Truist Financial Issues Pessimistic Forecast for Samsara (NYSE:IOT) Stock Price

Samsara (NYSE:IOT) had its price target cut by equities research analysts at Truist Financial from $50.00 to $42.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price points to a potential upside of 21.21% from the company’s current price.

Several other research firms also recently commented on IOT. BMO Capital Markets decreased their price target on shares of Samsara from $57.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday. JPMorgan Chase & Co. increased their target price on shares of Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Raymond James initiated coverage on shares of Samsara in a report on Wednesday, February 26th. They set a “market perform” rating on the stock. Loop Capital boosted their price target on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company lowered their price objective on Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Samsara currently has an average rating of “Hold” and an average target price of $50.27.

Samsara Price Performance

IOT traded down $7.23 during trading on Friday, hitting $34.65. The stock had a trading volume of 4,834,742 shares, compared to its average volume of 3,260,008. The company has a 50 day moving average price of $49.21 and a 200-day moving average price of $48.29. Samsara has a one year low of $27.14 and a one year high of $61.90. The firm has a market cap of $19.45 billion, a price-to-earnings ratio of -73.54 and a beta of 1.63.

Insiders Place Their Bets

In related news, insider Adam Eltoukhy sold 23,960 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $43.81, for a total transaction of $1,049,687.60. Following the sale, the insider now owns 331,106 shares in the company, valued at $14,505,753.86. The trade was a 6.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sanjit Biswas sold 56,474 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $43.33, for a total value of $2,447,018.42. Following the completion of the transaction, the insider now owns 116,257 shares of the company’s stock, 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. Over the last 90 days, insiders sold 1,389,912 shares of company stock valued at $65,081,064. 60.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cim LLC grew its holdings in Samsara by 1.3% during the 4th quarter. Cim LLC now owns 31,164 shares of the company’s stock worth $1,362,000 after acquiring an additional 386 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Samsara in the fourth quarter worth $1,100,000. Windmill Hill Asset Management Ltd increased its holdings in Samsara by 25.0% in the fourth quarter. Windmill Hill Asset Management Ltd now owns 5,974 shares of the company’s stock valued at $261,000 after purchasing an additional 1,195 shares during the period. Toronto Dominion Bank raised its position in Samsara by 10.9% during the 4th quarter. Toronto Dominion Bank now owns 29,435 shares of the company’s stock worth $1,286,000 after purchasing an additional 2,899 shares during the last quarter. Finally, Cache Advisors LLC bought a new position in Samsara during the 4th quarter worth $227,000. Institutional investors and hedge funds own 96.02% 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.