Samsara Inc. (NYSE:IOT) Short Interest Update

Samsara Inc. (NYSE:IOT) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 11,580,000 shares, a decline of 11.3% from the October 31st total of 13,060,000 shares. Based on an average trading volume of 3,250,000 shares, the days-to-cover ratio is presently 3.6 days. Currently, 5.6% of the shares of the stock are short sold.

Samsara Stock Performance

IOT traded up $0.98 on Tuesday, hitting $54.63. The company had a trading volume of 2,706,224 shares, compared to its average volume of 3,507,048. The stock has a market capitalization of $30.39 billion, a price-to-earnings ratio of -113.81 and a beta of 1.53. The stock has a fifty day moving average price of $50.09 and a 200-day moving average price of $42.14. Samsara has a 12-month low of $27.14 and a 12-month high of $57.51.

Samsara (NYSE:IOT) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The firm had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. During the same quarter last year, the firm earned ($0.11) EPS. The business’s quarterly revenue was up 36.9% on a year-over-year basis. Analysts forecast that Samsara will post -0.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Evercore ISI lifted their price objective on shares of Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a report on Friday, September 6th. BMO Capital Markets upped their target price on shares of Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Craig Hallum started coverage on shares of Samsara in a research note on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price target for the company. Finally, Morgan Stanley increased their price objective on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.43.

Insiders Place Their Bets

In related news, CEO Sanjit Biswas sold 75,594 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $55.89, for a total transaction of $4,224,948.66. Following the sale, the chief executive officer now owns 120,292 shares in the company, valued at approximately $6,723,119.88. This represents a 38.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of Samsara stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total transaction of $14,894,042.28. The disclosure for this sale can be found here. Insiders have sold a total of 1,623,376 shares of company stock valued at $78,007,468 in the last quarter. 60.04% of the stock is currently owned by insiders.

Institutional Trading of Samsara

Several large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System acquired a new position in Samsara during the first quarter valued at $8,009,000. Cetera Advisors LLC boosted its stake in shares of Samsara by 6.8% in 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. DekaBank Deutsche Girozentrale acquired a new stake in Samsara during the first quarter worth about $362,000. RFG Advisory LLC raised its position in Samsara by 41.5% during the second quarter. RFG Advisory LLC now owns 12,486 shares of the company’s stock valued at $421,000 after acquiring an additional 3,662 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Samsara by 165.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 15,848 shares of the company’s stock valued at $534,000 after acquiring an additional 9,875 shares during the period. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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.