Samsara Inc. (NYSE:IOT) Short Interest Up 12.3% in July

Samsara Inc. (NYSE:IOT) saw a large increase in short interest in July. As of July 31st, there was short interest totalling 14,910,000 shares, an increase of 12.3% from the July 15th total of 13,280,000 shares. Based on an average daily trading volume, of 3,870,000 shares, the days-to-cover ratio is currently 3.9 days. Currently, 7.6% of the shares of the stock are sold short.

Insider Activity

In related news, CAO James Andrew Munk sold 1,105 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $30.01, for a total value of $33,161.05. Following the sale, the chief accounting officer now owns 337,523 shares of the company’s stock, valued at $10,129,065.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Samsara news, CEO Sanjit Biswas sold 7,674 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $40.16, for a total transaction of $308,187.84. Following the completion of the transaction, the chief executive officer now directly owns 1,584,712 shares in the company, valued at $63,642,033.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James Andrew Munk sold 1,105 shares of Samsara stock in a transaction on Monday, June 10th. The shares were sold at an average price of $30.01, for a total value of $33,161.05. Following the transaction, the chief accounting officer now directly owns 337,523 shares of the company’s stock, valued at $10,129,065.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,569,675 shares of company stock worth $54,028,757. 60.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Samsara

A number of hedge funds and other institutional investors have recently bought and sold shares of IOT. Advisors Asset Management Inc. lifted its stake in shares of Samsara by 9.4% in the 1st quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock valued at $123,000 after purchasing an additional 280 shares during the period. Janney Capital Management LLC increased its holdings in Samsara by 3.1% in the fourth quarter. Janney Capital Management LLC now owns 10,348 shares of the company’s stock valued at $345,000 after purchasing an additional 311 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Samsara by 31.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock valued at $53,000 after buying an additional 381 shares during the period. Resources Management Corp CT ADV boosted its holdings in Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after buying an additional 490 shares during the last quarter. Finally, Cetera Advisors LLC boosted its holdings in Samsara by 6.8% during the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock worth $295,000 after buying an additional 497 shares during the last quarter. 89.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IOT shares. StockNews.com downgraded shares of Samsara from a “hold” rating to a “sell” rating in a report on Monday, August 12th. Bank of America assumed coverage on Samsara in a report on Thursday, June 20th. They issued a “buy” rating and a $37.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $47.00 price target on shares of Samsara in a research report on Wednesday, June 26th. Wolfe Research reiterated an “outperform” rating and issued a $44.00 price objective on shares of Samsara in a research report on Friday, June 28th. Finally, Piper Sandler restated a “neutral” rating and set a $36.00 target price on shares of Samsara in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.17.

Samsara Trading Up 0.1 %

Samsara stock traded up $0.05 during mid-day trading on Friday, hitting $39.33. The stock had a trading volume of 2,722,964 shares, compared to its average volume of 3,685,438. The stock has a 50-day simple moving average of $34.86 and a two-hundred day simple moving average of $35.26. The stock has a market capitalization of $21.66 billion, a PE ratio of -78.66 and a beta of 1.49. Samsara has a 12 month low of $21.48 and a 12 month high of $42.28.

Samsara (NYSE:IOT) last released its earnings results on Thursday, June 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. The company had revenue of $280.73 million for the quarter, compared to the consensus estimate of $272.51 million. Sell-side analysts expect that Samsara will post -0.39 earnings per share for the current fiscal year.

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.