Morgan Stanley Lowers Samsara (NYSE:IOT) Price Target to $50.00

Samsara (NYSE:IOT) had its price target decreased by Morgan Stanley from $56.00 to $50.00 in a research report sent to investors on Wednesday, Marketbeat reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities research analysts have also recently commented on the company. Wells Fargo & Company decreased their price target on Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. BMO Capital Markets raised shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research report on Monday, March 10th. Cowen reissued a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Craig Hallum reaffirmed a “hold” rating on shares of Samsara in a report on Friday, March 7th. Finally, Truist Financial lowered their price objective on shares of Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.07.

Samsara Trading Up 1.1 %

Shares of IOT stock opened at $39.11 on Wednesday. The company has a market cap of $22.27 billion, a PE ratio of -83.21 and a beta of 1.71. Samsara has a 12-month low of $27.14 and a 12-month high of $61.90. The business’s fifty day simple moving average is $43.26 and its 200-day simple moving average is $46.88.

Insider Activity at Samsara

In other news, insider Adam Eltoukhy sold 9,043 shares of Samsara stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $53.88, for a total value of $487,236.84. Following the sale, the insider now owns 331,106 shares in the company, valued at $17,839,991.28. This trade represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the insider now directly owns 1,571,848 shares in the company, valued at $87,630,526. This represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,336,223 shares of company stock worth $56,635,645 in the last three months. Company insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

Large investors have recently modified their holdings of the business. NewEdge Advisors LLC raised its holdings in shares of Samsara by 262.0% during the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after acquiring an additional 414 shares during the period. Jones Financial Companies Lllp purchased a new position in Samsara during the fourth quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Samsara in the 1st quarter valued at about $31,000. IFP Advisors Inc grew its stake in shares of Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock valued at $35,000 after buying an additional 598 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Samsara during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors 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.