Samsara (NYSE:IOT) Earns Hold Rating from Analysts at Berenberg Bank

Equities researchers at Berenberg Bank began coverage on shares of Samsara (NYSE:IOT) in a report released on Monday,Briefing.com Automated Import reports. The firm set a “hold” rating and a $57.00 price target on the stock. Berenberg Bank’s price target suggests a potential upside of 15.11% from the stock’s previous close.

Several other research firms have also recently commented on IOT. Wells Fargo & Company raised their price target on shares of Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. JPMorgan Chase & Co. boosted their target price 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. BMO Capital Markets boosted their target price on shares of Samsara from $44.00 to $57.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Truist Financial boosted 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. Finally, Royal Bank of Canada boosted their price target on shares of Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.67.

Samsara Stock Performance

Shares of IOT stock traded down $1.98 during trading on Monday, hitting $49.52. 398,620 shares of the company were exchanged, compared to its average volume of 2,430,551. The firm has a market capitalization of $27.79 billion, a price-to-earnings ratio of -105.82 and a beta of 1.61. The business’s 50-day simple moving average is $47.80 and its 200 day simple moving average is $45.92. Samsara has a twelve month low of $27.14 and a twelve month high of $57.51.

Insider Activity

In related news, insider Adam Eltoukhy sold 9,307 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $49.55, for a total transaction of $461,161.85. Following the completion of the sale, the insider now directly owns 396,784 shares of the company’s stock, valued at approximately $19,660,647.20. This represents a 2.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Bicket sold 107,152 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $51.13, for a total value of $5,478,681.76. Following the sale, the insider now directly owns 138,000 shares of the company’s stock, valued at approximately $7,055,940. The trade was a 43.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,657,460 shares of company stock valued at $80,657,496 in the last ninety days. 60.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Samsara

A number of large investors have recently bought and sold shares of IOT. Dimensional Fund Advisors LP boosted its position in Samsara by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 301,705 shares of the company’s stock worth $10,164,000 after acquiring an additional 14,215 shares during the last quarter. Bank of Montreal Can acquired a new position in Samsara during the 2nd quarter worth approximately $537,000. SG Americas Securities LLC acquired a new position in Samsara during the 3rd quarter worth approximately $526,000. Handelsbanken Fonder AB boosted its holdings in shares of Samsara by 17.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 47,000 shares of the company’s stock valued at $2,262,000 after buying an additional 7,100 shares during the last quarter. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of Samsara in the 3rd quarter valued at approximately $339,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

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.