Samsara Inc. (NYSE:IOT) Short Interest Update

Samsara Inc. (NYSE:IOT - Get Free Report) was the target of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 10,310,000 shares, a decrease of 8.9% from the December 31st total of 11,320,000 shares. Based on an average trading volume of 2,960,000 shares, the short-interest ratio is currently 3.5 days. Approximately 4.3% of the company's shares are short sold.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IOT shares. StockNews.com upgraded shares of Samsara from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. 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 research note on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price objective on shares of Samsara from $40.00 to $44.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Wells Fargo & Company lifted their price objective on shares of Samsara from $46.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Finally, Loop Capital lifted their price objective on shares of Samsara from $46.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $51.67.

Insider Transactions at Samsara

In related news, insider Adam Eltoukhy sold 9,307 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $49.55, for a total value of $461,161.85. Following the transaction, the insider now owns 396,784 shares in the company, valued at approximately $19,660,647.20. This trade represents a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $50.37, for a total transaction of $4,835,520.00. Following the completion of the transaction, the chief executive officer now owns 195,886 shares in the company, valued at $9,866,777.82. The trade was a 32.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,529,135 shares of company stock worth $74,564,625 in the last three months. Company insiders own 60.04% of the company's stock.

Hedge Funds Weigh In On Samsara

A number of hedge funds have recently added to or reduced their stakes in IOT. Dimensional Fund Advisors LP boosted its holdings in Samsara by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 301,705 shares of the company's stock worth $10,164,000 after purchasing an additional 14,215 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Samsara by 12.2% in the second quarter. Thrivent Financial for Lutherans now owns 43,755 shares of the company's stock worth $1,475,000 after purchasing an additional 4,764 shares during the period. Bank of Montreal Can acquired a new position in shares of Samsara during the second quarter valued at $537,000. AQR Capital Management LLC acquired a new position in shares of Samsara during the second quarter valued at $5,827,000. Finally, Creative Planning boosted its holdings in shares of Samsara by 16.1% during the second quarter. Creative Planning now owns 147,457 shares of the company's stock valued at $4,969,000 after acquiring an additional 20,482 shares during the period. Institutional investors and hedge funds own 96.02% of the company's stock.

Samsara Trading Up 3.1 %

Samsara stock traded up $1.64 during mid-day trading on Wednesday, reaching $54.23. The company's stock had a trading volume of 1,495,944 shares, compared to its average volume of 2,477,876. The firm has a market cap of $30.43 billion, a price-to-earnings ratio of -115.19 and a beta of 1.61. The business has a 50 day moving average price of $47.66 and a 200-day moving average price of $46.15. Samsara has a twelve month low of $27.14 and a twelve month high of $57.51.

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.