Samsara Inc. (NYSE:IOT) Receives $48.87 Consensus Target Price from Brokerages

Samsara Inc. (NYSE:IOT - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seventeen research firms that are currently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $48.87.

Several equities research analysts have recently weighed in on IOT shares. BMO Capital Markets upgraded Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price target on the stock in a research report on Monday, March 10th. Cowen reiterated a "buy" rating on shares of Samsara in a research note on Friday, March 7th. Royal Bank of Canada decreased their price target on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Craig Hallum reissued a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Finally, Morgan Stanley decreased their target price on Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th.

Insider Activity

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of Samsara stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.19, for a total value of $10,015,310.89. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Sanjit Biswas sold 160,000 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $34.97, for a total transaction of $5,595,200.00. Following the completion of the sale, the insider now directly owns 102,000 shares of the company's stock, valued at approximately $3,566,940. This represents a 61.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,243,232 shares of company stock valued at $49,935,075. Insiders own 60.04% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in shares of Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after purchasing an additional 414 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in Samsara during the 4th quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Samsara in the first quarter worth about $31,000. IFP Advisors Inc boosted its holdings in shares of Samsara by 290.3% in the fourth quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after buying an additional 598 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Samsara in the 4th quarter worth $38,000. Institutional investors own 96.02% of the company's stock.

Samsara Trading Up 0.5 %

Shares of NYSE IOT traded up $0.18 during mid-day trading on Thursday, hitting $39.98. The company had a trading volume of 105,311 shares, compared to its average volume of 3,756,331. Samsara has a 1 year low of $27.14 and a 1 year high of $61.90. The company has a market capitalization of $22.76 billion, a price-to-earnings ratio of -84.95 and a beta of 1.71. The stock's 50-day moving average price is $40.09 and its 200-day moving average price is $46.31.

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.