Brokerages Set Samsara Inc. (NYSE:IOT) Price Target at $49.47

Samsara Inc. (NYSE:IOT - Get Free Report) has received an average rating of "Moderate Buy" from the seventeen ratings firms that are covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $49.47.

Several equities analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Royal Bank of Canada dropped their price target on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Berenberg Bank started coverage on Samsara in a research report on Monday, February 3rd. They set a "hold" rating and a $57.00 price objective for the company. Craig Hallum reaffirmed a "hold" rating on shares of Samsara in a research report on Friday, March 7th. Finally, Cowen reaffirmed a "buy" rating on shares of Samsara in a report on Friday, March 7th.

Insider Buying and Selling

In other news, insider Adam Eltoukhy sold 9,043 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $53.88, for a total value of $487,236.84. Following the transaction, the insider now directly owns 331,106 shares of the company's stock, valued at approximately $17,839,991.28. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sanjit Biswas sold 118,589 shares of Samsara stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $49.15, for a total value of $5,828,649.35. Following the sale, the insider now directly owns 126,000 shares of the company's stock, valued at approximately $6,192,900. The trade was a 48.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,239,721 shares of company stock worth $48,223,793. 60.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IOT. Barclays PLC increased its holdings in Samsara by 163.2% in the third quarter. Barclays PLC now owns 412,066 shares of the company's stock worth $19,829,000 after buying an additional 255,532 shares during the last quarter. Arkadios Wealth Advisors grew its position in Samsara by 38.0% in the fourth quarter. Arkadios Wealth Advisors now owns 36,350 shares of the company's stock worth $1,588,000 after acquiring an additional 10,000 shares in the last quarter. Oak Ridge Investments LLC acquired a new position in shares of Samsara during the 4th quarter worth $457,000. UMB Bank n.a. raised its holdings in shares of Samsara by 62.1% during the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company's stock valued at $72,000 after purchasing an additional 635 shares in the last quarter. Finally, Legal Advantage Investments Inc. acquired a new stake in shares of Samsara in the 4th quarter valued at $218,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Samsara Trading Down 3.4%

IOT stock traded down $1.62 during trading hours on Monday, hitting $45.69. 2,078,793 shares of the stock traded hands, compared to its average volume of 3,739,686. The stock has a 50-day simple moving average of $39.92 and a 200 day simple moving average of $45.80. The company has a market cap of $26.01 billion, a P/E ratio of -97.22 and a beta of 1.70. Samsara has a one year low of $27.14 and a one year high of $61.90.

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.