Short Interest in Samsara Inc. (NYSE:IOT) Decreases By 8.9%

Samsara Inc. (NYSE:IOT) was the recipient of a significant drop in short interest in December. As of December 31st, there was short interest totalling 10,310,000 shares, a drop of 8.9% from the December 15th total of 11,320,000 shares. Based on an average daily volume of 2,960,000 shares, the days-to-cover ratio is presently 3.5 days. Approximately 4.3% of the company’s stock are sold short.

Insider Buying and Selling at Samsara

In other news, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the stock in a transaction dated Tuesday, December 10th. The shares were 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 hyperlink. Also, insider Sanjit Biswas sold 170,416 shares of Samsara stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $45.30, for a total transaction of $7,719,844.80. Following the sale, the insider now directly owns 1,175,569 shares of the company’s stock, valued at $53,253,275.70. The trade was a 12.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,606,542 shares of company stock worth $77,988,715 over the last ninety days. 60.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Samsara

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Samsara by 4.7% during the 3rd quarter. State Street Corp now owns 2,125,584 shares of the company’s stock worth $102,283,000 after buying an additional 95,006 shares during the period. HighTower Advisors LLC grew its stake in shares of Samsara by 193.4% in the third quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock worth $2,981,000 after purchasing an additional 40,833 shares during the last quarter. Swiss National Bank increased its holdings in Samsara by 3.1% in the third quarter. Swiss National Bank now owns 615,600 shares of the company’s stock valued at $29,623,000 after purchasing an additional 18,400 shares during the period. International Assets Investment Management LLC raised its position in Samsara by 2,787.2% during the 3rd quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock worth $521,000 after purchasing an additional 10,452 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Samsara during the 2nd quarter worth about $537,000. Institutional investors own 96.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IOT. Wells Fargo & Company upped their target price on Samsara from $46.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Royal Bank of Canada lifted their target price on Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Loop Capital boosted their target price on shares of Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Craig Hallum began coverage on shares of Samsara in a research note on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price objective for the company. Finally, Morgan Stanley increased their target price on shares of Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $51.29.

Samsara Trading Up 2.0 %

Shares of NYSE IOT opened at $46.75 on Monday. The company has a market cap of $26.24 billion, a price-to-earnings ratio of -99.48 and a beta of 1.59. Samsara has a 12 month low of $27.14 and a 12 month high of $57.51. The stock has a 50-day moving average price of $48.40 and a two-hundred day moving average price of $44.95.

Samsara Company Profile

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.