Samsara Inc. (NYSE:IOT) Short Interest Update

Samsara Inc. (NYSE:IOT) was the target of a large increase in short interest during the month of 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. Approximately 4.4% of the company’s shares are sold short. Based on an average daily trading volume, of 3,120,000 shares, the days-to-cover ratio is currently 3.5 days.

Samsara Stock Up 3.2 %

Samsara stock traded up $1.86 during midday trading on Tuesday, reaching $60.82. The stock had a trading volume of 4,334,371 shares, compared to its average volume of 2,654,297. The firm has a market capitalization of $34.13 billion, a PE ratio of -129.40 and a beta of 1.61. Samsara has a 12 month low of $27.14 and a 12 month high of $61.14. The firm’s 50-day moving average price is $48.37 and its 200 day moving average price is $47.52.

Insider Activity at Samsara

In other news, insider Dominic Phillips sold 20,801 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $50.97, for a total transaction of $1,060,226.97. Following the completion of the sale, the insider now owns 755,001 shares of the company’s stock, valued at $38,482,400.97. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sanjit Biswas sold 75,594 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $55.89, for a total transaction of $4,224,948.66. Following the sale, the chief executive officer now directly owns 120,292 shares of the company’s stock, valued at approximately $6,723,119.88. This trade represents a 38.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,543,006 shares of company stock worth $75,774,307 in the last quarter. 60.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Fourth Dimension Wealth LLC purchased a new position in Samsara during the 4th quarter valued at about $38,000. Continuum Advisory LLC grew its holdings in Samsara by 32.1% during the 4th quarter. Continuum Advisory LLC now owns 1,161 shares of the company’s stock valued at $51,000 after buying an additional 282 shares in the last quarter. Woodline Partners LP purchased a new position in Samsara during the 4th quarter valued at about $3,777,000. Vident Advisory LLC grew its holdings in Samsara by 33.6% during the 4th quarter. Vident Advisory LLC now owns 8,591 shares of the company’s stock valued at $375,000 after buying an additional 2,162 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in Samsara by 90.3% during the 4th quarter. Two Sigma Advisers LP now owns 1,307,400 shares of the company’s stock valued at $57,120,000 after buying an additional 620,300 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

IOT has been the subject of several research reports. Wells Fargo & Company lifted their price target on shares of Samsara from $46.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Loop Capital lifted their price objective on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. lifted their target price on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Morgan Stanley lifted their target price on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $51.67.

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.