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

Samsara (NYSE:IOT) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Thursday.

IOT has been the subject of several other research reports. Raymond James began coverage on shares of Samsara in a research report on Wednesday, February 26th. They set a “market perform” rating for the company. Wells Fargo & Company reduced their price objective on shares of Samsara from $51.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. BMO Capital Markets upgraded shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research report on Monday, March 10th. Royal Bank of Canada reduced their price objective on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Finally, Morgan Stanley reduced 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 report on Wednesday, April 16th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.47.

Samsara Trading Down 1.0%

NYSE:IOT opened at $45.67 on Thursday. Samsara has a twelve month low of $27.14 and a twelve month high of $61.90. The company has a 50-day moving average of $40.37 and a 200-day moving average of $45.77. The firm has a market cap of $26.00 billion, a price-to-earnings ratio of -97.17 and a beta of 1.70.

Insider Transactions at Samsara

In other news, insider Sanjit Biswas sold 145,392 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $44.27, for a total value of $6,436,503.84. Following the completion of the sale, the insider now directly owns 120,000 shares of the company’s stock, valued at $5,312,400. This represents a 54.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Chadwick sold 22,500 shares of the 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 completion of the sale, the director now directly owns 373,579 shares of the company’s stock, valued at $14,464,978.88. This trade represents a 5.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,560,678 shares of company stock valued at $63,152,124 over the last three months. 60.04% of the stock is owned by corporate insiders.

Institutional Trading of Samsara

Hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC lifted its position in shares of Samsara by 262.0% in the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after purchasing an additional 414 shares in the last quarter. Keystone Financial Group Inc. raised 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 acquiring an additional 450 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Samsara during the fourth quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Samsara during the first quarter valued at approximately $31,000. Finally, 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 valued at $35,000 after acquiring an additional 598 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.