Samsara (NYSE:IOT) Sets New 12-Month High – Here’s Why

Shares of Samsara Inc. (NYSE:IOT) hit a new 52-week high during trading on Friday . The company traded as high as $57.69 and last traded at $57.88, with a volume of 1163285 shares traded. The stock had previously closed at $56.37.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. BMO Capital Markets lifted their price objective on Samsara from $44.00 to $57.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Truist Financial lifted their price objective on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Morgan Stanley boosted their target price on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Royal Bank of Canada boosted their target price on Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Piper Sandler boosted their target price on Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Samsara has an average rating of “Hold” and a consensus target price of $51.67.

Samsara Stock Performance

The business has a fifty day moving average of $47.89 and a two-hundred day moving average of $47.12.

Insider Buying and Selling

In other Samsara news, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $45.92, for a total value of $5,160,489.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sanjit Biswas sold 75,594 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $55.89, for a total value of $4,224,948.66. Following the completion of the transaction, the chief executive officer now directly owns 120,292 shares in the company, valued at approximately $6,723,119.88. This represents a 38.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,639,006 shares of company stock valued at $80,609,827. 60.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GLOBALT Investments LLC GA lifted its position in shares of Samsara by 0.3% during the 4th quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company’s stock valued at $2,444,000 after acquiring an additional 182 shares during the period. Continuum Advisory LLC lifted its position in shares of Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after acquiring an additional 247 shares during the period. Private Trust Co. NA lifted its position in shares of Samsara by 19.2% during the 3rd quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock worth $75,000 after buying an additional 250 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Samsara by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 5,791 shares of the company’s stock worth $253,000 after buying an additional 300 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Samsara by 3.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock worth $433,000 after buying an additional 304 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

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.