Samsara Inc. (NYSE:IOT) Short Interest Update

Samsara Inc. (NYSE:IOT) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 10,900,000 shares, an increase of 7.8% from the January 15th total of 10,110,000 shares. Currently, 4.4% of the shares of the stock are sold short. Based on an average daily volume of 3,120,000 shares, the short-interest ratio is presently 3.5 days.

Insider Buying and Selling at Samsara

In other news, major shareholder Sanjit Biswas sold 83,333 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $53.81, for a total value of $4,484,148.73. Following the transaction, the insider now owns 19,200 shares in the company, valued at $1,033,152. This trade represents a 81.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Adam Eltoukhy sold 12,500 shares of Samsara stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $55.05, for a total value of $688,125.00. Following the completion of the sale, the insider now directly owns 396,784 shares in the company, valued at $21,842,959.20. This represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,543,006 shares of company stock valued at $75,774,307 over the last ninety days. Corporate insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

A number of large investors have recently made changes to their positions in the company. GLOBALT Investments LLC GA increased its position in shares of Samsara by 0.3% in the 4th quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company’s stock valued at $2,444,000 after purchasing an additional 182 shares during the last quarter. Continuum Advisory LLC increased its holdings in Samsara by 39.1% in the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after buying an additional 247 shares during the last quarter. Private Trust Co. NA increased its holdings in Samsara by 19.2% in the third quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock valued at $75,000 after buying an additional 250 shares during the last quarter. Tidal Investments LLC raised its stake in Samsara by 4.6% in the fourth quarter. Tidal Investments LLC now owns 6,403 shares of the company’s stock valued at $280,000 after buying an additional 281 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in 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. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IOT shares. Royal Bank of Canada boosted their price target on shares of Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Piper Sandler boosted their target price on Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Loop Capital increased their price target on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Berenberg Bank started coverage on shares of Samsara in a research note on Monday, February 3rd. They set a “hold” rating and a $57.00 target price on the stock. Finally, Morgan Stanley increased their price target on shares of Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.67.

Samsara Stock Performance

Shares of IOT traded up $1.86 during mid-day trading on Tuesday, hitting $60.82. 4,334,371 shares of the company’s stock were exchanged, compared to its average volume of 2,654,297. Samsara has a fifty-two week low of $27.14 and a fifty-two week high of $61.14. The company has a market cap of $34.13 billion, a price-to-earnings ratio of -129.40 and a beta of 1.61. The stock’s 50-day moving average is $48.07 and its 200-day moving average is $47.34.

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.