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

Samsara Inc. (NYSE:IOT) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 10,900,000 shares, an increase 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 days-to-cover ratio is currently 3.5 days. Currently, 4.4% of the shares of the stock are sold short.

Insider Activity

In other news, insider Sanjit Biswas sold 170,416 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $45.30, for a total value of $7,719,844.80. Following the sale, the insider now directly owns 1,175,569 shares in the company, valued at $53,253,275.70. This represents a 12.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $688,125.00. Following the transaction, the insider now owns 396,784 shares of the company’s stock, valued at $21,842,959.20. This represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,543,006 shares of company stock worth $75,774,307 over the last 90 days. 60.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Samsara

Several large investors have recently made changes to their positions in IOT. NewEdge Advisors LLC lifted its holdings in shares of Samsara by 262.0% during the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after acquiring an additional 414 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Samsara in the fourth quarter valued at about $31,000. Hobbs Group Advisors LLC acquired a new position in shares of Samsara during the third quarter worth about $34,000. IFP Advisors Inc boosted its position in shares of Samsara by 290.3% in the fourth quarter. IFP Advisors Inc now owns 804 shares of the company’s stock worth $35,000 after buying an additional 598 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Samsara in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

Samsara Stock Performance

Shares of NYSE:IOT traded up $1.86 during trading on Tuesday, reaching $60.82. 4,334,371 shares of the stock were exchanged, compared to its average volume of 2,654,297. The firm’s 50-day moving average price is $48.37 and its 200 day moving average price is $47.52. The firm has a market cap of $34.13 billion, a price-to-earnings ratio of -129.40 and a beta of 1.61. Samsara has a 12-month low of $27.14 and a 12-month high of $61.14.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Loop Capital boosted their target price on shares of Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Berenberg Bank started coverage on shares of Samsara in a report on Monday, February 3rd. They issued a “hold” rating and a $57.00 target price on the stock. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, BMO Capital Markets raised their price objective on Samsara from $44.00 to $57.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $51.67.

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.