Samsara (NYSE:IOT) Hits New 12-Month High – Still a Buy?

Samsara Inc. (NYSE:IOT) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $61.90 and last traded at $58.82, with a volume of 5419329 shares. The stock had previously closed at $60.96.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IOT. Royal Bank of Canada upped their target price on shares of Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. upped their price objective on shares of Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Truist Financial lifted their target price on shares of Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company lifted their price target on Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Samsara presently has an average rating of “Hold” and a consensus price target of $51.67.

Samsara Price Performance

The firm’s 50 day moving average price is $48.92 and its two-hundred day moving average price is $47.77. The stock has a market cap of $29.59 billion, a PE ratio of -112.19 and a beta of 1.61.

Insider Activity at Samsara

In other news, major shareholder Sanjit Biswas sold 83,333 shares of Samsara stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $53.81, for a total value of $4,484,148.73. Following the completion of the transaction, the insider now directly owns 19,200 shares in the company, valued at approximately $1,033,152. The trade was a 81.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $45.92, for a total value of $5,160,489.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,530,506 shares of company stock worth $75,086,182. Corporate insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several hedge funds have recently bought and sold shares of IOT. State Street Corp grew its position in shares of Samsara by 4.7% during the 3rd quarter. State Street Corp now owns 2,125,584 shares of the company’s stock valued at $102,283,000 after purchasing an additional 95,006 shares in the last quarter. HighTower Advisors LLC boosted its stake in Samsara by 193.4% during the third quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock valued at $2,981,000 after buying an additional 40,833 shares during the period. Swiss National Bank grew its position in Samsara by 3.1% during the third quarter. Swiss National Bank now owns 615,600 shares of the company’s stock worth $29,623,000 after buying an additional 18,400 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Samsara in the 4th quarter worth about $422,000. Finally, International Assets Investment Management LLC raised its holdings in shares of Samsara by 2,787.2% in the 3rd quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock valued at $521,000 after acquiring an additional 10,452 shares in the last quarter. Hedge funds and other institutional investors own 96.02% 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.