Piper Sandler Cuts Samsara (NYSE:IOT) Price Target to $44.00

Samsara (NYSE:IOT) had its price objective cut by Piper Sandler from $50.00 to $44.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

IOT has been the topic of several other research reports. Craig Hallum restated a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Berenberg Bank assumed coverage on Samsara in a research note on Monday, February 3rd. They issued a “hold” rating and a $57.00 price target for the company. Cowen reiterated a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Raymond James initiated coverage on Samsara in a research report on Wednesday, February 26th. They issued a “market perform” rating for the company. Finally, Royal Bank of Canada decreased their target price on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Samsara has a consensus rating of “Moderate Buy” and an average price target of $49.20.

Samsara Trading Up 0.8 %

Shares of IOT stock opened at $33.91 on Tuesday. Samsara has a twelve month low of $27.14 and a twelve month high of $61.90. The stock has a 50 day moving average of $45.28 and a 200 day moving average of $47.37. The stock has a market cap of $19.31 billion, a P/E ratio of -72.15 and a beta of 1.71.

Insider Buying and Selling at Samsara

In related news, insider Sanjit Biswas sold 13,086 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $55.75, for a total transaction of $729,544.50. Following the completion of the sale, the insider now directly owns 1,571,848 shares in the company, valued at approximately $87,630,526. This trade represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of Samsara stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $34.19, for a total transaction of $10,015,310.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,484,276 shares of company stock worth $64,741,770. Insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its stake in Samsara by 24.0% during the fourth quarter. FMR LLC now owns 14,743,175 shares of the company’s stock worth $644,129,000 after acquiring an additional 2,852,575 shares during the last quarter. Jordan Park Trust Co LLC acquired a new stake in shares of Samsara during the 4th quarter worth about $112,041,000. Norges Bank acquired a new position in Samsara in the fourth quarter valued at about $106,274,000. Arrowstreet Capital Limited Partnership boosted its stake in Samsara by 107.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock worth $181,045,000 after buying an additional 2,148,081 shares during the period. Finally, Lord Abbett & CO. LLC increased its position in shares of Samsara by 1,909.4% during the third quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company’s stock valued at $90,026,000 after acquiring an additional 1,777,757 shares during the last quarter. 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.