Samsara (NYSE:IOT) Price Target Lowered to $48.00 at Wells Fargo & Company

Samsara (NYSE:IOT - Get Free Report) had its target price dropped by analysts at Wells Fargo & Company from $51.00 to $48.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 21.73% from the company's current price.

A number of other analysts have also recently commented on the company. Piper Sandler dropped their price target on Samsara from $50.00 to $44.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Truist Financial cut their target price on Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. Cowen reaffirmed a "buy" rating on shares of Samsara in a research report on Friday, March 7th. Morgan Stanley cut their price objective on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Berenberg Bank began coverage on shares of Samsara in a report on Monday, February 3rd. They issued a "hold" rating and a $57.00 target price for the company. Nine 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.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $48.87.

Samsara Stock Performance

Shares of Samsara stock traded up $0.21 during trading on Tuesday, hitting $39.43. The company's stock had a trading volume of 2,163,173 shares, compared to its average volume of 3,776,769. Samsara has a 52 week low of $27.14 and a 52 week high of $61.90. The company has a fifty day simple moving average of $40.47 and a two-hundred day simple moving average of $46.41. The company has a market capitalization of $22.45 billion, a PE ratio of -83.89 and a beta of 1.71.

Insiders Place Their Bets

In related news, insider Adam Eltoukhy sold 9,043 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $53.88, for a total value of $487,236.84. Following the completion of the sale, the insider now directly owns 331,106 shares of the company's stock, valued at approximately $17,839,991.28. This represents a 2.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sanjit Biswas sold 13,086 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $55.75, for a total transaction of $729,544.50. Following the sale, the insider now owns 1,571,848 shares in the company, valued at approximately $87,630,526. The trade was a 0.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,350,384 shares of company stock worth $55,413,757 over the last quarter. 60.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. GLOBALT Investments LLC GA lifted its position in shares of Samsara by 0.3% in the fourth quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company's stock valued at $2,444,000 after acquiring an additional 182 shares in the last quarter. Tidal Investments LLC lifted its holdings in Samsara by 4.6% in the 4th 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 boosted its stake in Samsara by 32.1% in the 4th quarter. Continuum Advisory LLC now owns 1,161 shares of the company's stock worth $51,000 after purchasing an additional 282 shares during the period. CIBC Asset Management Inc grew its holdings in Samsara by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 5,791 shares of the company's stock valued at $253,000 after buying an additional 300 shares in the last quarter. Finally, Cim LLC grew its holdings in Samsara by 1.3% during the 4th quarter. Cim LLC now owns 31,164 shares of the company's stock valued at $1,362,000 after buying an additional 386 shares in the last quarter. Institutional investors own 96.02% of the company's stock.

About Samsara

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.