Samsara (NYSE:IOT) Stock Price Up 3.9%

Samsara Inc. (NYSE:IOT) rose 3.9% on Wednesday . The company traded as high as $31.47 and last traded at $31.01. Approximately 1,148,654 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 3,851,300 shares. The stock had previously closed at $29.84.

Analysts Set New Price Targets

A number of brokerages have commented on IOT. Evercore ISI cut their price target on shares of Samsara from $41.00 to $40.00 and set an “in-line” rating on the stock in a research report on Friday, June 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 price target on shares of Samsara in a research report on Wednesday. BMO Capital Markets reaffirmed a “market perform” rating and set a $40.00 price target on shares of Samsara in a research report on Tuesday, June 11th. Loop Capital began coverage on shares of Samsara in a research report on Thursday, April 18th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $36.00 price target (down previously from $41.00) on shares of Samsara in a research report on Friday, June 7th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Samsara currently has an average rating of “Moderate Buy” and an average price target of $36.55.

Samsara Price Performance

The company’s 50-day moving average is $34.91 and its two-hundred day moving average is $34.30.

Insider Activity at Samsara

In other Samsara news, insider Dominic Phillips sold 21,690 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $36.49, for a total value of $791,468.10. Following the completion of the sale, the insider now owns 1,137,252 shares in the company, valued at approximately $41,498,325.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Samsara news, insider Dominic Phillips sold 21,690 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $36.49, for a total value of $791,468.10. Following the completion of the sale, the insider now owns 1,137,252 shares in the company, valued at approximately $41,498,325.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO James Andrew Munk sold 1,105 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $30.01, for a total transaction of $33,161.05. Following the completion of the sale, the chief accounting officer now owns 337,523 shares of the company’s stock, valued at approximately $10,129,065.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,611,743 shares of company stock valued at $55,349,046. 60.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Samsara

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fred Alger Management LLC purchased a new stake in shares of Samsara during the 3rd quarter worth approximately $28,000. Quarry LP purchased a new stake in shares of Samsara during the 4th quarter worth approximately $37,000. Montag A & Associates Inc. increased its stake in shares of Samsara by 1,200.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock worth $43,000 after purchasing an additional 1,200 shares during the last quarter. Tradition Wealth Management LLC purchased a new stake in shares of Samsara during the 4th quarter worth approximately $46,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Samsara by 31.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock worth $53,000 after purchasing an additional 381 shares during the last quarter. Hedge funds and other institutional investors own 89.39% 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.