Short Interest in Samsara Inc. (NYSE:IOT) Declines By 8.9%

Samsara Inc. (NYSE:IOT) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 10,310,000 shares, a drop of 8.9% from the December 31st total of 11,320,000 shares. Based on an average daily volume of 2,960,000 shares, the short-interest ratio is presently 3.5 days. Currently, 4.3% of the company’s stock are short sold.

Insider Transactions at Samsara

In other Samsara news, insider John Bicket sold 107,152 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $51.13, for a total transaction of $5,478,681.76. Following the transaction, the insider now owns 138,000 shares of the company’s stock, valued at $7,055,940. The trade was a 43.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Adam Eltoukhy sold 9,307 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $49.55, for a total value of $461,161.85. Following the sale, the insider now owns 396,784 shares in the company, valued at approximately $19,660,647.20. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,657,460 shares of company stock valued at $80,657,496 over the last 90 days. 60.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Samsara

A number of hedge funds have recently bought and sold shares of IOT. Atria Wealth Solutions Inc. grew its position in shares of Samsara by 15.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 13,348 shares of the company’s stock worth $583,000 after purchasing an additional 1,818 shares in the last quarter. CIBC Asset Management Inc grew its position in Samsara by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,791 shares of the company’s stock worth $253,000 after buying an additional 300 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in Samsara by 3.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 81,334 shares of the company’s stock worth $3,553,000 after acquiring an additional 3,047 shares during the period. Blue Trust Inc. raised its holdings in Samsara by 10,923.1% in the 4th quarter. Blue Trust Inc. now owns 7,165 shares of the company’s stock valued at $313,000 after acquiring an additional 7,100 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Samsara during the 4th quarter valued at $1,521,000. 96.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IOT has been the topic of several analyst reports. Loop Capital upped their price target on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Wells Fargo & Company upped their target price on shares of Samsara from $46.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, December 6th. BNP Paribas began coverage on Samsara in a research report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price target on the stock. TD Cowen raised their price objective on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada lifted their target price on Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $51.29.

Samsara Price Performance

IOT stock opened at $51.38 on Friday. The business’s fifty day moving average price is $47.80 and its two-hundred day moving average price is $45.80. The stock has a market capitalization of $28.83 billion, a price-to-earnings ratio of -109.31 and a beta of 1.59. Samsara has a fifty-two week low of $27.14 and a fifty-two week high of $57.51.

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.