Samsara’s (IOT) Market Perform Rating Reiterated at BMO Capital Markets

Samsara (NYSE:IOTGet Free Report)‘s stock had its “market perform” rating reissued by stock analysts at BMO Capital Markets in a research note issued on Tuesday, Benzinga reports. They presently have a $40.00 target price on the stock. BMO Capital Markets’ target price suggests a potential upside of 29.24% from the company’s current price.

Several other research firms have also recently commented on IOT. Loop Capital began coverage on shares of Samsara in a research report on Thursday, April 18th. They set a “buy” rating and a $42.00 target price on the stock. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a report on Saturday, May 25th. Evercore ISI lowered their price target on shares of Samsara from $41.00 to $40.00 and set an “in-line” rating on the stock in a report on Friday. Piper Sandler reaffirmed a “neutral” rating and issued a $36.00 price target (down previously from $41.00) on shares of Samsara in a report on Friday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Samsara in a report on Friday. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $35.64.

View Our Latest Research Report on Samsara

Samsara Stock Performance

Shares of NYSE IOT opened at $30.95 on Tuesday. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $42.28. The stock has a market cap of $17.04 billion, a price-to-earnings ratio of -61.90 and a beta of 1.52. The firm’s 50-day simple moving average is $35.74 and its 200 day simple moving average is $34.45.

Insiders Place Their Bets

In other news, CAO James Andrew Munk sold 4,059 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $36.47, for a total transaction of $148,031.73. Following the sale, the chief accounting officer now owns 303,126 shares in the company, valued at $11,055,005.22. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Samsara news, insider Adam Eltoukhy sold 10,737 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $36.47, for a total value of $391,578.39. Following the transaction, the insider now directly owns 535,149 shares in the company, valued at $19,516,884.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO James Andrew Munk sold 4,059 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $36.47, for a total transaction of $148,031.73. Following the completion of the transaction, the chief accounting officer now owns 303,126 shares in the company, valued at $11,055,005.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,604,483 shares of company stock worth $58,215,522. 60.04% of the stock is currently owned by company insiders.

Institutional Trading of Samsara

A number of hedge funds and other institutional investors have recently modified their holdings of IOT. Baillie Gifford & Co. lifted its holdings in shares of Samsara by 3.7% in the 1st quarter. Baillie Gifford & Co. now owns 23,225,238 shares of the company’s stock worth $877,682,000 after acquiring an additional 827,848 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 worth $666,584,000 after purchasing an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. grew its position in Samsara by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after purchasing an additional 1,841,149 shares during the last quarter. 1832 Asset Management L.P. grew its position in Samsara by 102.1% during the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after purchasing an additional 3,853,400 shares during the last quarter. Finally, FMR LLC grew its position in Samsara by 11.8% during the 3rd quarter. FMR LLC now owns 6,959,343 shares of the company’s stock worth $175,445,000 after purchasing an additional 731,963 shares during the last quarter. 89.39% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Samsara (NYSE:IOT)

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