Loop Capital Reiterates “Buy” Rating for Samsara (NYSE:IOT)

Samsara (NYSE:IOT)‘s stock had its “buy” rating reiterated by investment analysts at Loop Capital in a research note issued on Friday, Benzinga reports. They currently have a $42.00 price target on the stock. Loop Capital’s price target would suggest a potential upside of 24.63% from the stock’s previous close.

IOT has been the subject of a number of other research reports. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Saturday, May 25th. Bank of America began coverage on Samsara in a report on Thursday, June 20th. They issued a “buy” rating and a $37.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of Samsara in a report on Wednesday. Evercore ISI dropped their price objective on Samsara from $41.00 to $40.00 and set an “in-line” rating for the company in a report on Friday, June 7th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $36.00 price objective (down previously from $41.00) on shares of Samsara in a report on Friday, June 7th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.17.

Samsara Stock Up 3.3 %

IOT stock opened at $33.70 on Friday. The company has a market cap of $18.56 billion, a P/E ratio of -67.40 and a beta of 1.51. Samsara has a twelve month low of $21.48 and a twelve month high of $42.28. The business has a fifty day moving average of $35.02 and a 200-day moving average of $34.27.

Insider Buying and Selling at Samsara

In other Samsara news, CEO Sanjit Biswas sold 35,320 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $40.90, for a total value of $1,444,588.00. Following the completion of the transaction, the chief executive officer now directly owns 1,645,392 shares of the company’s stock, valued at $67,296,532.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Sanjit Biswas sold 35,320 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $40.90, for a total transaction of $1,444,588.00. Following the completion of the transaction, the chief executive officer now directly owns 1,645,392 shares of the company’s stock, valued at $67,296,532.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marc L. Andreessen sold 277,484 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.88, for a total value of $8,013,737.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,707,743 shares of company stock valued at $58,180,086. Company insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Baillie Gifford & Co. boosted its position in Samsara by 3.7% during the first quarter. Baillie Gifford & Co. now owns 23,225,238 shares of the company’s stock valued at $877,682,000 after purchasing an additional 827,848 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Samsara by 18.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock valued at $666,584,000 after purchasing an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. boosted its position in Samsara by 12.1% during the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after purchasing an additional 1,841,149 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Samsara by 102.1% during the first quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock valued at $288,266,000 after purchasing an additional 3,853,400 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in Samsara by 12.2% during the first quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock valued at $84,225,000 after purchasing an additional 243,170 shares during the last quarter. 89.39% of the stock is owned by institutional investors and hedge funds.

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.