Analysts Set Samsara Inc. (NYSE:IOT) Target Price at $49.60

Shares of Samsara Inc. (NYSE:IOT - Get Free Report) have been given a consensus rating of "Moderate Buy" by the seventeen brokerages that are presently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $49.60.

IOT has been the topic of a number of research analyst reports. Craig Hallum reaffirmed a "hold" rating on shares of Samsara in a research report on Friday, March 7th. Royal Bank of Canada cut their price target on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Loop Capital increased their price objective on shares of Samsara from $46.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. BMO Capital Markets raised shares of Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 target price for the company in a research note on Monday, March 10th. Finally, Piper Sandler raised Samsara from a "neutral" rating to an "overweight" rating and set a $50.00 price target on the stock in a research note on Monday, March 10th.

Insider Buying and Selling at Samsara

In other Samsara news, Director Jonathan Chadwick sold 22,500 shares of Samsara stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $38.72, for a total value of $871,200.00. Following the completion of the sale, the director now owns 373,579 shares in the company, valued at $14,464,978.88. The trade was a 5.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sanjit Biswas sold 94,020 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $42.68, for a total transaction of $4,012,773.60. Following the completion of the sale, the insider now directly owns 114,000 shares of the company's stock, valued at $4,865,520. This represents a 45.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,607,296 shares of company stock valued at $70,334,047 in the last three months. 60.04% of the stock is currently owned by company insiders.

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Institutional Investors Weigh In On Samsara

A number of hedge funds and other institutional investors have recently made changes to their positions in IOT. Intech Investment Management LLC bought a new position in Samsara during the 3rd quarter worth $644,000. Daiwa Securities Group Inc. increased its position in shares of Samsara by 12.9% in the third quarter. Daiwa Securities Group Inc. now owns 15,800 shares of the company's stock worth $760,000 after purchasing an additional 1,800 shares during the period. Private Trust Co. NA raised its stake in Samsara by 19.2% in the third quarter. Private Trust Co. NA now owns 1,550 shares of the company's stock valued at $75,000 after purchasing an additional 250 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Samsara by 14.1% during the third quarter. The Manufacturers Life Insurance Company now owns 47,723 shares of the company's stock worth $2,296,000 after purchasing an additional 5,897 shares during the period. Finally, Bridgewater Associates LP acquired a new stake in Samsara during the third quarter worth about $2,308,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Samsara Stock Performance

IOT traded up $0.15 during mid-day trading on Friday, reaching $38.48. The stock had a trading volume of 2,172,042 shares, compared to its average volume of 3,579,138. The firm's fifty day simple moving average is $47.23 and its two-hundred day simple moving average is $47.99. The stock has a market capitalization of $21.59 billion, a P/E ratio of -81.81 and a beta of 1.63. Samsara has a 52 week low of $27.14 and a 52 week high of $61.90.

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.