Samsara Inc. (NYSE:IOT – Get Free Report) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 10,310,000 shares, a drop of 8.9% from the December 15th total of 11,320,000 shares. Based on an average daily trading volume, of 2,960,000 shares, the short-interest ratio is currently 3.5 days. Approximately 4.3% of the shares of the company are short sold.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on IOT shares. JPMorgan Chase & Co. upped their price target on shares of Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Piper Sandler upped their target price on Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. BNP Paribas initiated coverage on Samsara in a research report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada lifted their target price on shares of Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $51.29.
Check Out Our Latest Analysis on Samsara
Samsara Stock Up 2.0 %
Insider Buying and Selling
In other Samsara news, major shareholder Sanjit Biswas sold 83,333 shares of Samsara stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $53.81, for a total transaction of $4,484,148.73. Following the completion of the transaction, the insider now owns 19,200 shares of the company’s stock, valued at $1,033,152. The trade was a 81.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Adam Eltoukhy sold 23,960 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $43.81, for a total value of $1,049,687.60. Following the sale, the insider now owns 331,106 shares in the company, valued at approximately $14,505,753.86. This represents a 6.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,606,542 shares of company stock valued at $77,988,715. Company insiders own 60.04% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp boosted its holdings in Samsara by 4.7% during the 3rd quarter. State Street Corp now owns 2,125,584 shares of the company’s stock valued at $102,283,000 after acquiring an additional 95,006 shares during the period. HighTower Advisors LLC boosted its stake in shares of Samsara by 193.4% during the third quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock valued at $2,981,000 after purchasing an additional 40,833 shares during the period. Swiss National Bank boosted its stake in shares of Samsara by 3.1% during the third quarter. Swiss National Bank now owns 615,600 shares of the company’s stock valued at $29,623,000 after purchasing an additional 18,400 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Samsara by 2,787.2% in the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock worth $521,000 after purchasing an additional 10,452 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Samsara in the second quarter worth $537,000. 96.02% of the stock is owned by institutional investors.
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.
Read More
- Five stocks we like better than Samsara
- CD Calculator: Certificate of Deposit Calculator
- Earn High Dividends With 2 Top REITs Set to Perform in 2025
- Options Trading – Understanding Strike Price
- Oilfield Leader SLB: An AI Name You Need to Know
- Profitably Trade Stocks at 52-Week Highs
- Top ETFs That Beat the Market in 2024 and Could Do It Again
Receive News & Ratings for Samsara Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Samsara and related companies with MarketBeat.com's FREE daily email newsletter.