Samsara Inc. (NYSE:IOT) Sees Significant Increase in Short Interest

Samsara Inc. (NYSE:IOTGet Rating) saw a large growth in short interest in December. As of December 30th, there was short interest totalling 9,280,000 shares, a growth of 29.8% from the December 15th total of 7,150,000 shares. Currently, 9.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,390,000 shares, the days-to-cover ratio is currently 6.7 days.

Insiders Place Their Bets

In other Samsara news, CEO Sanjit Biswas sold 23,866 shares of the business’s stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $11.45, for a total transaction of $273,265.70. Following the sale, the chief executive officer now directly owns 91,438 shares in the company, valued at approximately $1,046,965.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Samsara news, CEO Sanjit Biswas sold 23,866 shares of the business’s stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $11.45, for a total transaction of $273,265.70. Following the sale, the chief executive officer now directly owns 91,438 shares in the company, valued at approximately $1,046,965.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Bicket sold 18,447 shares of the business’s stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $12.38, for a total transaction of $228,373.86. Following the sale, the insider now owns 27,807 shares in the company, valued at $344,250.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 968,514 shares of company stock worth $11,440,011.

Institutional Investors Weigh In On Samsara

Large investors have recently made changes to their positions in the company. Avitas Wealth Management LLC increased its stake in Samsara by 7.4% in the 3rd quarter. Avitas Wealth Management LLC now owns 15,104 shares of the company’s stock valued at $182,000 after buying an additional 1,038 shares during the period. IFP Advisors Inc acquired a new position in Samsara in the 3rd quarter valued at approximately $44,000. Exchange Traded Concepts LLC increased its stake in Samsara by 8.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 25,270 shares of the company’s stock valued at $305,000 after buying an additional 1,895 shares during the period. Arizona State Retirement System increased its stake in Samsara by 13.3% in the 3rd quarter. Arizona State Retirement System now owns 19,682 shares of the company’s stock valued at $238,000 after buying an additional 2,308 shares during the period. Finally, Royal Bank of Canada increased its stake in Samsara by 61.6% in the 1st quarter. Royal Bank of Canada now owns 6,127 shares of the company’s stock valued at $98,000 after buying an additional 2,335 shares during the period. Institutional investors and hedge funds own 43.05% of the company’s stock.

Samsara Price Performance

IOT stock opened at $12.27 on Friday. Samsara has a 52-week low of $8.42 and a 52-week high of $25.42. The company’s 50 day simple moving average is $11.42 and its 200-day simple moving average is $12.68. The firm has a market capitalization of $6.37 billion and a P/E ratio of -11.58.

Samsara (NYSE:IOTGet Rating) last released its quarterly earnings results on Thursday, December 1st. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. Samsara had a negative net margin of 75.47% and a negative return on equity of 21.98%. The business had revenue of $169.80 million for the quarter, compared to analyst estimates of $155.64 million. Sell-side analysts predict that Samsara will post -0.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IOT shares. Evercore ISI dropped their price target on shares of Samsara to $15.00 in a research report on Friday, December 2nd. Moffett Nathanson assumed coverage on shares of Samsara in a report on Thursday, September 22nd. They issued a “buy” rating and a $40.00 target price on the stock. Royal Bank of Canada dropped their target price on shares of Samsara from $19.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, November 28th. StockNews.com assumed coverage on shares of Samsara in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. Finally, Morgan Stanley dropped their target price on shares of Samsara from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Tuesday, November 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.38.

Samsara Company Profile

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Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.

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