Samsara Inc. (NYSE:IOT) Sees Significant Increase in Short Interest

Samsara Inc. (NYSE:IOTGet Rating) saw a large increase in short interest during the month of December. As of December 30th, there was short interest totalling 9,280,000 shares, an increase of 29.8% from the December 15th total of 7,150,000 shares. Approximately 9.6% of the company’s stock are sold short. Based on an average daily volume of 1,390,000 shares, the days-to-cover ratio is currently 6.7 days.

Insider Transactions at Samsara

In other news, insider Benjamin Calderon sold 164,785 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $12.10, for a total transaction of $1,993,898.50. Following the transaction, the insider now owns 115,583 shares in the company, valued at approximately $1,398,554.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Adam Eltoukhy sold 31,000 shares of the company’s stock in a transaction on Friday, December 9th. The shares were sold at an average price of $13.05, for a total transaction of $404,550.00. Following the completion of the sale, the insider now directly owns 593,213 shares of the company’s stock, valued at approximately $7,741,429.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Benjamin Calderon sold 164,785 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $12.10, for a total transaction of $1,993,898.50. Following the sale, the insider now directly owns 115,583 shares of the company’s stock, valued at $1,398,554.30. The disclosure for this sale can be found here. Insiders have sold a total of 968,514 shares of company stock worth $11,440,011 in the last 90 days.

Institutional Investors Weigh In On Samsara

A number of hedge funds have recently made changes to their positions in the company. Ritholtz Wealth Management acquired a new stake in shares of Samsara during the 4th quarter worth about $516,000. Exchange Traded Concepts LLC increased its position in shares of Samsara by 4,795.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,237,033 shares of the company’s stock worth $15,376,000 after purchasing an additional 1,211,763 shares in the last quarter. Spinnaker Investment Group LLC acquired a new stake in shares of Samsara during the 4th quarter worth about $125,000. California State Teachers Retirement System increased its position in shares of Samsara by 14.4% during the 3rd quarter. California State Teachers Retirement System now owns 62,812 shares of the company’s stock worth $758,000 after purchasing an additional 7,911 shares in the last quarter. Finally, Advisory Research Inc. increased its position in shares of Samsara by 18.4% during the 3rd quarter. Advisory Research Inc. now owns 329,659 shares of the company’s stock worth $3,979,000 after purchasing an additional 51,136 shares in the last quarter. Institutional investors and hedge funds own 43.05% of the company’s stock.

Samsara Stock Performance

NYSE:IOT opened at $12.27 on Friday. The company has a 50-day moving average of $11.42 and a 200-day moving average of $12.68. The company has a market capitalization of $6.37 billion and a price-to-earnings ratio of -11.58. Samsara has a 52 week low of $8.42 and a 52 week high of $25.42.

Samsara (NYSE:IOTGet Rating) last released its quarterly earnings data on Thursday, December 1st. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. The company had revenue of $169.80 million during the quarter, compared to the consensus estimate of $155.64 million. Samsara had a negative net margin of 75.47% and a negative return on equity of 21.98%. Sell-side analysts forecast that Samsara will post -0.51 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IOT. Moffett Nathanson began coverage on shares of Samsara in a report on Thursday, September 22nd. They set a “buy” rating and a $40.00 price objective for the company. Royal Bank of Canada reduced their price target on shares of Samsara from $19.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, November 28th. Evercore ISI reduced their price target on shares of Samsara to $15.00 in a report on Friday, December 2nd. Morgan Stanley reduced their price target on shares of Samsara from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Tuesday, November 22nd. Finally, StockNews.com began coverage on shares of Samsara in a report on Wednesday, October 12th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.38.

Samsara Company Profile

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Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.

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