Samsara (NYSE:IOT) Lowered to “Sell” at StockNews.com

by · The Markets Daily

StockNews.com downgraded shares of Samsara (NYSE:IOT – Free Report) from a hold rating to a sell rating in a research note published on Wednesday morning.

A number of other analysts have also recently issued reports on IOT. TD Cowen boosted their target price on Samsara from $45.00 to $46.00 and gave the stock a buy rating in a report on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective on shares of Samsara from $37.00 to $40.00 and gave the stock a neutral rating in a research note on Friday, September 6th. BMO Capital Markets increased their price objective on shares of Samsara from $40.00 to $44.00 and gave the stock a market perform rating in a research report on Friday, September 6th. Morgan Stanley lifted their target price on shares of Samsara from $38.00 to $40.00 and gave the company an equal weight rating in a report on Friday, September 6th. Finally, Wells Fargo & Company increased their price target on Samsara from $42.00 to $46.00 and gave the company an overweight rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $42.07.

Read Our Latest Research Report on IOT

Samsara Stock Up 4.1 %

NYSE:IOT opened at $47.60 on Wednesday. The company has a market cap of $26.22 billion, a P/E ratio of -95.20 and a beta of 1.52. The firm’s 50 day moving average is $42.58 and its two-hundred day moving average is $37.76. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $50.07.

Samsara (NYSE:IOT – Get Free Report) last issued its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The business had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. During the same period last year, the company posted ($0.11) EPS. The business’s quarterly revenue was up 36.9% on a year-over-year basis. Research analysts forecast that Samsara will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Samsara

In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $34.76, for a total transaction of $3,336,960.00. Following the sale, the chief executive officer now directly owns 1,370,299 shares in the company, valued at $47,631,593.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $34.76, for a total transaction of $3,336,960.00. Following the completion of the transaction, the chief executive officer now directly owns 1,370,299 shares of the company’s stock, valued at $47,631,593.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam Eltoukhy sold 8,500 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $50.01, for a total transaction of $425,085.00. Following the completion of the sale, the insider now owns 396,784 shares in the company, valued at approximately $19,843,167.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,036,034 shares of company stock valued at $85,086,127. Insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. lifted its stake in Samsara by 18.1% during the second quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after purchasing an additional 4,207,974 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Samsara by 102.1% in the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock valued at $288,266,000 after buying an additional 3,853,400 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Samsara by 18.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock valued at $666,584,000 after buying an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. raised its stake in Samsara by 12.1% during the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after acquiring an additional 1,841,149 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Samsara in the second quarter worth about $29,464,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

Samsara Company Profile

(Get Free Report)

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.

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