Samsara Inc (NYSE: IOT) stock jumped 1.04% on Monday to $27.16 against a previous-day closing price of $26.88. With 1.69 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.95 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $27.35 whereas the lowest price it dropped to was $26.62. The 52-week range on IOT shows that it touched its highest point at $32.41 and its lowest point at $8.86 during that stretch. It currently has a 1-year price target of $29.83. Beta for the stock currently stands at 1.48.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IOT was up-trending over the past week, with a rise of 15.23%, but this was up by 19.02% over a month. Three-month performance surged to 13.50% while six-month performance rose 34.12%. The stock gained 185.59% in the past year, while it has gained 118.50% so far this year. A look at the trailing 12-month EPS for IOT yields -0.46 with Next year EPS estimates of 0.08. For the next quarter, that number is 0.01. This implies an EPS growth rate of 113.08% for this year and 372.71% for next year.
Float and Shares Shorts:
At present, 534.92 million IOT shares are outstanding with a float of 156.40 million shares on hand for trading. On Oct 30, 2023, short shares totaled 16.13 million, which was 3.02% higher than short shares on Sep 28, 2023. In addition to Mr. Sanjit Biswas as the firm’s Co-Founder, CEO & Chairman, Mr. John Bicket serves as its Co-Founder, Executive VP, CTO & Director.
Institutional Ownership:
Through their ownership of 74.08% of IOT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 41.83% of IOT, in contrast to 34.62% held by mutual funds. Shares owned by individuals account for 11.11%. As the largest shareholder in IOT with 12.60% of the stake, Baillie Gifford & Co. holds 22,586,188 shares worth 22,586,188. A second-largest stockholder of IOT, Morgan Stanley Investment Managem, holds 15,328,114 shares, controlling over 8.55% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in IOT, holding 14,285,721 shares or 7.97% stake. With a 4.48% stake in IOT, the T Rowe Price New Horizons Fund is the largest stakeholder. A total of 8,025,995 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.49% of IOT stock, is the second-largest Mutual Fund holder. It holds 4,462,591 shares valued at 102.95 million. Vanguard Small Cap Index Fund holds 2.06% of the stake in IOT, owning 3,688,330 shares worth 85.09 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IOT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With IOT analysts setting a high price target of $34.00 and a low target of $25.00, the average target price over the next 12 months is $29.83. Based on these targets, IOT could surge 25.18% to reach the target high and fall by -7.95% to reach the target low. Reaching the average price target will result in a growth of 9.83% from current levels.
Summary of Insider Activity:
Insiders traded IOT stock several times over the past three months with 18 Buys and 81 Sells. In these transactions, 10,853,287 shares were bought while 11,581,706 shares were sold. The number of buy transactions has increased to 152 while that of sell transactions has risen to 296 over the past year. The total number of shares bought during that period was 56,322,561 while 31,169,651 shares were sold.
