BMO Capital Markets Issues Positive Forecast for Samsara (NYSE:IOT) Stock Price

Samsara (NYSE:IOT) had its target price upped by BMO Capital Markets from $48.00 to $54.00 in a report issued on Monday morning, Marketbeat reports. They currently have an outperform rating on the stock.

Several other equities analysts have also issued reports on IOT. Morgan Stanley cut their price objective on shares of Samsara from $56.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Royal Bank of Canada cut their price objective on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Piper Sandler reissued an “overweight” rating and set a $53.00 price objective (up from $44.00) on shares of Samsara in a report on Wednesday, May 14th. Cowen reissued a “buy” rating on shares of Samsara in a report on Friday, March 7th. Finally, Craig Hallum reaffirmed a “hold” rating on shares of Samsara in a report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.87.

Samsara Stock Performance

Samsara stock opened at $46.60 on Monday. The company has a 50 day moving average price of $41.00 and a 200-day moving average price of $45.47. Samsara has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The company has a market capitalization of $26.53 billion, a PE ratio of -99.15 and a beta of 1.70.

Insider Activity

In other news, insider Sanjit Biswas sold 94,020 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $42.68, for a total value of $4,012,773.60. Following the transaction, the insider now directly owns 114,000 shares in the company, valued at approximately $4,865,520. This represents a 45.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam Eltoukhy sold 3,903 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.07, for a total transaction of $132,975.21. Following the sale, the insider now owns 320,936 shares in the company, valued at approximately $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 sold a total of 1,296,697 shares of company stock valued at $50,886,971 in the last 90 days. Company insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jennison Associates LLC raised its position in Samsara by 1,881.8% during the first quarter. Jennison Associates LLC now owns 11,763,133 shares of the company’s stock worth $450,881,000 after acquiring an additional 11,169,571 shares during the last quarter. FMR LLC boosted its holdings in shares of Samsara by 24.0% in the 4th quarter. FMR LLC now owns 14,743,175 shares of the company’s stock valued at $644,129,000 after purchasing an additional 2,852,575 shares during the last quarter. Jordan Park Trust Co LLC acquired a new position in shares of Samsara in the 4th quarter valued at $112,041,000. Vanguard Group Inc. lifted its holdings in shares of Samsara by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 23,495,471 shares of the company’s stock valued at $900,581,000 after acquiring an additional 2,516,882 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Samsara during the 4th quarter valued at $106,274,000. 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.