Samsara Inc. (NYSE:IOT) Short Interest Update

Samsara Inc. (NYSE:IOT) was the recipient of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 10,460,000 shares, a decline of 13.4% from the February 13th total of 12,080,000 shares. Based on an average daily volume of 3,910,000 shares, the short-interest ratio is presently 2.7 days. Currently, 4.2% of the company’s shares are short sold.

Samsara Trading Up 4.1 %

Shares of IOT stock traded up $1.56 during mid-day trading on Wednesday, reaching $39.67. The stock had a trading volume of 1,395,294 shares, compared to its average volume of 3,544,038. Samsara has a 12-month low of $27.14 and a 12-month high of $61.90. The business has a 50-day simple moving average of $48.05 and a 200 day simple moving average of $48.15. The company has a market cap of $22.26 billion, a P/E ratio of -84.47 and a beta of 1.63.

Insider Buying and Selling

In other news, insider Adam Eltoukhy sold 3,903 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $34.07, for a total transaction of $132,975.21. Following the transaction, the insider now owns 320,936 shares of the company’s stock, valued at approximately $10,934,289.52. This represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of Samsara stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $34.19, for a total transaction of $10,015,310.89. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,520,643 shares of company stock valued at $67,197,394. Company insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its holdings in shares of Samsara by 0.8% in the fourth quarter. California State Teachers Retirement System now owns 312,209 shares of the company’s stock worth $13,640,000 after acquiring an additional 2,577 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Samsara by 18.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,089 shares of the company’s stock worth $703,000 after purchasing an additional 2,539 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Samsara in the 4th quarter valued at $2,062,000. Wealthedge Investment Advisors LLC acquired a new stake in shares of Samsara during the 4th quarter worth $398,000. Finally, Cim LLC increased its holdings 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 buying an additional 386 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Wall Street Analyst Weigh In

IOT has been the topic of several research analyst reports. Cowen reiterated a “buy” rating on shares of Samsara in a report on Friday, March 7th. Raymond James started coverage on shares of Samsara in a research report on Wednesday, February 26th. They set a “market perform” rating on the stock. 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 report on Friday, December 6th. Loop Capital increased their target price on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Truist Financial dropped their price target on shares of Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.60.

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.