Samsara Inc. (NYSE:IOT) Short Interest Down 13.4% in February

Samsara Inc. (NYSE:IOT) was the recipient of a large decrease in short interest in 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 company’s shares are sold short. Based on an average daily volume of 3,910,000 shares, the days-to-cover ratio is currently 2.7 days.

Insider Buying and Selling

In other news, insider Adam Eltoukhy sold 3,903 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $34.07, for a total value of $132,975.21. Following the completion of the sale, the insider now owns 320,936 shares of the company’s stock, valued at $10,934,289.52. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $34.19, for a total value of $10,015,310.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,520,643 shares of company stock valued at $67,197,394. 60.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Samsara

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its stake in shares of Samsara by 262.0% in the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after purchasing an additional 414 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Samsara in the 4th quarter valued at about $31,000. Hobbs Group Advisors LLC acquired a new position in Samsara during the 3rd quarter valued at about $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 buying an additional 598 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Samsara in the 4th quarter worth approximately $38,000. 96.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial dropped their price objective on shares of Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a research note on Friday, March 7th. BMO Capital Markets raised Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research report on Monday, March 10th. Royal Bank of Canada lowered their price objective on Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Craig Hallum reaffirmed a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Finally, Piper Sandler raised shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price target for the company in a research report on Monday, March 10th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Samsara has an average rating of “Moderate Buy” and an average target price of $49.60.

Samsara Stock Up 4.1 %

NYSE IOT traded up $1.56 on Wednesday, hitting $39.67. The stock had a trading volume of 1,395,294 shares, compared to its average volume of 3,544,038. The company’s 50-day moving average is $48.05 and its two-hundred day moving average is $48.15. Samsara has a one year low of $27.14 and a one year high of $61.90. The stock has a market cap of $22.26 billion, a price-to-earnings ratio of -84.47 and a beta of 1.63.

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.