Samsara (NYSE:IOT) Now Covered by Berenberg Bank

Investment analysts at Berenberg Bank began coverage on shares of Samsara (NYSE:IOT - Get Free Report) in a note issued to investors on Monday, MarketBeat reports. The brokerage set a "hold" rating and a $57.00 price target on the stock. Berenberg Bank's target price would indicate a potential upside of 5.51% from the company's current price.

Several other analysts have also recently weighed in on IOT. Royal Bank of Canada raised their price objective on shares of Samsara from $49.00 to $64.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. BNP Paribas started coverage on shares of Samsara in a report on Tuesday, October 8th. They issued a "neutral" rating and a $46.00 price objective on the stock. Piper Sandler upped their price target on Samsara from $40.00 to $50.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Morgan Stanley raised their target price on Samsara from $40.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Samsara from $40.00 to $44.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $51.67.

Samsara Stock Up 0.0 %

IOT stock traded up $0.02 during trading on Monday, reaching $54.02. The stock had a trading volume of 2,146,454 shares, compared to its average volume of 2,516,239. The company has a market capitalization of $30.32 billion, a price-to-earnings ratio of -114.94 and a beta of 1.61. The company's 50 day moving average is $47.66 and its two-hundred day moving average is $46.20. Samsara has a one year low of $27.14 and a one year high of $57.51.

Insider Activity at Samsara

In other Samsara news, insider Dominic Phillips sold 20,801 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $50.97, for a total transaction of $1,060,226.97. Following the sale, the insider now directly owns 755,001 shares in the company, valued at $38,482,400.97. This represents a 2.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $50.37, for a total value of $4,835,520.00. Following the completion of the transaction, the chief executive officer now owns 195,886 shares of the company's stock, valued at approximately $9,866,777.82. This trade represents a 32.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,549,936 shares of company stock valued at $75,624,852. 60.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. increased its holdings in shares of Samsara by 23.4% in the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company's stock valued at $1,628,592,000 after purchasing an additional 6,411,178 shares during the period. FMR LLC boosted its holdings in Samsara by 15.6% in the 3rd quarter. FMR LLC now owns 11,890,600 shares of the company's stock valued at $572,176,000 after purchasing an additional 1,604,822 shares in the last quarter. Westfield Capital Management Co. LP increased its position in Samsara by 4.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company's stock worth $168,741,000 after purchasing an additional 138,702 shares during the period. Geode Capital Management LLC raised its stake in shares of Samsara by 9.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,279,383 shares of the company's stock worth $109,307,000 after buying an additional 196,867 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Samsara by 4.7% in the 3rd quarter. State Street Corp now owns 2,125,584 shares of the company's stock valued at $102,283,000 after buying an additional 95,006 shares during the period. 96.02% of the stock is owned by hedge funds and other 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.