Samsara Inc. (NYSE:IOT) Short Interest Down 5.8% in October

Samsara Inc. (NYSE:IOT) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 13,060,000 shares, a decline of 5.8% from the October 15th total of 13,870,000 shares. Based on an average daily volume of 3,250,000 shares, the short-interest ratio is presently 4.0 days. Approximately 6.4% of the company’s stock are short sold.

Samsara Stock Up 5.6 %

Shares of IOT opened at $52.24 on Wednesday. The firm has a market capitalization of $29.06 billion, a PE ratio of -108.83 and a beta of 1.52. The firm has a 50-day moving average price of $48.78 and a 200 day moving average price of $41.12. Samsara has a 52-week low of $25.76 and a 52-week high of $53.98.

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

Insider Activity

In related news, CAO James Andrew Munk sold 1,093 shares of Samsara stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total value of $51,709.83. Following the completion of the sale, the chief accounting officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Bicket sold 93,212 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total transaction of $3,721,023.04. Following the transaction, the insider now owns 76,800 shares in the company, valued at $3,065,856. This trade represents a 54.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,717,614 shares of company stock worth $78,501,134. 60.04% of the stock is currently owned by company insiders.

Institutional Trading of Samsara

A number of hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. boosted its position in shares of Samsara by 23.4% in the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after buying an additional 6,411,178 shares during the period. 1832 Asset Management L.P. boosted its position in Samsara by 102.1% during the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after acquiring an additional 3,853,400 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Samsara by 18.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock valued at $666,584,000 after acquiring an additional 2,797,326 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Samsara by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after purchasing an additional 1,841,149 shares during the period. Finally, FMR LLC lifted its position in shares of Samsara by 15.6% in the third quarter. FMR LLC now owns 11,890,600 shares of the company’s stock worth $572,176,000 after purchasing an additional 1,604,822 shares in the last quarter. 89.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Royal Bank of Canada increased their price target on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Morgan Stanley lifted their target price on Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their price target on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Bank of America raised their price objective on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research note 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 research note on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Samsara presently has a consensus rating of “Hold” and a consensus target price of $44.87.

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.