Samsara (NYSE:IOT) Trading 6.8% Higher

Samsara Inc. (NYSE:IOT)’s stock price traded up 6.8% on Tuesday . The stock traded as high as $33.58 and last traded at $33.48. 1,890,320 shares changed hands during trading, a decline of 48% from the average session volume of 3,630,036 shares. The stock had previously closed at $31.35.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IOT shares. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Loop Capital initiated coverage on shares of Samsara in a research note on Thursday, April 18th. They set a “buy” rating and a $42.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.60.

Samsara Stock Performance

The company’s 50 day simple moving average is $34.68 and its two-hundred day simple moving average is $31.42. The stock has a market cap of $18.93 billion, a price-to-earnings ratio of -64.89 and a beta of 1.56.

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, meeting analysts’ consensus estimates of ($0.08). The company had revenue of $276.27 million during the quarter, compared to analysts’ expectations of $258.56 million. Samsara had a negative net margin of 30.59% and a negative return on equity of 22.90%. On average, equities research analysts predict that Samsara Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at Samsara

In other news, CAO James Andrew Munk sold 4,059 shares of Samsara stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $36.47, for a total transaction of $148,031.73. Following the sale, the chief accounting officer now owns 303,126 shares of the company’s stock, valued at approximately $11,055,005.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Adam Eltoukhy sold 9,344 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $34.75, for a total value of $324,704.00. Following the sale, the insider now owns 431,439 shares of the company’s stock, valued at approximately $14,992,505.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO James Andrew Munk sold 4,059 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $36.47, for a total value of $148,031.73. Following the completion of the sale, the chief accounting officer now directly owns 303,126 shares in the company, valued at approximately $11,055,005.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,697,460 shares of company stock valued at $58,340,865. 66.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Samsara

Several institutional investors have recently bought and sold shares of the business. Janney Capital Management LLC raised its position in shares of Samsara by 3.1% during the fourth quarter. Janney Capital Management LLC now owns 10,348 shares of the company’s stock worth $345,000 after acquiring an additional 311 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Samsara by 31.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock worth $53,000 after acquiring an additional 381 shares during the last quarter. Ulland Investment Advisors LLC raised its position in shares of Samsara by 33.6% during the first quarter. Ulland Investment Advisors LLC now owns 1,990 shares of the company’s stock worth $75,000 after acquiring an additional 500 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Samsara by 1.0% during the fourth 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 acquiring an additional 644 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Samsara by 1.8% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 46,181 shares of the company’s stock worth $1,164,000 after acquiring an additional 807 shares during the last quarter. 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.