Samsara (NYSE:IOT) Lowered to Sell at StockNews.com

StockNews.com cut shares of Samsara (NYSE:IOT) from a hold rating to a sell rating in a report released on Friday.

IOT has been the topic of several other research reports. BMO Capital Markets lifted their price objective on Samsara from $40.00 to $44.00 and gave the stock a market perform rating in a report on Friday, September 6th. Loop Capital boosted their price objective on Samsara from $42.00 to $46.00 and gave the stock a buy rating in a research note on Friday, September 6th. Piper Sandler increased their price objective on shares of Samsara from $36.00 to $40.00 and gave the stock a neutral rating in a report on Friday, September 6th. Morgan Stanley raised their target price on shares of Samsara from $38.00 to $40.00 and gave the company an equal weight rating in a research note on Friday, September 6th. Finally, BNP Paribas began coverage on Samsara in a report on Tuesday, October 8th. They issued a neutral rating and a $46.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $43.00.

Samsara Stock Performance

NYSE:IOT opened at $50.51 on Friday. The business has a fifty day moving average of $44.08 and a 200-day moving average of $38.25. The stock has a market cap of $27.82 billion, a price-to-earnings ratio of -101.02 and a beta of 1.52. Samsara has a 1 year low of $21.48 and a 1 year high of $51.53.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $300.20 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 36.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.11) EPS. On average, equities research analysts predict that Samsara will post -0.34 EPS for the current year.

Insider Activity at Samsara

In related news, 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 sale, the chief accounting officer now directly owns 319,667 shares in the company, valued at $15,123,445.77. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Adam Eltoukhy sold 4,000 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $50.00, for a total transaction of $200,000.00. Following the transaction, the insider now owns 396,784 shares in the company, valued at $19,839,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James Andrew Munk sold 1,093 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the sale, the chief accounting officer now owns 319,667 shares of the company’s stock, valued at $15,123,445.77. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,984,447 shares of company stock worth $84,552,055 in the last quarter. 60.04% of the stock is owned by insiders.

Institutional Trading of Samsara

Several institutional investors have recently made changes to their positions in the company. Carnegie Investment Counsel grew its stake in Samsara by 27.0% in the 3rd 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 during the period. Paragon Capital Management Ltd purchased a new stake in Samsara during the third quarter valued at about $935,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Samsara by 250.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after acquiring an additional 1,000 shares in the last quarter. Juncture Wealth Strategies LLC lifted its holdings in Samsara by 140.9% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 17,323 shares of the company’s stock worth $834,000 after purchasing an additional 10,133 shares in the last quarter. Finally, Westwind Capital lifted its stake in Samsara by 6,293,833.3% in the 3rd quarter. Westwind Capital now owns 377,636 shares of the company’s stock worth $18,172,000 after purchasing an additional 377,630 shares in the last quarter. Institutional investors own 89.39% of the company’s stock.

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.