Samsara (NYSE:IOT) Sets New 52-Week High at $21.45

Samsara Inc. (NYSE:IOT – Get Rating)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $21.45 and last traded at $21.12, with a volume of 228717 shares traded. The stock had previously closed at $21.10.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Samsara from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, March 3rd. StockNews.com upgraded shares of Samsara to a “sell” rating in a research report on Thursday, February 9th. Royal Bank of Canada upped their price target on shares of Samsara from $15.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, February 27th. Wells Fargo & Company lifted their price objective on Samsara from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, March 3rd. Finally, JPMorgan Chase & Co. upped their target price on Samsara from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, March 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Samsara Trading Down 4.4 %

The stock has a 50-day moving average price of $14.79 and a 200 day moving average price of $12.92. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of -40.33 and a beta of 0.92.

Samsara (NYSE:IOT – Get Rating) last posted its quarterly earnings data on Thursday, March 2nd. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.11. Samsara had a negative return on equity of 21.12% and a negative net margin of 37.92%. The business had revenue of $186.58 million during the quarter, compared to analysts’ expectations of $172.77 million. Equities research analysts anticipate that Samsara Inc. will post -0.4 earnings per share for the current year.

Insider Activity

In related news, insider Kiren Sekar sold 78,590 shares of Samsara stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $12.34, for a total value of $969,800.60. Following the sale, the insider now directly owns 410,168 shares in the company, valued at approximately $5,061,473.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Kiren Sekar sold 78,590 shares of the stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $12.34, for a total value of $969,800.60. Following the completion of the transaction, the insider now directly owns 410,168 shares of the company’s stock, valued at approximately $5,061,473.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Adam Eltoukhy sold 10,000 shares of the firm’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the transaction, the insider now owns 911,402 shares in the company, valued at approximately $18,228,040. The disclosure for this sale can be found here. Insiders have sold a total of 1,854,864 shares of company stock worth $28,343,220 over the last 90 days. 81.12% of the stock is currently owned by company insiders.

Institutional Trading of Samsara

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Samsara by 84.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,636,709 shares of the company’s stock worth $92,175,000 after purchasing an additional 3,495,366 shares in the last quarter. Morgan Stanley lifted its position in Samsara by 4.6% during the fourth quarter. Morgan Stanley now owns 7,326,909 shares of the company’s stock worth $91,073,000 after buying an additional 320,468 shares in the last quarter. PointState Capital LP boosted its stake in Samsara by 18.1% during the third quarter. PointState Capital LP now owns 5,279,098 shares of the company’s stock worth $63,719,000 after buying an additional 809,646 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Samsara by 5.1% in the 3rd quarter. Alliancebernstein L.P. now owns 4,951,544 shares of the company’s stock valued at $59,765,000 after buying an additional 239,226 shares in the last quarter. Finally, Abdiel Capital Advisors LP grew its holdings in Samsara by 0.8% in the 4th quarter. Abdiel Capital Advisors LP now owns 3,354,802 shares of the company’s stock valued at $41,700,000 after buying an additional 27,900 shares in the last quarter. Hedge funds and other institutional investors own 43.05% of the company’s stock.

Samsara Company Profile

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Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.