Samsara (NYSE:IOT) Raised to Overweight at Piper Sandler

Samsara (NYSE:IOT) was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Monday,Briefing.com Automated Import reports. The firm currently has a $50.00 price target on the stock. Piper Sandler’s price target suggests a potential upside of 41.58% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets reduced their price objective on Samsara from $57.00 to $48.00 and set a “market perform” rating for the company in a report on Friday. Loop Capital lifted their price target on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Raymond James assumed coverage on shares of Samsara in a research report on Wednesday, February 26th. They issued a “market perform” rating on the stock. Morgan Stanley raised their target price on shares of Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company reduced their price target on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $49.60.

Samsara Trading Down 15.7 %

Shares of Samsara stock opened at $35.32 on Monday. The company has a 50-day moving average of $49.02 and a two-hundred day moving average of $48.36. Samsara has a 12-month low of $27.14 and a 12-month high of $61.90. The stock has a market cap of $19.82 billion, a PE ratio of -75.14 and a beta of 1.63.

Insiders Place Their Bets

In other news, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $45.92, for a total transaction of $5,160,489.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sanjit Biswas sold 170,416 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $45.30, for a total transaction of $7,719,844.80. Following the completion of the sale, the insider now directly owns 1,175,569 shares in the company, valued at $53,253,275.70. This represents a 12.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,369,776 shares of company stock valued at $64,065,203 in the last quarter. 60.04% of the stock is currently owned by company insiders.

Institutional Trading of Samsara

Several institutional investors have recently made changes to their positions in IOT. NewEdge Advisors LLC raised its position in shares of Samsara by 262.0% in the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after buying an additional 414 shares during the period. Jones Financial Companies Lllp acquired a new stake in Samsara during the fourth quarter worth about $31,000. Hobbs Group Advisors LLC purchased a new position in shares of Samsara in the 3rd quarter worth about $34,000. IFP Advisors Inc lifted its stake in shares of Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock valued at $35,000 after purchasing an additional 598 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Samsara during the 4th quarter worth about $38,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

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.