Samsara (NYSE:IOT) Stock Rating Lowered by Wall Street Zen

Key Points

• Samsara has been downgraded from a "buy" to a "hold" rating by Wall Street Zen amidst mixed analyst perspectives on the stock.
• The consensus rating for Samsara is currently "Hold" with an average price target of $50.21, based on evaluations from multiple analysts.
• Insiders have significantly sold stocks recently, with over 2.9 million shares sold valued at approximately $120 million during the last quarter.

Wall Street Zen cut shares of Samsara (NYSE:IOT - Free Report) from a buy rating to a hold rating in a report issued on Saturday morning.

Several other equities research analysts have also recently issued reports on IOT. BMO Capital Markets lifted their target price on Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. Wells Fargo & Company boosted their target price on Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Evercore ISI set a $45.00 target price on Samsara in a research report on Wednesday, June 25th. Morgan Stanley dropped their target price on Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Piper Sandler restated an "overweight" rating and set a $47.00 target price (down previously from $53.00) on shares of Samsara in a research report on Thursday, August 7th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $50.21.

Samsara Stock Down 0.2%

NYSE:IOT traded down $0.06 on Friday, reaching $32.63. 1,488,087 shares of the company's stock traded hands, compared to its average volume of 4,657,557. The stock has a 50-day simple moving average of $38.91 and a 200-day simple moving average of $42.32. The firm has a market cap of $18.58 billion, a PE ratio of -148.32 and a beta of 1.62. Samsara has a 12 month low of $31.40 and a 12 month high of $61.90.

Samsara (NYSE:IOT - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. The firm had revenue of $366.88 million for the quarter, compared to analysts' expectations of $351.44 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The business's revenue was up 30.7% compared to the same quarter last year. On average, equities analysts anticipate that Samsara will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Samsara

In related news, major shareholder Parallel Fund Iv L.P. Ah sold 399,026 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $41.33, for a total value of $16,491,744.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc L. Andreessen sold 399,026 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $41.33, for a total transaction of $16,491,744.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,926,739 shares of company stock worth $119,969,024. 46.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Samsara

A number of large investors have recently bought and sold shares of the business. Gerber Kawasaki Wealth & Investment Management increased its position in shares of Samsara by 0.5% during the first quarter. Gerber Kawasaki Wealth & Investment Management now owns 54,000 shares of the company's stock worth $2,070,000 after purchasing an additional 250 shares in the last quarter. Nemes Rush Group LLC increased its position in shares of Samsara by 7.8% during the first quarter. Nemes Rush Group LLC now owns 3,597 shares of the company's stock worth $138,000 after purchasing an additional 260 shares in the last quarter. Tidal Investments LLC increased its position in shares of Samsara by 4.6% during the fourth quarter. Tidal Investments LLC now owns 6,403 shares of the company's stock worth $280,000 after purchasing an additional 281 shares in the last quarter. Continuum Advisory LLC increased its position in shares of Samsara by 32.1% during the fourth quarter. Continuum Advisory LLC now owns 1,161 shares of the company's stock worth $51,000 after purchasing an additional 282 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Samsara by 3.4% during the first quarter. Empowered Funds LLC now owns 10,168 shares of the company's stock worth $390,000 after purchasing an additional 335 shares in 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.