Short Interest in Samsara Inc. (NYSE:IOT) Decreases By 5.8%

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

Insider Buying and Selling at Samsara

In other Samsara news, CEO Sanjit Biswas sold 65,605 shares of Samsara stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $36.82, for a total transaction of $2,415,576.10. Following the completion of the transaction, the chief executive officer now owns 1,112,694 shares in the company, valued at approximately $40,969,393.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sanjit Biswas sold 65,605 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $36.82, for a total value of $2,415,576.10. Following the transaction, the chief executive officer now owns 1,112,694 shares in the company, valued at $40,969,393.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total transaction of $14,894,042.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,016,136 shares of company stock valued at $86,642,585. Corporate insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Resources Management Corp CT ADV boosted its holdings in Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after acquiring an additional 490 shares during the period. Quarry LP purchased a new stake in shares of Samsara during the fourth quarter valued at $37,000. National Bank of Canada FI bought a new position in shares of Samsara in the second quarter worth about $38,000. Nemes Rush Group LLC purchased a new position in Samsara in the 2nd quarter worth about $45,000. Finally, UMB Bank n.a. lifted its holdings in Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after buying an additional 418 shares in the last quarter. 89.39% of the stock is currently owned by institutional investors.

Samsara Stock Down 0.6 %

Shares of Samsara stock opened at $49.18 on Friday. Samsara has a 52 week low of $21.48 and a 52 week high of $51.53. The stock’s 50-day simple moving average is $44.84 and its 200-day simple moving average is $38.49. The company has a market capitalization of $27.09 billion, a price-to-earnings ratio of -98.36 and a beta of 1.52.

Samsara (NYSE:IOT) last issued its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the firm posted ($0.11) earnings per share. The business’s revenue was up 36.9% compared to the same quarter last year. On average, equities analysts expect that Samsara will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company increased their price objective on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Loop Capital lifted their price target on shares of Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Morgan Stanley lifted their target price on shares of Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Bank of America increased their price target on Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their price objective on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Samsara currently has a consensus rating of “Hold” and a consensus price target of $43.00.

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.