Samsara Inc. (NYSE:IOT) Receives $48.87 Average Price Target from Analysts

Samsara Inc. (NYSE:IOT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seventeen analysts that are covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $48.87.

A number of equities research analysts have recently commented on the stock. Berenberg Bank assumed coverage on shares of Samsara in a research note on Monday, February 3rd. They set a "hold" rating and a $57.00 price objective on the stock. Truist Financial dropped their price objective on shares of Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. Piper Sandler dropped their price objective on shares of Samsara from $50.00 to $44.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Raymond James assumed coverage on shares of Samsara in a research note on Wednesday, February 26th. They set a "market perform" rating on the stock. Finally, BMO Capital Markets raised shares of Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price objective on the stock in a research note on Monday, March 10th.

Samsara Stock Down 1.6 %

Shares of NYSE IOT traded down $0.64 during midday trading on Thursday, reaching $39.16. 2,310,855 shares of the stock were exchanged, compared to its average volume of 3,769,231. The firm has a market cap of $22.29 billion, a price-to-earnings ratio of -83.32 and a beta of 1.71. Samsara has a twelve month low of $27.14 and a twelve month high of $61.90. The firm has a 50-day simple moving average of $39.78 and a two-hundred day simple moving average of $46.26.

Insider Buying and Selling at Samsara

In other news, Director Jonathan Chadwick sold 22,500 shares of Samsara stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.72, for a total transaction of $871,200.00. Following the transaction, the director now owns 373,579 shares in the company, valued at $14,464,978.88. The trade was a 5.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of Samsara stock in a transaction on Monday, March 10th. The stock was sold at an average price of $34.19, for a total value of $10,015,310.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,243,232 shares of company stock worth $49,935,075. Corporate insiders own 60.04% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GLOBALT Investments LLC GA raised its holdings in shares of Samsara by 0.3% during the 4th quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company's stock worth $2,444,000 after acquiring an additional 182 shares during the period. Tidal Investments LLC raised its holdings in Samsara by 4.6% in the 4th quarter. Tidal Investments LLC now owns 6,403 shares of the company's stock valued at $280,000 after buying an additional 281 shares during the period. Continuum Advisory LLC raised its holdings in Samsara by 32.1% in the 4th quarter. Continuum Advisory LLC now owns 1,161 shares of the company's stock valued at $51,000 after buying an additional 282 shares during the period. CIBC Asset Management Inc raised its holdings in Samsara by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,791 shares of the company's stock valued at $253,000 after buying an additional 300 shares during the period. Finally, Cim LLC raised its holdings in Samsara by 1.3% in the 4th quarter. Cim LLC now owns 31,164 shares of the company's stock valued at $1,362,000 after buying an additional 386 shares during the period. Hedge funds and other institutional investors own 96.02% 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.