Samsara (NYSE:IOT) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Samsara (NYSE:IOT) from a hold rating to a sell rating in a research report released on Wednesday.

IOT has been the topic of a number of other reports. Loop Capital boosted their price objective on Samsara from $42.00 to $46.00 and gave the company a buy rating in a research note on Friday, September 6th. Evercore ISI upped their target price on shares of Samsara from $40.00 to $42.00 and gave the stock an in-line rating in a report on Friday, September 6th. Wolfe Research reaffirmed an outperform rating and set a $44.00 target price on shares of Samsara in a report on Friday, June 28th. Royal Bank of Canada increased their price target on shares of Samsara from $47.00 to $49.00 and gave the company an outperform rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company raised their target price on shares of Samsara from $42.00 to $46.00 and gave the stock an overweight rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $42.07.

Samsara Stock Up 4.1 %

Samsara stock opened at $47.61 on Wednesday. The company has a market capitalization of $26.22 billion, a P/E ratio of -95.21 and a beta of 1.52. The firm has a 50 day moving average price of $42.58 and a 200-day moving average price of $37.76. Samsara has a twelve month low of $21.48 and a twelve month high of $50.07.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The firm’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.11) EPS. Equities analysts expect that Samsara will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $34.76, for a total value of $3,336,960.00. Following the sale, the chief executive officer now directly owns 1,370,299 shares in the company, valued at approximately $47,631,593.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $34.76, for a total value of $3,336,960.00. Following the completion of the transaction, the chief executive officer now directly owns 1,370,299 shares of the company’s stock, valued at $47,631,593.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Adam Eltoukhy sold 9,471 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $37.79, for a total value of $357,909.09. Following the completion of the sale, the insider now directly owns 465,967 shares of the company’s stock, valued at $17,608,892.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,036,034 shares of company stock valued at $85,086,127 in the last 90 days. 60.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Samsara during the third quarter valued at $526,000. Central Pacific Bank Trust Division boosted its stake in shares of Samsara by 913.3% during the third quarter. Central Pacific Bank Trust Division now owns 14,379 shares of the company’s stock valued at $692,000 after acquiring an additional 12,960 shares during the last quarter. Cim LLC acquired a new stake in shares of Samsara during the second quarter valued at $1,049,000. Nemes Rush Group LLC acquired a new stake in Samsara in the 2nd quarter worth about $45,000. Finally, Creative Planning boosted its stake in Samsara by 16.1% in the 2nd quarter. Creative Planning now owns 147,457 shares of the company’s stock worth $4,969,000 after buying an additional 20,482 shares during the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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.