Samsara (NYSE:IOT) Price Target Cut to $54.00 by Analysts at Royal Bank of Canada

Samsara (NYSE:IOT - Free Report) had its price target lowered by Royal Bank of Canada from $64.00 to $54.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company decreased their price target on Samsara from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Friday. Truist Financial decreased their price target on Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a research note on Friday. Piper Sandler increased their price target on Samsara from $40.00 to $50.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Morgan Stanley upped their price objective on Samsara from $40.00 to $52.00 and gave the company an "equal weight" rating in a report on Wednesday, November 20th. Finally, StockNews.com upgraded Samsara from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $49.60.

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Samsara Stock Performance

Shares of NYSE:IOT traded down $6.57 on Friday, hitting $35.32. The company's stock had a trading volume of 13,181,864 shares, compared to its average volume of 3,457,513. Samsara has a 12 month low of $27.14 and a 12 month high of $61.90. The company has a market capitalization of $19.82 billion, a price-to-earnings ratio of -75.14 and a beta of 1.63. The stock's 50-day moving average is $49.02 and its two-hundred day moving average is $48.31.

Insider Activity

In related news, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $45.92, for a total transaction of $5,160,489.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dominic Phillips sold 20,136 shares of the company's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $50.45, for a total value of $1,015,861.20. Following the transaction, the insider now directly owns 882,664 shares in the company, valued at $44,530,398.80. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,389,912 shares of company stock valued at $65,081,064 over the last three months. Insiders own 60.04% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. GLOBALT Investments LLC GA raised its position in Samsara by 0.3% during the fourth quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company's stock valued at $2,444,000 after buying an additional 182 shares during the period. Continuum Advisory LLC increased its position in Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company's stock worth $45,000 after purchasing an additional 247 shares during the last quarter. Private Trust Co. NA increased its position in Samsara by 19.2% in the 3rd quarter. Private Trust Co. NA now owns 1,550 shares of the company's stock worth $75,000 after purchasing an additional 250 shares during the last quarter. Tidal Investments LLC increased its position in Samsara by 4.6% in the 4th quarter. Tidal Investments LLC now owns 6,403 shares of the company's stock worth $280,000 after purchasing an additional 281 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Samsara by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,791 shares of the company's stock worth $253,000 after purchasing an additional 300 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

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.