Samsara (NYSE:IOT) Sets New 12-Month High – Here’s Why

Samsara Inc. (NYSE:IOT)’s share price reached a new 52-week high on Friday . The stock traded as high as $51.40 and last traded at $51.40, with a volume of 16341 shares trading hands. The stock had previously closed at $50.61.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler upped their price objective on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. JPMorgan Chase & Co. upped their price target on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Truist Financial raised their price objective on Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Bank of America upped their target price on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Wolfe Research reiterated an “outperform” rating and set a $44.00 price target on shares of Samsara in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $42.33.

Samsara Stock Up 1.1 %

The firm has a market cap of $28.47 billion, a price-to-earnings ratio of -106.46 and a beta of 1.52. The stock has a fifty day moving average price of $43.48 and a 200-day moving average price of $38.08.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.11) earnings per share. As a group, research analysts expect that Samsara Inc. will post -0.34 earnings per share for the current year.

Insider Activity

In other Samsara news, CEO Sanjit Biswas sold 59,112 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $38.05, for a total transaction of $2,249,211.60. Following the completion of the transaction, the chief executive officer now directly owns 1,311,187 shares in the company, valued at approximately $49,890,665.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Sanjit Biswas sold 59,112 shares of Samsara stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $38.05, for a total transaction of $2,249,211.60. Following the completion of the sale, the chief executive officer now directly owns 1,311,187 shares in the company, valued at $49,890,665.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lara Caimi sold 7,508 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $46.42, for a total transaction of $348,521.36. Following the completion of the transaction, the insider now directly owns 1,093,535 shares of the company’s stock, valued at approximately $50,761,894.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,049,030 shares of company stock worth $86,959,176. Company insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

Several hedge funds have recently modified their holdings of the stock. Resources Management Corp CT ADV boosted its position in Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares during the period. Quarry LP purchased a new stake in shares of Samsara during the fourth quarter worth about $37,000. National Bank of Canada FI acquired a new position in shares of Samsara in the second quarter worth about $38,000. Nemes Rush Group LLC purchased a new position in shares of Samsara during the 2nd quarter valued at approximately $45,000. Finally, UMB Bank n.a. boosted its stake in Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after acquiring an additional 418 shares during the last quarter. 89.39% 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.