Samsara Inc. (NYSE:IOT) Short Interest Update

Samsara Inc. (NYSE:IOT - Get Free Report) saw a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 10,900,000 shares, a growth of 7.8% from the January 15th total of 10,110,000 shares. Based on an average trading volume of 3,120,000 shares, the days-to-cover ratio is currently 3.5 days. Approximately 4.4% of the shares of the company are short sold.

Insiders Place Their Bets

In other news, insider Sanjit Biswas sold 13,086 shares of Samsara stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $55.75, for a total value of $729,544.50. Following the transaction, the insider now owns 1,571,848 shares of the company's stock, valued at $87,630,526. The trade was a 0.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Bicket sold 75,600 shares of Samsara 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 $4,225,284.00. Following the completion of the transaction, the insider now owns 400,020 shares in the company, valued at approximately $22,357,117.80. This trade represents a 15.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,530,506 shares of company stock worth $75,086,182. 60.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Samsara

A number of institutional investors have recently made changes to their positions in the business. GLOBALT Investments LLC GA boosted its stake in Samsara by 0.3% during 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 period. Continuum Advisory LLC boosted its position in shares of 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 acquiring an additional 247 shares during the period. Private Trust Co. NA grew its stake in shares of Samsara by 19.2% in the third quarter. Private Trust Co. NA now owns 1,550 shares of the company's stock worth $75,000 after acquiring an additional 250 shares during the last quarter. Tidal Investments LLC increased its position in Samsara by 4.6% during the fourth quarter. Tidal Investments LLC now owns 6,403 shares of the company's stock worth $280,000 after acquiring an additional 281 shares during the period. Finally, CIBC Asset Management Inc raised its stake in Samsara by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 5,791 shares of the company's stock valued at $253,000 after purchasing an additional 300 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IOT. Piper Sandler lifted their price target on Samsara from $40.00 to $50.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Wells Fargo & Company upped their price target on shares of Samsara from $46.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Royal Bank of Canada upped their target price on Samsara from $49.00 to $64.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. StockNews.com raised Samsara from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Finally, Truist Financial raised their price objective on shares of Samsara from $40.00 to $50.00 and gave the company a "hold" rating in a research report on Monday, November 18th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $51.67.

Samsara Trading Down 3.5 %

IOT traded down $1.92 during trading on Friday, hitting $52.73. The stock had a trading volume of 3,908,879 shares, compared to its average volume of 2,896,595. The firm has a market cap of $29.59 billion, a PE ratio of -112.19 and a beta of 1.61. Samsara has a 12 month low of $27.14 and a 12 month high of $61.90. The company has a 50 day simple moving average of $48.92 and a 200-day simple moving average of $47.77.

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.