Samsara Inc. (NYSE:IOT) Short Interest Down 8.9% in December

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

Insider Buying and Selling at Samsara

In other news, Director Jonathan Chadwick sold 22,500 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $45.37, for a total value of $1,020,825.00. Following the transaction, the director now directly owns 396,079 shares of the company’s stock, valued at $17,970,104.23. The trade was a 5.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjit Biswas sold 42,994 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $48.55, for a total value of $2,087,358.70. Following the sale, the chief executive officer now directly owns 440,892 shares of the company’s stock, valued at $21,405,306.60. This represents a 8.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,606,542 shares of company stock worth $77,988,715. Insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Samsara by 4.7% in the third 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 in the last quarter. HighTower Advisors LLC grew its stake in Samsara by 193.4% in the 3rd 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 increased its position in shares of Samsara by 3.1% during the 3rd 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 last quarter. International Assets Investment Management LLC raised its stake in shares of Samsara by 2,787.2% during the 3rd 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 period. Finally, Bank of Montreal Can purchased a new position in shares of Samsara in the 2nd quarter worth about $537,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Samsara Price Performance

Shares of IOT stock opened at $46.75 on Monday. The firm has a 50-day moving average of $48.40 and a 200-day moving average of $44.95. Samsara has a one year low of $27.14 and a one year high of $57.51. The company has a market cap of $26.24 billion, a P/E ratio of -99.48 and a beta of 1.59.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IOT. Royal Bank of Canada upped their price objective on shares of Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. TD Cowen upped their price target on Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Loop Capital raised their price objective on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Morgan Stanley upped their target price on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Finally, Craig Hallum initiated coverage on shares of Samsara in a research report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price target for the company. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Samsara currently has a consensus rating of “Hold” and a consensus price target of $51.29.

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.