Samsara (NYSE:IOT) Trading Up 3.4% – Still a Buy?

Samsara Inc. (NYSE:IOT)’s share price was up 3.4% on Thursday . The company traded as high as $50.04 and last traded at $49.58. Approximately 1,129,335 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 3,722,061 shares. The stock had previously closed at $47.93.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IOT. Truist Financial raised their price target on Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Morgan Stanley upped their target price on shares of Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Royal Bank of Canada raised their price target on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, September 6th. BNP Paribas initiated coverage on Samsara in a research report on Tuesday. They issued a “neutral” rating and a $46.00 price objective on the stock. Finally, Bank of America boosted 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.00.

Samsara Price Performance

The stock has a 50 day moving average price of $43.78 and a 200-day moving average price of $38.17. The stock has a market capitalization of $28.09 billion, a P/E ratio of -105.19 and a beta of 1.52.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The business’s revenue was up 36.9% on a year-over-year basis. Research analysts predict that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In other Samsara news, CAO James Andrew Munk sold 1,093 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total value of $51,709.83. Following the completion of the sale, the chief accounting officer now owns 319,667 shares in the company, valued at approximately $15,123,445.77. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Samsara news, insider Adam Eltoukhy sold 9,471 shares of Samsara stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $37.79, for a total transaction of $357,909.09. Following the sale, the insider now directly owns 465,967 shares of the company’s stock, valued at approximately $17,608,892.93. The trade was 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. Also, CAO James Andrew Munk sold 1,093 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total value of $51,709.83. Following the completion of the transaction, the chief accounting officer now owns 319,667 shares of the company’s stock, valued at approximately $15,123,445.77. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,053,030 shares of company stock valued at $87,159,176. Insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CHURCHILL MANAGEMENT Corp boosted its stake in Samsara by 135.6% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 60,251 shares of the company’s stock worth $2,277,000 after acquiring an additional 34,679 shares in the last quarter. Mission Wealth Management LP bought a new position in Samsara during the 1st quarter valued at approximately $1,100,000. Quarry LP purchased a new position in Samsara during the fourth quarter valued at $37,000. Magnetar Financial LLC purchased a new stake in shares of Samsara in the second quarter worth $1,240,000. Finally, Swiss National Bank purchased a new position in shares of Samsara in the 1st quarter worth about $19,477,000. 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.