Samsara (NYSE:IOT) Coverage Initiated at Raymond James

Equities researchers at Raymond James initiated coverage on shares of Samsara (NYSE:IOT) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set a “market perform” rating on the stock.

Several other research analysts also recently weighed in on IOT. Wells Fargo & Company upped their target price on Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Morgan Stanley increased their price objective on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. increased their price objective on Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. BMO Capital Markets raised their target price on Samsara from $44.00 to $57.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. Finally, Truist Financial raised their target price on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.67.

Samsara Price Performance

Shares of IOT stock opened at $47.36 on Wednesday. The company has a market cap of $26.58 billion, a price-to-earnings ratio of -100.76 and a beta of 1.61. The stock has a 50 day simple moving average of $49.27 and a 200-day simple moving average of $48.10. Samsara has a 1-year low of $27.14 and a 1-year high of $61.90.

Insider Transactions at Samsara

In related news, insider Sanjit Biswas sold 118,589 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $49.15, for a total transaction of $5,828,649.35. Following the completion of the transaction, the insider now directly owns 126,000 shares in the company, valued at $6,192,900. This trade represents a 48.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were 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 1,410,944 shares of company stock worth $67,599,835. 60.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Samsara

A number of hedge funds have recently bought and sold shares of IOT. International Assets Investment Management LLC raised its position in shares of Samsara by 2,787.2% during the 3rd quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock worth $521,000 after acquiring an additional 10,452 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Samsara by 3.5% during the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock worth $433,000 after buying an additional 304 shares during the period. abrdn plc purchased a new position in shares of Samsara in the 3rd quarter valued at approximately $207,000. Avitas Wealth Management LLC purchased a new position in shares of Samsara in the 3rd quarter valued at approximately $245,000. Finally, AustralianSuper Pty Ltd grew its stake in shares of Samsara by 97.5% in the 3rd quarter. AustralianSuper Pty Ltd now owns 27,533 shares of the company’s stock valued at $1,325,000 after purchasing an additional 13,590 shares during the last quarter. Institutional investors and hedge funds 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.