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

Samsara Inc. (NYSE:IOT - Get Free Report) was the recipient of a large drop in short interest during the month of 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. Approximately 4.3% of the shares of the company are short sold. Based on an average daily volume of 2,960,000 shares, the days-to-cover ratio is currently 3.5 days.

Wall Street Analyst Weigh In

IOT has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Samsara from $40.00 to $52.00 and gave the company an "equal weight" rating in a report on Wednesday, November 20th. Wells Fargo & Company lifted their target price 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. Loop Capital upped their price target on shares of Samsara from $46.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. StockNews.com upgraded Samsara from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Finally, Craig Hallum initiated coverage on Samsara in a report on Tuesday, October 22nd. They set a "hold" rating and a $48.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $51.29.

Samsara Stock Performance

Shares of NYSE IOT traded up $0.93 during trading on Friday, hitting $46.75. 2,292,458 shares of the company were exchanged, compared to its average volume of 2,715,515. The company has a fifty day moving average price of $48.40 and a 200-day moving average price of $44.88. The firm has a market capitalization of $26.24 billion, a PE 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.

Insider Activity at Samsara

In related news, CEO Sanjit Biswas sold 42,994 shares of the business's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $48.55, for a total transaction of $2,087,358.70. Following the completion of the transaction, the chief executive officer now directly owns 440,892 shares in the company, valued at $21,405,306.60. The trade was a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Bicket sold 42,942 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $48.55, for a total value of $2,084,834.10. Following the sale, the insider now directly owns 720,678 shares in the company, valued at $34,988,916.90. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,606,542 shares of company stock valued at $77,988,715 in the last three months. 60.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Samsara

A number of institutional investors have recently bought and sold shares of IOT. Resources Management Corp CT ADV increased its position in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company's stock worth $32,000 after purchasing an additional 490 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Samsara during the third quarter valued at about $34,000. Nemes Rush Group LLC purchased a new stake in shares of Samsara in the 2nd quarter valued at approximately $45,000. Continuum Advisory LLC lifted its holdings in shares of Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company's stock worth $45,000 after acquiring an additional 247 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company's stock worth $49,000 after purchasing an additional 418 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

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.