Samsara (NYSE:IOT) Given New $44.00 Price Target at Piper Sandler

Samsara (NYSE:IOT) had its price objective decreased by equities researchers at Piper Sandler from $50.00 to $44.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 11.42% from the company’s previous close.

Several other research analysts also recently commented on IOT. Craig Hallum reissued a “hold” rating on shares of Samsara in a report on Friday, March 7th. Cowen reissued a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Berenberg Bank initiated coverage on shares of Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 target price on the stock. Truist Financial reduced their target price on shares of Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday, March 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.20.

Samsara Stock Performance

Shares of Samsara stock opened at $39.49 on Tuesday. The company has a fifty day moving average of $44.79 and a 200 day moving average of $47.25. 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 $22.48 billion, a P/E ratio of -84.02 and a beta of 1.71.

Insiders Place Their Bets

In other Samsara news, insider Sanjit Biswas sold 13,086 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $55.75, for a total transaction of $729,544.50. Following the sale, the insider now directly owns 1,571,848 shares of the company’s stock, valued at $87,630,526. This trade represents a 0.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan Chadwick sold 22,500 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $38.72, for a total transaction of $871,200.00. Following the completion of the sale, the director now directly owns 373,579 shares in the company, valued at $14,464,978.88. This represents a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,484,276 shares of company stock worth $64,741,770. 60.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Samsara

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Samsara by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company’s stock worth $916,555,000 after purchasing an additional 863,197 shares in the last quarter. FMR LLC raised its holdings in shares of Samsara by 24.0% during the fourth quarter. FMR LLC now owns 14,743,175 shares of the company’s stock worth $644,129,000 after purchasing an additional 2,852,575 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Samsara by 107.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock worth $181,045,000 after purchasing an additional 2,148,081 shares during the period. Invesco Ltd. raised its holdings in shares of Samsara by 13.7% during the fourth quarter. Invesco Ltd. now owns 3,476,945 shares of the company’s stock worth $151,908,000 after purchasing an additional 419,163 shares during the period. Finally, Amundi grew its position in shares of Samsara by 22.2% during the fourth quarter. Amundi now owns 3,013,265 shares of the company’s stock worth $133,126,000 after acquiring an additional 547,390 shares during the last quarter. 96.02% of the stock is currently 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.