Samsara (NYSE:IOT) Cut to Sell at StockNews.com

StockNews.com cut shares of Samsara (NYSE:IOT) from a hold rating to a sell rating in a research report report published on Wednesday.

A number of other analysts have also recently commented on the stock. Evercore ISI boosted their target price on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. Craig Hallum initiated coverage on shares of Samsara in a research note on Tuesday, October 22nd. They set a “hold” rating and a $48.00 target price for the company. Bank of America boosted their target price on shares of Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Wells Fargo & Company boosted their target price on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $44.20.

Samsara Price Performance

NYSE IOT opened at $46.21 on Wednesday. The company has a market capitalization of $25.71 billion, a PE ratio of -96.27 and a beta of 1.52. The company has a fifty day moving average of $46.62 and a 200 day moving average of $39.60. Samsara has a 1 year low of $22.19 and a 1 year high of $51.53.

Samsara (NYSE:IOT) last posted its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The firm’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.11) earnings per share. Research analysts expect that Samsara will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sanjit Biswas sold 81,515 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $37.04, for a total transaction of $3,019,315.60. Following the sale, the chief executive officer now directly owns 96,000 shares of the company’s stock, valued at $3,555,840. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Samsara news, CEO Sanjit Biswas sold 81,515 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $37.04, for a total value of $3,019,315.60. Following the sale, the chief executive officer now directly owns 96,000 shares of the company’s stock, valued at approximately $3,555,840. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO James Andrew Munk sold 1,093 shares of the 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 completion of the sale, the chief accounting officer now directly owns 319,667 shares in the company, valued at approximately $15,123,445.77. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,879,269 shares of company stock valued at $83,386,415 in the last ninety days. Company insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

Large investors have recently bought and sold shares of the business. Resources Management Corp CT ADV boosted its stake in 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 period. National Bank of Canada FI acquired a new stake in Samsara during the 2nd quarter worth $38,000. Nemes Rush Group LLC acquired a new stake in Samsara during the 2nd quarter worth $45,000. UMB Bank n.a. boosted its stake in Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after purchasing an additional 418 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Samsara by 250.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds 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.