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

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

Wall Street Analyst Weigh In

A number of research analysts have commented on IOT shares. JPMorgan Chase & Co. increased their price target on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley lifted their target price on shares of Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Berenberg Bank assumed coverage on Samsara in a report on Monday, February 3rd. They issued a “hold” rating and a $57.00 price objective on the stock. Finally, Wells Fargo & Company increased their target price on shares of Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Ten equities 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 Price Performance

The firm has a market cap of $29.59 billion, a P/E ratio of -112.19 and a beta of 1.61. The firm’s 50 day moving average is $48.92 and its 200 day moving average is $47.77.

Insider Activity at Samsara

In other Samsara news, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of Samsara 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Sanjit Biswas sold 83,333 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $53.81, for a total transaction of $4,484,148.73. Following the sale, the insider now owns 19,200 shares in the company, valued at approximately $1,033,152. The trade was a 81.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,530,506 shares of company stock valued at $75,086,182 in the last 90 days. Corporate insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IOT. GLOBALT Investments LLC GA lifted its holdings in shares of Samsara by 0.3% during the fourth quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company’s stock valued at $2,444,000 after purchasing an additional 182 shares in the last quarter. Continuum Advisory LLC grew its stake in shares of Samsara by 39.1% in the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after acquiring an additional 247 shares during the period. Private Trust Co. NA raised its holdings in shares of Samsara by 19.2% during the third quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock valued at $75,000 after purchasing an additional 250 shares during the last quarter. Tidal Investments LLC lifted its position in Samsara by 4.6% during the fourth quarter. Tidal Investments LLC now owns 6,403 shares of the company’s stock valued at $280,000 after purchasing an additional 281 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Samsara by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 5,791 shares of the company’s stock worth $253,000 after purchasing an additional 300 shares during the last quarter. 96.02% of the stock is owned by 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.