Short Interest in Samsara Inc. (NYSE:IOT) Grows By 7.8%

Samsara Inc. (NYSE:IOT) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 10,900,000 shares, a growth 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 short-interest ratio is currently 3.5 days. Currently, 4.4% of the company’s stock are short sold.

Insider Activity at Samsara

In other Samsara news, insider Dominic Phillips sold 20,801 shares of Samsara stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $50.97, for a total value of $1,060,226.97. Following the transaction, the insider now directly owns 755,001 shares in the company, valued at approximately $38,482,400.97. The trade was a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjit Biswas sold 75,594 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $55.89, for a total transaction of $4,224,948.66. Following the completion of the sale, the chief executive officer now directly owns 120,292 shares of the company’s stock, valued at $6,723,119.88. The trade was a 38.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,543,006 shares of company stock valued at $75,774,307 in the last ninety days. Insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC grew its stake in Samsara by 262.0% in 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 during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Samsara in the fourth quarter valued at approximately $31,000. Hobbs Group Advisors LLC purchased a new position in shares of Samsara during the 3rd quarter worth approximately $34,000. IFP Advisors Inc raised its position in shares of Samsara by 290.3% during the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock worth $35,000 after purchasing an additional 598 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in Samsara in the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Samsara Stock Up 3.2 %

NYSE IOT traded up $1.86 during mid-day trading on Tuesday, hitting $60.82. The stock had a trading volume of 4,334,371 shares, compared to its average volume of 2,654,297. The company has a 50 day simple moving average of $48.07 and a 200 day simple moving average of $47.34. The company 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 52-week low of $27.14 and a 52-week high of $61.14.

Analysts Set New Price Targets

Several research firms have commented on IOT. Craig Hallum began coverage on Samsara in a research note on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price objective for the company. Truist Financial upped their price target on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Royal Bank of Canada raised their target price on shares of Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Morgan Stanley boosted their price target on shares of Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $51.67.

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.