Samsara (NYSE:IOT) Price Target Cut to $51.00 by Analysts at Wells Fargo & Company

Samsara (NYSE:IOT) had its target price decreased by equities research analysts at Wells Fargo & Company from $55.00 to $51.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 40.73% from the stock’s current price.

Other analysts also recently issued research reports about the stock. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Loop Capital lifted their price objective on shares of Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Berenberg Bank began coverage on shares of Samsara in a report on Monday, February 3rd. They issued a “hold” rating and a $57.00 target price on the stock. BMO Capital Markets cut their price target on Samsara from $57.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday. Finally, Piper Sandler increased their price objective on Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $50.80.

Samsara Stock Down 13.5 %

NYSE:IOT traded down $5.64 on Friday, hitting $36.24. The stock had a trading volume of 2,782,985 shares, compared to its average volume of 3,202,532. The company has a market cap of $20.34 billion, a PE ratio of -77.82 and a beta of 1.63. Samsara has a 52 week low of $27.14 and a 52 week high of $61.90. The business’s fifty day moving average is $49.21 and its 200 day moving average is $48.29.

Insider Buying and Selling at Samsara

In other news, insider Dominic Phillips sold 20,136 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $50.45, for a total transaction of $1,015,861.20. Following the completion of the transaction, the insider now owns 882,664 shares of the company’s stock, valued at approximately $44,530,398.80. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sanjit Biswas sold 56,474 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $43.33, for a total transaction of $2,447,018.42. Following the completion of the sale, the insider now directly owns 116,257 shares in the company, valued at $5,037,415.81. This represents a 32.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,389,912 shares of company stock valued at $65,081,064 in the last three months. Company insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IOT. NewEdge Advisors LLC boosted its holdings in Samsara by 262.0% during the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after acquiring an additional 414 shares during the period. Jones Financial Companies Lllp bought a new stake in Samsara during the 4th quarter valued at $31,000. Hobbs Group Advisors LLC purchased a new position in Samsara during the 3rd quarter valued at about $34,000. IFP Advisors Inc raised its holdings in shares of Samsara by 290.3% during the fourth quarter. IFP Advisors Inc now owns 804 shares of the company’s stock valued at $35,000 after acquiring an additional 598 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in Samsara in the fourth quarter worth $38,000. 96.02% of the stock is currently owned by institutional investors.

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.