Samsara Inc. (NYSE:IOT - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as $40.69 and last traded at $39.67, with a volume of 460237 shares changing hands. The stock had previously closed at $39.75.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. StockNews.com upgraded Samsara from a "sell" rating to a "hold" rating in a research report on Tuesday, March 5th. Loop Capital initiated coverage on shares of Samsara in a report on Thursday, April 18th. They set a "buy" rating and a $42.00 target price for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.60.
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Samsara Trading Up 0.3 %
The firm's 50-day moving average price is $35.44 and its two-hundred day moving average price is $32.32.
Samsara (NYSE:IOT - Get Free Report) last posted its earnings results on Thursday, March 7th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $276.27 million for the quarter, compared to analyst estimates of $258.56 million. Samsara had a negative net margin of 30.59% and a negative return on equity of 22.90%. Analysts expect that Samsara Inc. will post -0.4 earnings per share for the current year.
Insider Buying and Selling at Samsara
In other news, insider John Bicket sold 71,521 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $38.17, for a total transaction of $2,729,956.57. Following the completion of the transaction, the insider now directly owns 154,631 shares in the company, valued at approximately $5,902,265.27. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider John Bicket sold 71,521 shares of the business's stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $38.17, for a total value of $2,729,956.57. Following the sale, the insider now directly owns 154,631 shares in the company, valued at approximately $5,902,265.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $39.26, for a total transaction of $3,768,960.00. Following the transaction, the chief executive officer now directly owns 1,307,921 shares of the company's stock, valued at approximately $51,348,978.46. The disclosure for this sale can be found here. Insiders have sold 1,681,107 shares of company stock worth $59,465,592 over the last quarter. 66.14% of the stock is currently owned by company insiders.
Institutional Trading of Samsara
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of Samsara by 22.6% during the third quarter. Bank of New York Mellon Corp now owns 175,682 shares of the company's stock worth $4,429,000 after purchasing an additional 32,369 shares in the last quarter. Strs Ohio acquired a new stake in Samsara during the 3rd quarter worth approximately $2,786,000. Bellwether Advisors LLC purchased a new position in Samsara in the 3rd quarter valued at approximately $5,872,000. Principal Financial Group Inc. grew its stake in shares of Samsara by 608.4% in the third quarter. Principal Financial Group Inc. now owns 745,565 shares of the company's stock worth $18,796,000 after acquiring an additional 640,321 shares in the last quarter. Finally, Lisanti Capital Growth LLC increased its position in shares of Samsara by 24.5% during the third quarter. Lisanti Capital Growth LLC now owns 128,820 shares of the company's stock worth $3,248,000 after acquiring an additional 25,325 shares during the period. Hedge funds and other institutional investors own 89.39% of the company's stock.
Samsara Company Profile
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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.
Further Reading
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