Samsara Inc. (NYSE:IOT) Short Interest Down 5.8% in September

Samsara Inc. (NYSE:IOT) saw a large decrease in short interest in September. As of September 30th, there was short interest totalling 14,340,000 shares, a decrease of 5.8% from the September 15th total of 15,220,000 shares. Approximately 7.0% of the company’s stock are short sold. Based on an average daily volume of 3,380,000 shares, the days-to-cover ratio is currently 4.2 days.

Samsara Stock Performance

Shares of IOT opened at $49.18 on Friday. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $51.53. The firm has a 50 day moving average price of $44.84 and a 200-day moving average price of $38.49. The firm has a market cap of $27.09 billion, a price-to-earnings ratio of -98.36 and a beta of 1.52.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on IOT shares. Loop Capital raised their price target on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, September 6th. BMO Capital Markets increased their price target on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Royal Bank of Canada boosted their price objective on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Bank of America lifted their target price on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Wolfe Research restated an “outperform” rating and set a $44.00 price objective on shares of Samsara in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Samsara presently has an average rating of “Hold” and an average price target of $43.00.

Insider Transactions at Samsara

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total value of $14,894,042.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of Samsara stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total transaction of $14,894,042.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjit Biswas sold 84,150 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $38.06, for a total value of $3,202,749.00. Following the completion of the sale, the chief executive officer now directly owns 1,190,149 shares of the company’s stock, valued at approximately $45,297,070.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,016,136 shares of company stock valued at $86,642,585 in the last 90 days. 60.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Samsara

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cornerstone Wealth Management LLC bought a new position in shares of Samsara during the third quarter valued at approximately $228,000. Capstone Wealth Management Group LLC lifted its position in shares of Samsara by 2.3% in the 3rd quarter. Capstone Wealth Management Group LLC now owns 26,660 shares of the company’s stock worth $1,283,000 after purchasing an additional 610 shares during the period. Swedbank AB boosted its stake in shares of Samsara by 288.9% during the 3rd quarter. Swedbank AB now owns 12,080 shares of the company’s stock valued at $581,000 after purchasing an additional 8,974 shares in the last quarter. Carnegie Investment Counsel increased its position in shares of Samsara by 27.0% during the third quarter. Carnegie Investment Counsel now owns 80,085 shares of the company’s stock valued at $3,854,000 after buying an additional 17,022 shares during the period. Finally, Paragon Capital Management Ltd bought a new position in Samsara in the third quarter worth about $935,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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.