Samsara (NYSE:IOT) Stock Price Up 6.3% – Here’s Why

by · The Cerbat Gem

Shares of Samsara Inc. (NYSE:IOT – Get Free Report) rose 6.3% on Wednesday . The company traded as high as $38.33 and last traded at $38.16. Approximately 1,678,800 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 3,638,616 shares. The stock had previously closed at $35.90.

Analyst Upgrades and Downgrades

IOT has been the subject of a number of recent research reports. Truist Financial dropped their price objective on Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research report on Friday, March 7th. Craig Hallum reiterated a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Piper Sandler upgraded Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price objective for the company in a research report on Monday. Royal Bank of Canada dropped their price objective on Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Finally, Wells Fargo & Company dropped their price objective on Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Nine investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $49.60.

Check Out Our Latest Research Report on IOT

Samsara Trading Up 2.1 %

The firm has a market capitalization of $21.28 billion, a price-to-earnings ratio of -80.67 and a beta of 1.63. The firm has a 50 day moving average price of $48.42 and a two-hundred day moving average price of $48.12.

Insider Activity

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of Samsara stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $34.19, for a total value of $10,015,310.89. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Adam Eltoukhy sold 3,903 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.07, for a total value of $132,975.21. Following the transaction, the insider now directly owns 320,936 shares in the company, valued at $10,934,289.52. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,585,272 shares of company stock valued at $70,167,096 in the last three months. Corporate insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Lansforsakringar Fondforvaltning AB publ acquired a new position in Samsara during the 4th quarter worth approximately $2,062,000. Wealthedge Investment Advisors LLC acquired a new position in Samsara during the 4th quarter worth approximately $398,000. Cim LLC lifted its position in Samsara by 1.3% during the 4th quarter. Cim LLC now owns 31,164 shares of the company’s stock worth $1,362,000 after acquiring an additional 386 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Samsara during the 4th quarter worth approximately $1,100,000. Finally, Windmill Hill Asset Management Ltd increased its holdings in Samsara by 25.0% during the 4th quarter. Windmill Hill Asset Management Ltd now owns 5,974 shares of the company’s stock worth $261,000 after purchasing an additional 1,195 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

About Samsara

(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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