Short Interest in Samsara Inc. (NYSE:IOT) Decreases By 13.4%

Samsara Inc. (NYSE:IOT) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 10,460,000 shares, a decrease of 13.4% from the February 13th total of 12,080,000 shares. Currently, 4.2% of the shares of the stock are sold short. Based on an average trading volume of 3,910,000 shares, the short-interest ratio is presently 2.7 days.

Insiders Place Their Bets

In other news, Director Jonathan Chadwick sold 22,500 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $45.37, for a total transaction of $1,020,825.00. Following the completion of the sale, the director now owns 396,079 shares of the company’s stock, valued at $17,970,104.23. The trade was a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $34.19, for a total transaction of $10,015,310.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,597,277 shares of company stock worth $70,158,166. Company insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its position in Samsara by 24.0% during the fourth quarter. FMR LLC now owns 14,743,175 shares of the company’s stock valued at $644,129,000 after buying an additional 2,852,575 shares in the last quarter. Jordan Park Trust Co LLC acquired a new position in Samsara during the fourth quarter valued at approximately $112,041,000. Norges Bank acquired a new position in Samsara during the fourth quarter valued at approximately $106,274,000. Arrowstreet Capital Limited Partnership lifted its position in Samsara by 107.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock valued at $181,045,000 after buying an additional 2,148,081 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in Samsara by 1,909.4% during the third quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company’s stock valued at $90,026,000 after buying an additional 1,777,757 shares in the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Samsara Price Performance

IOT traded up $0.05 during midday trading on Thursday, reaching $39.87. 1,336,355 shares of the company’s stock were exchanged, compared to its average volume of 3,553,379. The stock has a market capitalization of $22.37 billion, a PE ratio of -84.60 and a beta of 1.63. Samsara has a 1-year low of $27.14 and a 1-year high of $61.90. The business’s 50-day moving average price is $47.96 and its 200 day moving average price is $48.10.

Analysts Set New Price Targets

IOT has been the subject of several research reports. Cowen reaffirmed a “buy” rating on shares of Samsara in a research note on Friday, March 7th. Berenberg Bank initiated coverage on shares of Samsara in a research note on Monday, February 3rd. They set a “hold” rating and a $57.00 price objective for the company. Craig Hallum reaffirmed a “hold” rating on shares of Samsara in a research note on Friday, March 7th. Raymond James started coverage on shares of Samsara in a research note on Wednesday, February 26th. They set a “market perform” rating for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Samsara has an average rating of “Moderate Buy” and an average price target of $49.60.

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.