Samsara (NYSE:IOT) Reaches New 52-Week High - What's Next?

Samsara Inc. (NYSE:IOT - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $57.69 and last traded at $57.88, with a volume of 1163285 shares. The stock had previously closed at $56.37.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Samsara from $40.00 to $50.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Truist Financial boosted their target price on shares of Samsara from $40.00 to $50.00 and gave the company a "hold" rating in a research note on Monday, November 18th. BMO Capital Markets raised their price target on shares of Samsara from $44.00 to $57.00 and gave the stock a "market perform" rating in a research note on Friday, December 6th. Wells Fargo & Company upped their price objective on Samsara from $46.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Finally, StockNews.com raised Samsara from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $51.67.

Samsara Trading Up 3.1 %

The company's fifty day simple moving average is $48.07 and its 200 day simple moving average is $47.34. The stock has a market capitalization of $34.13 billion, a P/E ratio of -129.73 and a beta of 1.61.

Insider Activity at Samsara

In related news, insider Sanjit Biswas sold 170,416 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $45.30, for a total value of $7,719,844.80. Following the sale, the insider now directly owns 1,175,569 shares of the company's stock, valued at $53,253,275.70. This trade represents a 12.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Adam Eltoukhy sold 12,500 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $55.05, for a total transaction of $688,125.00. Following the completion of the transaction, the insider now directly owns 396,784 shares of the company's stock, valued at approximately $21,842,959.20. This represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,543,006 shares of company stock valued at $75,774,307. Company insiders own 60.04% of the company's stock.

Hedge Funds Weigh In On Samsara

A number of hedge funds and other institutional investors have recently modified their holdings of IOT. State Street Corp boosted its stake in Samsara by 4.7% in the third quarter. State Street Corp now owns 2,125,584 shares of the company's stock worth $102,283,000 after buying an additional 95,006 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Samsara by 193.4% in the 3rd quarter. HighTower Advisors LLC now owns 61,946 shares of the company's stock valued at $2,981,000 after purchasing an additional 40,833 shares in the last quarter. Swiss National Bank raised its position in Samsara by 3.1% in the 3rd quarter. Swiss National Bank now owns 615,600 shares of the company's stock worth $29,623,000 after purchasing an additional 18,400 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in Samsara in the fourth quarter worth $422,000. Finally, International Assets Investment Management LLC boosted its position in Samsara by 2,787.2% during the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company's stock valued at $521,000 after buying an additional 10,452 shares during the period. 96.02% of the stock is currently owned by hedge funds and other 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.