Samsara (NYSE:IOT) Raised to "Buy" at Wall Street Zen

Wall Street Zen upgraded shares of Samsara (NYSE:IOT - Free Report) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Several other equities research analysts have also recently weighed in on the company. Piper Sandler reissued an "overweight" rating and set a $53.00 price objective (up from $44.00) on shares of Samsara in a research note on Wednesday, May 14th. Berenberg Bank started coverage on shares of Samsara in a research note on Monday, February 3rd. They set a "hold" rating and a $57.00 price target for the company. Raymond James began coverage on shares of Samsara in a report on Wednesday, February 26th. They set a "market perform" rating on the stock. Morgan Stanley decreased their price objective on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada dropped their target price on Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.47.

Samsara Trading Up 3.2%

IOT traded up $1.47 during trading hours on Thursday, hitting $46.97. The company's stock had a trading volume of 1,022,060 shares, compared to its average volume of 3,878,884. The stock has a market cap of $26.74 billion, a price-to-earnings ratio of -99.93 and a beta of 1.70. The business's 50-day moving average price is $40.49 and its 200-day moving average price is $45.65. Samsara has a 12 month low of $27.14 and a 12 month high of $61.90.

Insider Transactions at Samsara

In other news, Director Jonathan Chadwick sold 22,500 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $38.72, for a total value of $871,200.00. Following the completion of the sale, the director now owns 373,579 shares in the company, valued at approximately $14,464,978.88. The trade was a 5.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sanjit Biswas sold 42,526 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $46.23, for a total transaction of $1,965,976.98. Following the transaction, the insider now owns 858,789 shares in the company, valued at approximately $39,701,815.47. This represents a 4.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,442,089 shares of company stock valued at $57,323,475. 60.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Samsara

Large investors have recently bought and sold shares of the business. NewEdge Advisors LLC increased its holdings 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 acquiring an additional 414 shares during the period. Keystone Financial Group Inc. boosted its position in Samsara by 300.0% during the first quarter. Keystone Financial Group Inc. now owns 600 shares of the company's stock valued at $25,000 after purchasing an additional 450 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Samsara in the fourth quarter worth about $31,000. IFP Advisors Inc lifted its position in shares of Samsara by 290.3% during the fourth quarter. IFP Advisors Inc now owns 804 shares of the company's stock valued at $35,000 after buying an additional 598 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Samsara during the first quarter valued at about $31,000. 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.