Samsara (NYSE:IOT) Trading Down 2.5% – Here’s What Happened

Samsara Inc. (NYSE:IOT) fell 2.5% on Wednesday . The company traded as low as $49.00 and last traded at $49.01. 169,764 shares were traded during mid-day trading, a decline of 95% from the average session volume of 3,699,990 shares. The stock had previously closed at $50.27.

Analyst Ratings Changes

A number of brokerages recently weighed in on IOT. TD Cowen boosted their price objective on shares of Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, October 11th. BNP Paribas initiated coverage on shares of Samsara in a research note on Tuesday, October 8th. They set a “neutral” rating and a $46.00 target price for the company. Wolfe Research reiterated an “outperform” rating and set a $44.00 target price on shares of Samsara in a research note on Friday, June 28th. Bank of America boosted their target price on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $43.00.

Samsara Stock Performance

The company has a market cap of $27.18 billion, a P/E ratio of -99.18 and a beta of 1.52. The firm’s fifty day moving average is $44.35 and its two-hundred day moving average is $38.33.

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

Insider Activity

In other news, CEO Sanjit Biswas sold 84,150 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $38.06, for a total transaction of $3,202,749.00. Following the sale, the chief executive officer now directly owns 1,190,149 shares in the company, valued at approximately $45,297,070.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sanjit Biswas sold 84,150 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $38.06, for a total value of $3,202,749.00. Following the sale, the chief executive officer now directly owns 1,190,149 shares of the company’s stock, valued at $45,297,070.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Adam Eltoukhy sold 12,500 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $45.00, for a total transaction of $562,500.00. Following the completion of the sale, the insider now directly owns 465,967 shares in the company, valued at $20,968,515. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,948,089 shares of company stock worth $83,198,447. 60.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Samsara

A number of institutional investors have recently modified their holdings of IOT. Capstone Wealth Management Group LLC boosted its stake in shares of Samsara by 2.3% during the third quarter. Capstone Wealth Management Group LLC now owns 26,660 shares of the company’s stock valued at $1,283,000 after purchasing an additional 610 shares in the last quarter. Swedbank AB boosted its stake in shares of Samsara by 288.9% during the third quarter. Swedbank AB now owns 12,080 shares of the company’s stock valued at $581,000 after purchasing an additional 8,974 shares in the last quarter. Carnegie Investment Counsel boosted its stake in shares of Samsara by 27.0% during the third quarter. Carnegie Investment Counsel now owns 80,085 shares of the company’s stock valued at $3,854,000 after purchasing an additional 17,022 shares in the last quarter. Paragon Capital Management Ltd bought a new position in shares of Samsara during the third quarter valued at approximately $935,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Samsara by 250.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock valued at $67,000 after acquiring an additional 1,000 shares in the last quarter. 89.39% of the stock is owned by hedge funds and other institutional investors.

About Samsara

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.