Samsara Inc. (NYSE:IOT) Short Interest Update

Samsara Inc. (NYSE:IOT - Get Free Report) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 14,570,000 shares, an increase of 31.5% from the March 15th total of 11,080,000 shares. Based on an average daily trading volume, of 4,500,000 shares, the short-interest ratio is currently 3.2 days. Approximately 5.2% of the company's stock are sold short.

Insider Activity

In other Samsara news, insider John Bicket sold 107,152 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $51.13, for a total transaction of $5,478,681.76. Following the completion of the sale, the insider now directly owns 138,000 shares in the company, valued at approximately $7,055,940. This trade represents a 43.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sanjit Biswas sold 160,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $34.97, for a total transaction of $5,595,200.00. Following the sale, the insider now directly owns 102,000 shares of the company's stock, valued at $3,566,940. This trade represents a 61.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,350,384 shares of company stock worth $55,413,757. Corporate insiders own 60.04% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GLOBALT Investments LLC GA lifted its stake in shares of Samsara by 0.3% in 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 last quarter. Tidal Investments LLC grew its holdings in Samsara by 4.6% during the 4th quarter. Tidal Investments LLC now owns 6,403 shares of the company's stock valued at $280,000 after purchasing an additional 281 shares during the last quarter. Continuum Advisory LLC lifted its stake in Samsara by 32.1% in the fourth quarter. Continuum Advisory LLC now owns 1,161 shares of the company's stock worth $51,000 after purchasing an additional 282 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Samsara by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,791 shares of the company's stock valued at $253,000 after buying an additional 300 shares during the last quarter. Finally, Cim LLC lifted its stake in shares of Samsara by 1.3% during the 4th quarter. Cim LLC now owns 31,164 shares of the company's stock worth $1,362,000 after acquiring an additional 386 shares during the last quarter. Institutional investors own 96.02% of the company's stock.

Samsara Trading Up 3.6 %

Shares of IOT stock traded up $1.35 on Thursday, reaching $38.57. The company's stock had a trading volume of 314,580 shares, compared to its average volume of 3,769,480. The company has a market capitalization of $21.96 billion, a price-to-earnings ratio of -82.25 and a beta of 1.71. The stock's fifty day simple moving average is $41.30 and its 200-day simple moving average is $46.53. Samsara has a 1 year low of $27.14 and a 1 year high of $61.90.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Samsara from $50.00 to $44.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company cut their price objective on Samsara from $51.00 to $48.00 and set an "overweight" rating for the company in a report on Tuesday. Craig Hallum reissued a "hold" rating on shares of Samsara in a research report on Friday, March 7th. Morgan Stanley reduced their price target on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Cowen reissued a "buy" rating on shares of Samsara in a report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Samsara currently has an average rating of "Moderate Buy" and a consensus target price of $48.87.

About Samsara

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.