Brokerages Set Samsara Inc. (NYSE:IOT) Target Price at $51.29

Samsara Inc. (NYSE:IOT - Get Free Report) has been assigned a consensus rating of "Hold" from the fourteen ratings firms that are covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $51.29.

Several equities research analysts have weighed in on IOT shares. BMO Capital Markets increased their price objective on Samsara from $44.00 to $57.00 and gave the stock a "market perform" rating in a report on Friday, December 6th. Wells Fargo & Company lifted their price target on shares of Samsara from $46.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Royal Bank of Canada increased their price objective on shares of Samsara from $49.00 to $64.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Craig Hallum began coverage on shares of Samsara in a research report on Tuesday, October 22nd. They set a "hold" rating and a $48.00 price objective on the stock. Finally, Truist Financial increased their price target on Samsara from $40.00 to $50.00 and gave the stock a "hold" rating in a research report on Monday, November 18th.

Samsara Price Performance

IOT stock traded up $0.96 during mid-day trading on Tuesday, reaching $44.49. 1,152,320 shares of the company traded hands, compared to its average volume of 2,290,850. The company has a fifty day moving average price of $48.80 and a 200-day moving average price of $44.71. Samsara has a 52-week low of $27.14 and a 52-week high of $57.51. The company has a market capitalization of $24.97 billion, a P/E ratio of -94.66 and a beta of 1.59.

Insiders Place Their Bets

In related news, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the firm's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $45.92, for a total value of $5,160,489.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sanjit Biswas sold 42,994 shares of Samsara stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $48.55, for a total transaction of $2,087,358.70. Following the completion of the sale, the chief executive officer now directly owns 440,892 shares in the company, valued at $21,405,306.60. This trade represents a 8.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,379,652 shares of company stock worth $67,821,851 over the last 90 days. Corporate insiders own 60.04% of the company's stock.

Institutional Investors Weigh In On Samsara

A number of large investors have recently made changes to their positions in the business. Hobbs Group Advisors LLC bought a new stake in Samsara in the 3rd quarter worth about $34,000. Continuum Advisory LLC lifted its holdings in shares of Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company's stock worth $45,000 after acquiring an additional 247 shares during the last quarter. Resources Management Corp CT ADV increased its stake in Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company's stock worth $32,000 after purchasing an additional 490 shares during the period. UMB Bank n.a. raised its stake in shares of Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company's stock valued at $49,000 after acquiring an additional 418 shares in the last quarter. Finally, National Bank of Canada FI bought a new position in shares of Samsara during the 2nd quarter worth approximately $38,000. 96.02% of the stock is currently owned by 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.