Samsara Inc. (NYSE:IOT – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Monday after StockNews.com upgraded the stock from a sell rating to a hold rating. The company traded as high as $35.69 and last traded at $34.18, with a volume of 1925253 shares trading hands. The stock had previously closed at $34.59.
Several other research analysts have also weighed in on IOT. Piper Sandler lifted their price objective on shares of Samsara from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday. BMO Capital Markets lifted their price objective on shares of Samsara from $28.00 to $32.00 and gave the stock a “market perform” rating in a research note on Friday. FBN Securities assumed coverage on shares of Samsara in a research note on Wednesday, October 25th. They set an “outperform” rating and a $30.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Samsara from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, The Goldman Sachs Group lifted their price objective on shares of Samsara from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Samsara has an average rating of “Hold” and an average target price of $31.56.
Insider Buying and Selling at Samsara
In other Samsara news, CEO Sanjit Biswas sold 89,800 shares of Samsara stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $31.10, for a total value of $2,792,780.00. Following the transaction, the chief executive officer now owns 1,167,400 shares of the company’s stock, valued at $36,306,140. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Sanjit Biswas sold 89,800 shares of Samsara stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $31.10, for a total value of $2,792,780.00. Following the sale, the chief executive officer now directly owns 1,167,400 shares in the company, valued at $36,306,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Eltoukhy sold 6,668 shares of Samsara stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $31.20, for a total transaction of $208,041.60. Following the completion of the sale, the insider now owns 813,124 shares in the company, valued at $25,369,468.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,553,917 shares of company stock valued at $68,658,582. 66.14% of the stock is currently owned by corporate insiders.
Institutional Trading of Samsara
A number of hedge funds and other institutional investors have recently made changes to their positions in IOT. Bank of New York Mellon Corp acquired a new position in Samsara during the first quarter worth $558,000. PNC Financial Services Group Inc. increased its holdings in Samsara by 141.6% during the first quarter. PNC Financial Services Group Inc. now owns 20,170 shares of the company’s stock worth $322,000 after buying an additional 11,820 shares during the last quarter. BlackRock Inc. increased its holdings in Samsara by 17.3% during the first quarter. BlackRock Inc. now owns 3,227,576 shares of the company’s stock worth $51,704,000 after buying an additional 477,013 shares during the last quarter. Vanguard Group Inc. increased its holdings in Samsara by 52.8% during the first quarter. Vanguard Group Inc. now owns 3,033,132 shares of the company’s stock worth $48,591,000 after buying an additional 1,048,694 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Samsara in the first quarter valued at $3,109,000. 52.47% of the stock is currently owned by institutional investors and hedge funds.
Samsara Price Performance
The company’s fifty day simple moving average is $24.98 and its 200 day simple moving average is $25.74.
Samsara (NYSE:IOT – Get Free Report) last announced its earnings results on Thursday, August 31st. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $219.26 million during the quarter, compared to analysts’ expectations of $207.69 million. Samsara had a negative net margin of 26.77% and a negative return on equity of 18.97%. Equities research analysts predict that Samsara Inc. will post -0.41 EPS for the current year.
Samsara Company Profile
Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.
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