Samsara Inc. (NYSE:IOT) Short Interest Down 11.3% in November

Samsara Inc. (NYSE:IOT) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 11,580,000 shares, a decrease of 11.3% from the October 31st total of 13,060,000 shares. Currently, 5.6% of the shares of the stock are sold short. Based on an average daily volume of 3,250,000 shares, the short-interest ratio is currently 3.6 days.

Analysts Set New Price Targets

IOT has been the subject of several recent research reports. Royal Bank of Canada increased their price target on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, September 6th. BNP Paribas began coverage on Samsara in a report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. BMO Capital Markets raised their price objective on shares of Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. Finally, Piper Sandler boosted their target price on shares of Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Samsara presently has an average rating of “Hold” and a consensus target price of $45.67.

Samsara Stock Performance

Shares of NYSE IOT traded down $0.25 during trading on Friday, reaching $53.49. The stock had a trading volume of 1,046,733 shares, compared to its average volume of 2,484,746. The company has a market cap of $29.76 billion, a P/E ratio of -111.44 and a beta of 1.52. Samsara has a fifty-two week low of $26.86 and a fifty-two week high of $57.51. The business’s 50-day moving average price is $49.91 and its 200-day moving average price is $41.95.

Samsara (NYSE:IOT) last issued its quarterly 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 net margin of 24.19% and a negative return on equity of 20.39%. The business had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. During the same quarter in the prior year, the company earned ($0.11) earnings per share. The business’s quarterly revenue was up 36.9% on a year-over-year basis. Analysts forecast that Samsara will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO James Andrew Munk sold 1,093 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the transaction, the chief accounting officer now directly owns 319,667 shares in the company, valued at approximately $15,123,445.77. The trade was a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 sale, the chief executive officer now directly owns 120,292 shares of the company’s stock, valued at approximately $6,723,119.88. This represents a 38.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,809,695 shares of company stock worth $85,445,322 in the last 90 days. Insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

Several hedge funds have recently modified their holdings of IOT. California State Teachers Retirement System acquired a new position in shares of Samsara in the 1st quarter valued at $8,009,000. Cetera Advisors LLC raised its position in Samsara by 6.8% in the 1st quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock valued at $295,000 after purchasing an additional 497 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Samsara during the 1st quarter worth $362,000. RFG Advisory LLC grew its position in Samsara by 41.5% during the 2nd quarter. RFG Advisory LLC now owns 12,486 shares of the company’s stock worth $421,000 after purchasing an additional 3,662 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Samsara by 165.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 15,848 shares of the company’s stock valued at $534,000 after purchasing an additional 9,875 shares during the period. 89.39% of the stock is currently owned by institutional investors and hedge funds.

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.