Samsara (NYSE:IOT) Research Coverage Started at Loop Capital

Loop Capital began coverage on shares of Samsara (NYSE:IOT) in a research note released on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $42.00 price target on the stock.

Separately, StockNews.com raised Samsara from a sell rating to a hold rating in a research note on Tuesday, March 5th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $32.60.

Samsara Stock Performance

NYSE:IOT opened at $30.15 on Thursday. Samsara has a 1 year low of $16.63 and a 1 year high of $40.54. The stock has a market cap of $16.60 billion, a price-to-earnings ratio of -56.89 and a beta of 1.56. The business has a fifty day moving average of $34.74 and a 200-day moving average of $31.23.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). Samsara had a negative return on equity of 22.90% and a negative net margin of 30.59%. The company had revenue of $276.27 million during the quarter, compared to analysts’ expectations of $258.56 million. On average, equities research analysts predict that Samsara will post -0.4 EPS for the current year.

Insider Activity

In other news, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $32.50, for a total transaction of $3,120,000.00. Following the completion of the sale, the chief executive officer now directly owns 754,335 shares of the company’s stock, valued at $24,515,887.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider John Bicket sold 92,190 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $31.93, for a total value of $2,943,626.70. Following the completion of the sale, the insider now directly owns 655,982 shares of the company’s stock, valued at approximately $20,945,505.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $32.50, for a total value of $3,120,000.00. Following the completion of the sale, the chief executive officer now directly owns 754,335 shares of the company’s stock, valued at $24,515,887.50. The disclosure for this sale can be found here. Insiders sold a total of 1,697,460 shares of company stock valued at $58,277,505 over the last three months. Insiders own 66.14% of the company’s stock.

Institutional Investors Weigh In On Samsara

Several hedge funds have recently bought and sold shares of the business. Janney Capital Management LLC lifted its stake in Samsara by 3.1% in the 4th quarter. Janney Capital Management LLC now owns 10,348 shares of the company’s stock worth $345,000 after acquiring an additional 311 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Samsara by 31.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock worth $53,000 after acquiring an additional 381 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Samsara by 13.6% during the 3rd quarter. Rhumbline Advisers now owns 4,594 shares of the company’s stock worth $116,000 after purchasing an additional 550 shares in the last quarter. Ulland Investment Advisors LLC raised its stake in shares of Samsara by 67.4% during the 3rd quarter. Ulland Investment Advisors LLC now owns 1,490 shares of the company’s stock worth $38,000 after purchasing an additional 600 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Samsara by 1.0% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 66,389 shares of the company’s stock worth $2,216,000 after purchasing an additional 644 shares in the last quarter. 89.39% of the stock is owned by hedge funds and other 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.