Samsara (NYSE:IOT) Coverage Initiated by Analysts at Raymond James

Investment analysts at Raymond James started coverage on shares of Samsara (NYSE:IOT) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a “market perform” rating on the stock.

A number of other research analysts also recently commented on IOT. Loop Capital upped their price objective on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Morgan Stanley increased their price objective on shares of Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Piper Sandler upped their target price on shares of Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Royal Bank of Canada increased their target price on shares of Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Berenberg Bank started coverage on Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Samsara currently has a consensus rating of “Hold” and an average target price of $51.67.

Samsara Stock Down 1.3 %

Shares of NYSE:IOT opened at $49.96 on Wednesday. The firm has a 50-day simple moving average of $49.05 and a 200 day simple moving average of $48.10. Samsara has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The company has a market cap of $28.04 billion, a PE ratio of -106.30 and a beta of 1.61.

Insider Transactions at Samsara

In related news, insider Dominic Phillips sold 20,136 shares of Samsara stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $50.45, for a total transaction of $1,015,861.20. Following the sale, the insider now directly owns 882,664 shares of the company’s stock, valued at $44,530,398.80. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam Eltoukhy sold 9,043 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $53.88, for a total value of $487,236.84. Following the completion of the transaction, the insider now directly owns 331,106 shares of the company’s stock, valued at approximately $17,839,991.28. This trade represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,292,355 shares of company stock worth $61,771,186. Insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IOT. Toronto Dominion Bank increased its holdings in Samsara by 10.9% in the 4th quarter. Toronto Dominion Bank now owns 29,435 shares of the company’s stock valued at $1,286,000 after buying an additional 2,899 shares during the period. Cache Advisors LLC bought a new stake in Samsara in the fourth quarter valued at about $227,000. Fourth Dimension Wealth LLC acquired a new position in Samsara in the fourth quarter worth about $38,000. Continuum Advisory LLC lifted its stake in Samsara by 32.1% during the fourth quarter. Continuum Advisory LLC now owns 1,161 shares of the company’s stock worth $51,000 after purchasing an additional 282 shares during the period. Finally, Woodline Partners LP acquired a new stake in Samsara during the fourth quarter valued at approximately $3,777,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.

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.