Samsara Inc. (NYSE:IOT) Short Interest Update

Samsara Inc. (NYSE:IOT - Get Free Report) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 13,060,000 shares, a decrease of 5.8% from the October 15th total of 13,870,000 shares. Currently, 6.4% of the shares of the stock are short sold. Based on an average daily volume of 3,250,000 shares, the days-to-cover ratio is currently 4.0 days.

Analyst Upgrades and Downgrades

IOT has been the topic of several recent analyst reports. BNP Paribas initiated coverage on shares of Samsara in a research note on Tuesday, October 8th. They issued a "neutral" rating and a $46.00 target price for the company. Morgan Stanley upped their price objective on shares of Samsara from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, September 6th. BMO Capital Markets upped their price target on Samsara from $40.00 to $44.00 and gave the stock a "market perform" rating in a report on Friday, September 6th. JPMorgan Chase & Co. increased their target price on Samsara from $37.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday, September 6th. Finally, TD Cowen boosted their price target on Samsara from $46.00 to $56.00 and gave the company a "buy" rating in a report on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $44.87.

Samsara Trading Down 0.0 %

Shares of IOT traded down $0.02 during midday trading on Monday, reaching $49.49. The stock had a trading volume of 1,873,546 shares, compared to its average volume of 3,551,275. The firm has a 50 day simple moving average of $48.61 and a 200-day simple moving average of $40.93. The firm has a market cap of $27.53 billion, a PE ratio of -103.90 and a beta of 1.52. Samsara has a one year low of $25.76 and a one year high of $53.98.

Samsara (NYSE:IOT - Get Free Report) last announced its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.04. The business had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. Samsara's quarterly revenue was up 36.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.11) earnings per share. As a group, research analysts forecast that Samsara will post -0.34 EPS for the current fiscal year.

Insider Activity

In other news, insider John Bicket sold 78,128 shares of Samsara stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.51, for a total transaction of $3,164,965.28. Following the transaction, the insider now owns 1,273,912 shares in the company, valued at approximately $51,606,175.12. The trade was a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjit Biswas sold 78,295 shares of the firm's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.50, for a total value of $3,170,947.50. Following the completion of the sale, the chief executive officer now directly owns 908,004 shares in the company, valued at $36,774,162. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,864,730 shares of company stock worth $84,375,885 over the last ninety days. 60.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Samsara

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Continuum Advisory LLC boosted its stake in shares of Samsara by 39.1% in the third quarter. Continuum Advisory LLC now owns 879 shares of the company's stock worth $45,000 after acquiring an additional 247 shares during the period. Private Trust Co. NA raised its holdings in shares of Samsara by 19.2% during the third quarter. Private Trust Co. NA now owns 1,550 shares of the company's stock valued at $75,000 after acquiring an additional 250 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Samsara by 9.4% during the 1st quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company's stock worth $123,000 after buying an additional 280 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Samsara by 3.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company's stock worth $433,000 after purchasing an additional 304 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Samsara by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 7,959 shares of the company's stock valued at $383,000 after acquiring an additional 388 shares during the period. Institutional investors own 89.39% of the company's stock.

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.