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company's stock valued at $181,045,000 after purchasing an additional 2,148,081 shares during the period. Invesco Ltd. increased its position in Samsara by 13.7% during the fourth quarter. Invesco Ltd. now owns 3,476,945 shares of the company's stock valued at $151,908,000 after acquiring an additional 419,163 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Samsara by 22.2% in the fourth quarter. Amundi now owns 3,013,265 shares of the company's stock worth $133,126,000 after buying an additional 547,390 shares during the last quarter. Institutional investors 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.