Samsara (NYSE:IOT) Now Covered by Loop Capital

Loop Capital initiated coverage on shares of Samsara (NYSE:IOT - Get Free Report) in a report released on Thursday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $42.00 price target on the stock. Loop Capital's target price indicates a potential upside of 35.40% from the stock's previous close.

Separately, StockNews.com raised shares of Samsara from a "sell" rating to a "hold" rating in a research note on Tuesday, March 5th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $32.60.

Samsara Stock Performance

Shares of NYSE:IOT traded up $0.05 during trading on Thursday, reaching $31.02. The stock had a trading volume of 3,380,095 shares, compared to its average volume of 3,681,924. Samsara has a 52 week low of $16.63 and a 52 week high of $40.54. The firm's fifty day moving average is $34.84 and its 200 day moving average is $31.15. The stock has a market cap of $17.08 billion, a price-to-earnings ratio of -58.53 and a beta of 1.56.

Samsara (NYSE:IOT - Get Free Report) last released its earnings results on Thursday, March 7th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $276.27 million during the quarter, compared to analysts' expectations of $258.56 million. Samsara had a negative return on equity of 22.90% and a negative net margin of 30.59%. On average, research analysts forecast that Samsara will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at Samsara

In related news, CEO Sanjit Biswas sold 96,000 shares of the company's stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $30.73, for a total value of $2,950,080.00. Following the sale, the chief executive officer now owns 1,115,921 shares in the company, valued at approximately $34,292,252.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sanjit Biswas sold 96,000 shares of the company's stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $30.73, for a total transaction of $2,950,080.00. Following the completion of the sale, the chief executive officer now owns 1,115,921 shares in the company, valued at $34,292,252.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Bicket sold 92,190 shares of the firm's stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $31.93, for a total value of $2,943,626.70. Following the transaction, the insider now owns 655,982 shares in the company, valued at $20,945,505.26. The disclosure for this sale can be found here. Insiders sold a total of 1,697,460 shares of company stock valued at $58,277,505 over the last three months. Corporate insiders own 66.14% of the company's stock.

Institutional Investors Weigh In On Samsara

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Samsara by 84.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,636,709 shares of the company's stock valued at $92,175,000 after purchasing an additional 3,495,366 shares during the period. Price T Rowe Associates Inc. MD grew its position in Samsara by 19.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,841,815 shares of the company's stock valued at $495,421,000 after buying an additional 2,425,103 shares during the period. Whale Rock Capital Management LLC purchased a new stake in Samsara during the second quarter worth about $52,707,000. PointState Capital LP increased its stake in shares of Samsara by 62.7% during the 1st quarter. PointState Capital LP now owns 3,641,355 shares of the company's stock worth $58,335,000 after purchasing an additional 1,402,994 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Samsara by 13,691.1% during the first quarter. Bank of America Corp DE now owns 1,266,710 shares of the company's stock valued at $24,980,000 after purchasing an additional 1,257,525 shares during the period. Hedge funds and other institutional investors own 89.39% 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.