Morgan Stanley Cuts Samsara (NYSE:IOT) Price Target to $50.00

Samsara (NYSE:IOT - Free Report) had its price objective cut by Morgan Stanley from $56.00 to $50.00 in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. They currently have an equal weight rating on the stock.

IOT has been the subject of a number of other research reports. Raymond James assumed coverage on shares of Samsara in a report on Wednesday, February 26th. They set a "market perform" rating for the company. Truist Financial dropped their price objective on Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company lowered their target price on Samsara from $55.00 to $51.00 and set an "overweight" rating for the company in a report on Friday, March 7th. Berenberg Bank started coverage on shares of Samsara in a report on Monday, February 3rd. They set a "hold" rating and a $57.00 target price on the stock. Finally, Craig Hallum reaffirmed a "hold" rating on shares of Samsara in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $49.07.

Samsara Trading Down 5.4 %

Shares of IOT stock traded down $2.01 on Wednesday, reaching $35.51. 3,856,568 shares of the company's stock were exchanged, compared to its average volume of 3,772,550. The company's fifty day simple moving average is $42.55 and its 200 day simple moving average is $46.76. Samsara has a 52 week low of $27.14 and a 52 week high of $61.90. The stock has a market capitalization of $20.22 billion, a PE ratio of -75.55 and a beta of 1.71.

Insider Activity at Samsara

In other news, insider Sanjit Biswas sold 13,086 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $55.75, for a total value of $729,544.50. Following the sale, the insider now directly owns 1,571,848 shares of the company's stock, valued at $87,630,526. This represents a 0.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam Eltoukhy sold 9,043 shares of Samsara stock in a transaction dated 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 owns 331,106 shares of the company's stock, valued at $17,839,991.28. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,264,146 shares of company stock valued at $53,291,272 in the last ninety days. Company insiders own 60.04% of the company's stock.

Institutional Trading of Samsara

A number of hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in shares of Samsara by 262.0% in the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after purchasing an additional 414 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in Samsara in the 4th quarter valued at $31,000. IFP Advisors Inc raised its position in Samsara by 290.3% during the fourth quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after acquiring an additional 598 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Samsara during the first quarter worth about $31,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in Samsara in the 4th quarter worth about $38,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

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.