Samsara (NYSE:IOT) Hits New 52-Week High at $47.79

Samsara Inc. (NYSE:IOT)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $47.79 and last traded at $47.21, with a volume of 751443 shares. The stock had previously closed at $47.44.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Morgan Stanley increased their price objective on Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. TD Cowen increased their price objective on Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company increased their price objective on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $42.07.

Samsara Trading Down 3.0 %

The company has a market cap of $25.35 billion, a P/E ratio of -94.88 and a beta of 1.50. The stock’s 50-day moving average price is $39.21 and its 200-day moving average price is $36.55.

Samsara (NYSE:IOT) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The business’s revenue was up 36.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.11) EPS. On average, research analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Samsara

In related news, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $29.49, for a total value of $2,831,040.00. Following the transaction, the chief executive officer now owns 1,466,299 shares of the company’s stock, valued at approximately $43,241,157.51. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Samsara news, CAO James Andrew Munk sold 1,093 shares of Samsara stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the transaction, the chief accounting officer now owns 319,667 shares of the company’s stock, valued at approximately $15,123,445.77. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total transaction of $2,831,040.00. Following the transaction, the chief executive officer now directly owns 1,466,299 shares in the company, valued at approximately $43,241,157.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,858,859 shares of company stock valued at $73,525,632. 60.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Samsara

Several large investors have recently modified their holdings of IOT. Resources Management Corp CT ADV increased its stake in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares during the last quarter. Quarry LP purchased a new stake in shares of Samsara during the 4th quarter worth approximately $37,000. National Bank of Canada FI purchased a new position in Samsara in the 2nd quarter valued at approximately $38,000. Nemes Rush Group LLC purchased a new position in Samsara in the 2nd quarter valued at approximately $45,000. Finally, Tradition Wealth Management LLC purchased a new position in Samsara in the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.

About Samsara

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.