Samsara (NYSE:IOT) Cut to Hold at Wall Street Zen

Samsara (NYSE:IOT - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Friday.

Other equities research analysts have also issued research reports about the company. Morgan Stanley decreased their price objective on Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Cowen reiterated a "buy" rating on shares of Samsara in a research note on Friday, March 7th. Piper Sandler reissued an "overweight" rating and issued a $53.00 price target (up previously from $44.00) on shares of Samsara in a research report on Wednesday, May 14th. Royal Bank of Canada cut their price objective on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Finally, Craig Hallum reissued a "hold" rating on shares of Samsara in a report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $49.47.

Samsara Stock Performance

NYSE IOT traded up $0.80 on Friday, hitting $46.58. 6,666,624 shares of the stock traded hands, compared to its average volume of 3,755,973. The business's fifty day moving average is $40.91 and its two-hundred day moving average is $45.58. Samsara has a 12 month low of $27.14 and a 12 month high of $61.90. The firm has a market capitalization of $26.52 billion, a price-to-earnings ratio of -99.11 and a beta of 1.70.

Insider Transactions at Samsara

In other news, insider Sanjit Biswas sold 42,526 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $46.23, for a total value of $1,965,976.98. Following the transaction, the insider now owns 858,789 shares of the company's stock, valued at approximately $39,701,815.47. This represents a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Adam Eltoukhy sold 3,903 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $34.07, for a total transaction of $132,975.21. Following the completion of the transaction, the insider now directly owns 320,936 shares in the company, valued at approximately $10,934,289.52. The trade was a 1.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,442,089 shares of company stock valued at $57,323,475. 60.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in Samsara by 26.0% in the first quarter. Rhumbline Advisers now owns 46,249 shares of the company's stock valued at $1,773,000 after acquiring an additional 9,552 shares during the last quarter. IFM Investors Pty Ltd increased its stake in Samsara by 47.6% in the first quarter. IFM Investors Pty Ltd now owns 49,509 shares of the company's stock valued at $1,898,000 after acquiring an additional 15,958 shares during the last quarter. SCS Capital Management LLC bought a new position in Samsara in the first quarter valued at $571,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Samsara by 58.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,823,484 shares of the company's stock valued at $108,224,000 after acquiring an additional 1,047,068 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in Samsara by 3.4% in the first quarter. Empowered Funds LLC now owns 10,168 shares of the company's stock valued at $390,000 after acquiring an additional 335 shares during the last quarter. Institutional investors 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.