Samsara (NYSE:IOT) Price Target Lowered to $42.00 at Truist Financial

Samsara (NYSE:IOT - Get Free Report) had its price target cut by equities researchers at Truist Financial from $50.00 to $42.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's price target indicates a potential upside of 18.93% from the company's previous close.

Several other research firms have also recently weighed in on IOT. Royal Bank of Canada boosted 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. Morgan Stanley increased their price objective on shares of Samsara from $40.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 20th. Berenberg Bank assumed coverage on shares of Samsara in a research report on Monday, February 3rd. They set a "hold" rating and a $57.00 target price for the company. Wells Fargo & Company dropped their target price on shares of Samsara from $55.00 to $51.00 and set an "overweight" rating for the company in a research report on Friday. Finally, StockNews.com upgraded shares of Samsara from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Samsara has a consensus rating of "Hold" and an average target price of $49.60.

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Samsara Stock Performance

Shares of IOT traded down $6.57 during mid-day trading on Friday, hitting $35.32. 13,181,864 shares of the company traded hands, compared to its average volume of 3,457,513. The stock has a 50-day moving average price of $49.02 and a two-hundred day moving average price of $48.31. Samsara has a 1 year low of $27.14 and a 1 year high of $61.90. The stock has a market cap of $19.82 billion, a price-to-earnings ratio of -75.14 and a beta of 1.63.

Insider Buying and Selling

In other Samsara news, insider Sanjit Biswas sold 145,392 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $44.27, for a total transaction of $6,436,503.84. Following the transaction, the insider now owns 120,000 shares of the company's stock, valued at approximately $5,312,400. This trade represents a 54.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Adam Eltoukhy sold 23,960 shares of the firm's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $43.81, for a total transaction of $1,049,687.60. Following the transaction, the insider now directly owns 331,106 shares in the company, valued at $14,505,753.86. This trade represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,389,912 shares of company stock valued at $65,081,064 in the last 90 days. Company insiders own 60.04% of the company's stock.

Institutional Trading of Samsara

A number of institutional investors have recently modified their holdings of IOT. Baillie Gifford & Co. boosted its stake in Samsara by 23.4% in the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company's stock worth $1,628,592,000 after purchasing an additional 6,411,178 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Samsara by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company's stock valued at $916,555,000 after purchasing an additional 863,197 shares in the last quarter. FMR LLC increased its holdings in shares of Samsara by 24.0% during the 4th quarter. FMR LLC now owns 14,743,175 shares of the company's stock valued at $644,129,000 after purchasing an additional 2,852,575 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Samsara by 107.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company's stock valued at $181,045,000 after purchasing an additional 2,148,081 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in Samsara by 4.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company's stock worth $168,741,000 after acquiring an additional 138,702 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors.

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.