Samsara Inc. (NYSE:IOT) Short Interest Up 7.8% in January

Samsara Inc. (NYSE:IOT) was the recipient of a large growth in short interest in the month of 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. Based on an average daily trading volume, of 3,120,000 shares, the short-interest ratio is currently 3.5 days. Approximately 4.4% of the company’s stock are short sold.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IOT. Fourth Dimension Wealth LLC bought a new stake in shares of Samsara during the fourth quarter valued at approximately $38,000. Continuum Advisory LLC raised its stake in Samsara by 32.1% during the 4th quarter. Continuum Advisory LLC now owns 1,161 shares of the company’s stock valued at $51,000 after acquiring an additional 282 shares in the last quarter. Woodline Partners LP acquired a new position in Samsara during the 4th quarter worth $3,777,000. Vident Advisory LLC grew its stake in shares of Samsara by 33.6% in the fourth quarter. Vident Advisory LLC now owns 8,591 shares of the company’s stock worth $375,000 after purchasing an additional 2,162 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Samsara by 90.3% during the fourth quarter. Two Sigma Advisers LP now owns 1,307,400 shares of the company’s stock valued at $57,120,000 after purchasing an additional 620,300 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. BMO Capital Markets boosted their price objective on Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Berenberg Bank started coverage on Samsara in a report on Monday, February 3rd. They set a “hold” rating and a $57.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Samsara has an average rating of “Hold” and an average target price of $51.67.

Samsara Stock Performance

Shares of IOT traded up $1.86 during midday trading on Tuesday, hitting $60.82. 4,334,371 shares of the stock traded hands, compared to its average volume of 2,654,297. The business’s 50 day moving average price is $48.37 and its two-hundred day moving average price is $47.52. The firm has a market capitalization of $34.13 billion, a PE ratio of -129.40 and a beta of 1.61. Samsara has a 1-year low of $27.14 and a 1-year high of $61.14.

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.