Samsara Inc. (NYSE:IOT) Short Interest Update

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

Samsara Stock Performance

Shares of Samsara stock traded up $0.98 during midday trading on Tuesday, reaching $54.63. 2,706,224 shares of the company’s stock traded hands, compared to its average volume of 3,507,048. The company has a market cap of $30.39 billion, a price-to-earnings ratio of -113.81 and a beta of 1.53. The company’s 50 day simple moving average is $50.09 and its 200 day simple moving average is $42.14. Samsara has a 52 week low of $27.14 and a 52 week high of $57.51.

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

Insider Activity at Samsara

In related news, insider Adam Eltoukhy sold 12,500 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $45.00, for a total transaction of $562,500.00. Following the completion of the sale, the insider now directly owns 465,967 shares of the company’s stock, valued at $20,968,515. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Bicket sold 75,600 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 transaction of $4,225,284.00. Following the sale, the insider now directly owns 400,020 shares of the company’s stock, valued at approximately $22,357,117.80. This represents a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,623,376 shares of company stock valued at $78,007,468 over the last ninety days. Insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. bought a new position in Samsara in the 3rd quarter worth $10,868,000. Wilmington Savings Fund Society FSB acquired a new stake in Samsara in the 3rd quarter worth $546,000. Virtu Financial LLC acquired a new stake in Samsara in the 3rd quarter worth $1,689,000. Hobbs Group Advisors LLC acquired a new stake in Samsara in the 3rd quarter worth $34,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in Samsara by 2.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 149,789 shares of the company’s stock worth $7,208,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors own 89.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IOT shares. BMO Capital Markets raised their price objective 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. Wells Fargo & Company raised their price objective on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” 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 issued a “hold” rating and a $48.00 price objective for the company. Loop Capital raised their price objective on shares of Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Evercore ISI increased their target price on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $46.43.

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.