Samsara (NYSE:IOT) Shares Up 7.6% – Here’s Why

Samsara Inc. (NYSE:IOT) shares were up 7.6% on Monday . The company traded as high as $40.78 and last traded at $41.2910. Approximately 2,219,241 shares traded hands during trading, a decline of 68% from the average daily volume of 6,986,319 shares. The stock had previously closed at $38.38.

Wall Street Analyst Weigh In

IOT has been the topic of several recent research reports. Piper Sandler reiterated a “neutral” rating and set a $46.00 target price (up from $40.00) on shares of Samsara in a research report on Friday, September 4th. Craig Hallum reissued a “buy” rating and issued a $54.00 price target on shares of Samsara in a research report on Friday, September 4th. Truist Financial raised their price target on shares of Samsara from $38.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday, September 4th. KeyCorp upped their price objective on Samsara from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, September 4th. Finally, TD Cowen increased their target price on Samsara from $48.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, September 4th. Fifteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.44.

Samsara Stock Up 10.1%

The firm has a fifty day moving average of $38.27 and a 200-day moving average of $33.71. The firm has a market cap of $24.62 billion, a P/E ratio of 264.03, a PEG ratio of 9.45 and a beta of 1.35.

Samsara (NYSE:IOT) last released its earnings results on Thursday, September 3rd. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $508.44 million during the quarter, compared to analyst estimates of $483.29 million. Samsara had a net margin of 4.90% and a return on equity of 4.13%. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 EPS. Samsara has set its FY 2027 guidance at 0.760-0.780 EPS and its Q3 2027 guidance at 0.180-1.090 EPS. Sell-side analysts anticipate that Samsara Inc. will post 0.13 EPS for the current year.

Insider Transactions at Samsara

In related news, insider Dominic Phillips sold 11,710 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $44.25, for a total transaction of $518,167.50. Following the sale, the insider owned 836,100 shares in the company, valued at approximately $36,997,425. This represents a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjit Biswas sold 35,366 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $39.43, for a total value of $1,394,481.38. Following the completion of the sale, the chief executive officer directly owned 935,671 shares of the company’s stock, valued at approximately $36,893,507.53. The trade was a 3.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,219,206 shares of company stock worth $83,821,258 in the last 90 days. 35.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its position in shares of Samsara by 3,119.1% in the second quarter. California State Teachers Retirement System now owns 15,704,422 shares of the company’s stock valued at $484,256,000 after acquiring an additional 15,216,568 shares during the period. Goldman Sachs Group Inc. increased its position in Samsara by 58.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 11,878,112 shares of the company’s stock worth $421,079,000 after acquiring an additional 4,401,082 shares during the period. Norges Bank acquired a new stake in Samsara in the 4th quarter worth about $127,415,000. Brown Advisory Inc. raised its stake in Samsara by 42.1% in the 4th quarter. Brown Advisory Inc. now owns 11,213,972 shares of the company’s stock worth $397,536,000 after purchasing an additional 3,322,023 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Samsara by 97.1% in the 4th quarter. Wellington Management Group LLP now owns 6,269,398 shares of the company’s stock valued at $222,250,000 after purchasing an additional 3,088,299 shares during the period. 96.02% of the stock is owned by institutional investors.

About Samsara

Samsara, Inc is a technology company that provides a cloud-based Connected Operations Platform for organizations that rely on physical operations. Its platform helps businesses monitor vehicles, equipment, worksites and employees, while using connected devices, software and data analytics to improve safety, efficiency and productivity.

The company’s products and services include vehicle telematics, GPS tracking, electronic logging and fleet management tools; video-based safety and security systems; equipment and asset monitoring; workforce and workflow management applications; and tools for dispatching, routing, maintenance and site visibility.