Samsara Inc. (NYSE:IOT) Short Interest Update

Samsara Inc. (NYSE:IOT) saw a significant growth in short interest in 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. Currently, 4.4% of the shares of the stock are sold short. Based on an average daily volume of 3,120,000 shares, the days-to-cover ratio is currently 3.5 days.

Analyst Upgrades and Downgrades

IOT has been the subject of several recent research reports. Berenberg Bank started coverage on Samsara in a research report on Monday, February 3rd. They issued a “hold” rating and a $57.00 price objective for the company. Wells Fargo & Company increased their price objective on Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Loop Capital increased their price objective on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Craig Hallum began coverage on Samsara in a report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $51.67.

Insider Transactions at Samsara

In other Samsara news, CEO Sanjit Biswas sold 75,594 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $55.89, for a total value of $4,224,948.66. Following the completion of the sale, the chief executive officer now owns 120,292 shares of the company’s stock, valued at $6,723,119.88. This represents a 38.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Eltoukhy sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $55.05, for a total value of $688,125.00. Following the completion of the sale, the insider now directly owns 396,784 shares of the company’s stock, valued at approximately $21,842,959.20. This represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,543,006 shares of company stock valued at $75,774,307. 60.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IOT. Swedbank AB boosted its stake in Samsara by 288.9% in the 3rd quarter. Swedbank AB now owns 12,080 shares of the company’s stock worth $581,000 after purchasing an additional 8,974 shares during the period. Cornerstone Wealth Management LLC purchased a new stake in Samsara during the 3rd quarter valued at $228,000. Slow Capital Inc. raised its holdings in Samsara by 5.9% during the 3rd quarter. Slow Capital Inc. now owns 123,886 shares of the company’s stock valued at $5,961,000 after buying an additional 6,951 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Samsara by 84.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,608,921 shares of the company’s stock valued at $77,421,000 after buying an additional 734,619 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in Samsara by 2,787.2% during the 3rd quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock valued at $521,000 after buying an additional 10,452 shares during the period. Institutional investors own 96.02% of the company’s stock.

Samsara Trading Up 3.2 %

IOT stock traded up $1.86 during trading on Tuesday, reaching $60.82. The stock had a trading volume of 4,334,371 shares, compared to its average volume of 2,654,297. Samsara has a 52 week low of $27.14 and a 52 week high of $61.14. The stock’s 50 day moving average is $48.37 and its two-hundred day moving average is $47.52. The firm has a market cap of $34.13 billion, a PE ratio of -129.40 and a beta of 1.61.

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.