Samsara (NYSE:IOT) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Samsara (NYSE:IOT) from a hold rating to a sell rating in a research note published on Wednesday morning.

A number of other analysts have also recently commented on the company. Bank of America lifted their target price on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Loop Capital lifted their target price on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Truist Financial lifted their target price on Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Finally, Evercore ISI lifted their target price on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Samsara has an average rating of “Hold” and a consensus price target of $44.20.

Samsara Trading Down 3.3 %

Shares of NYSE IOT opened at $46.22 on Wednesday. Samsara has a 12-month low of $22.19 and a 12-month high of $51.53. The business’s fifty day simple moving average is $46.62 and its 200-day simple moving average is $39.66.

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

Insider Buying and Selling

In other Samsara news, CEO Sanjit Biswas sold 42,994 shares of Samsara stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $48.55, for a total value of $2,087,358.70. Following the sale, the chief executive officer now owns 440,892 shares of the company’s stock, valued at approximately $21,405,306.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Samsara news, CEO Sanjit Biswas sold 42,994 shares of Samsara stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $48.55, for a total value of $2,087,358.70. Following the sale, the chief executive officer now owns 440,892 shares of the company’s stock, valued at approximately $21,405,306.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lara Caimi sold 7,508 shares of Samsara stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $46.42, for a total value of $348,521.36. Following the completion of the sale, the insider now directly owns 1,093,535 shares in the company, valued at $50,761,894.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,879,269 shares of company stock valued at $83,386,415 over the last quarter. 60.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Samsara

Institutional investors have recently added to or reduced their stakes in the business. Resources Management Corp CT ADV lifted its position in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after acquiring an additional 490 shares during the period. National Bank of Canada FI acquired a new stake in shares of Samsara during the 2nd quarter valued at approximately $38,000. Nemes Rush Group LLC acquired a new stake in shares of Samsara during the 2nd quarter valued at approximately $45,000. UMB Bank n.a. raised its position in shares of Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after purchasing an additional 418 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Samsara by 250.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 89.39% 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.