Morgan Stanley Issues Pessimistic Forecast for Samsara (NYSE:IOT) Stock Price

Samsara (NYSE:IOT - Free Report) had its price target cut by Morgan Stanley from $56.00 to $50.00 in a research report sent to investors on Wednesday, MarketBeat Ratings reports. They currently have an equal weight rating on the stock.

A number of other research firms also recently commented on IOT. Berenberg Bank started coverage on shares of Samsara in a report on Monday, February 3rd. They set a "hold" rating and a $57.00 price objective on the stock. Cowen reaffirmed a "buy" rating on shares of Samsara in a report on Friday, March 7th. Raymond James started coverage on Samsara in a research note on Wednesday, February 26th. They set a "market perform" rating for the company. Piper Sandler cut their target price on shares of Samsara from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada dropped their price objective on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $49.07.

Samsara Stock Down 3.4 %

IOT stock traded down $1.32 on Wednesday, reaching $37.53. 2,784,887 shares of the company's stock were exchanged, compared to its average volume of 3,772,214. Samsara has a twelve month low of $27.14 and a twelve month high of $61.90. The stock has a fifty day moving average of $42.55 and a 200-day moving average of $46.76. The firm has a market cap of $21.37 billion, a PE ratio of -79.85 and a beta of 1.71.

Insider Activity

In related news, insider Sanjit Biswas sold 73,762 shares of Samsara stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $47.08, for a total value of $3,472,714.96. Following the completion of the sale, the insider now owns 13,231 shares in the company, valued at approximately $622,915.48. The trade was a 84.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam Eltoukhy sold 3,903 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $34.07, for a total transaction of $132,975.21. Following the transaction, the insider now directly owns 320,936 shares in the company, valued at $10,934,289.52. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,264,146 shares of company stock worth $53,291,272 over the last ninety days. Corporate insiders own 60.04% of the company's stock.

Institutional Investors Weigh In On Samsara

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position 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 worth $916,555,000 after purchasing an additional 863,197 shares during the period. FMR LLC lifted its stake in Samsara by 24.0% in the fourth quarter. FMR LLC now owns 14,743,175 shares of the company's stock valued at $644,129,000 after buying an additional 2,852,575 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Samsara by 107.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company's stock valued at $181,045,000 after acquiring an additional 2,148,081 shares during the period. Invesco Ltd. grew its position in Samsara by 13.7% in the 4th quarter. Invesco Ltd. now owns 3,476,945 shares of the company's stock worth $151,908,000 after purchasing an additional 419,163 shares during the last quarter. Finally, Amundi increased its stake in shares of Samsara by 22.2% in the fourth quarter. Amundi now owns 3,013,265 shares of the company's stock valued at $133,126,000 after purchasing an additional 547,390 shares during the period. Institutional investors and hedge funds own 96.02% of the company's stock.

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.