Samsara (NYSE:IOT) Given New $54.00 Price Target at BMO Capital Markets

Samsara (NYSE:IOT - Get Free Report) had its price objective hoisted by investment analysts at BMO Capital Markets from $48.00 to $54.00 in a note issued to investors on Monday, MarketBeat.com reports. The brokerage presently has an "outperform" rating on the stock. BMO Capital Markets' price objective would suggest a potential upside of 13.09% from the stock's previous close.

Other analysts have also issued reports about the stock. Piper Sandler reaffirmed an "overweight" rating and set a $53.00 price target (up from $44.00) on shares of Samsara in a research report on Wednesday, May 14th. Royal Bank of Canada lowered their target price on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Berenberg Bank assumed coverage on Samsara in a research note on Monday, February 3rd. They set a "hold" rating and a $57.00 price objective on the stock. Wells Fargo & Company lowered their price objective on Samsara from $51.00 to $48.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Morgan Stanley decreased their price target on Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $49.87.

Samsara Stock Performance

IOT traded up $1.02 on Monday, hitting $47.75. 3,662,518 shares of the company were exchanged, compared to its average volume of 3,737,522. Samsara has a 12 month low of $27.14 and a 12 month high of $61.90. The company has a market cap of $27.19 billion, a PE ratio of -101.60 and a beta of 1.74. The stock's fifty day moving average is $41.27 and its 200-day moving average is $45.48.

Insider Activity at Samsara

In related news, insider Adam Eltoukhy sold 31,042 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $35.89, for a total transaction of $1,114,097.38. Following the transaction, the insider now directly owns 331,106 shares of the company's stock, valued at $11,883,394.34. This trade represents a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan Chadwick sold 22,500 shares of the company's stock in a transaction that occurred 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 sale, the director now directly owns 373,579 shares in the company, valued at $14,464,978.88. This trade represents a 5.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,296,697 shares of company stock valued at $50,886,971. 60.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Samsara

A number of large investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new position in shares of Samsara in the fourth quarter valued at about $431,000. Charles Schwab Investment Management Inc. increased its position in shares of Samsara by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,876,944 shares of the company's stock valued at $82,004,000 after buying an additional 47,911 shares during the period. Wells Fargo & Company MN increased its position in shares of Samsara by 101.4% during the fourth quarter. Wells Fargo & Company MN now owns 129,176 shares of the company's stock valued at $5,644,000 after buying an additional 65,028 shares during the period. Renaissance Technologies LLC increased its position in shares of Samsara by 30.4% during the fourth quarter. Renaissance Technologies LLC now owns 764,300 shares of the company's stock valued at $33,392,000 after buying an additional 178,102 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Samsara by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company's stock worth $916,555,000 after acquiring an additional 863,197 shares in the last quarter. 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.