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

Samsara Inc. (NYSE:IOT) was the recipient of a large decline in short interest in the month of 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. Currently, 6.4% of the shares of the company are short sold.

Samsara Stock Performance

Shares of NYSE:IOT opened at $49.49 on Tuesday. The stock’s 50-day moving average is $48.68 and its 200 day moving average is $41.02. Samsara has a 1 year low of $25.76 and a 1 year high of $53.98.

Samsara (NYSE:IOT) last posted its 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 during the quarter, compared to analysts’ expectations of $289.53 million. During the same period last year, the company posted ($0.11) EPS. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. As a group, analysts forecast that Samsara will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on IOT. Royal Bank of Canada increased their target price on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Craig Hallum initiated coverage on shares of Samsara in a report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price objective for the company. Loop Capital boosted their target price on shares of Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, September 6th. BMO Capital Markets upped their price target on shares of Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Finally, Bank of America lifted their price target on shares of Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $44.87.

Insider Buying and Selling at Samsara

In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total value of $14,894,042.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sanjit Biswas sold 64,188 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $47.48, for a total transaction of $3,047,646.24. Following the completion of the transaction, the chief executive officer now directly owns 41,272 shares in the company, valued at approximately $1,959,594.56. This represents a 60.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,708,307 shares of company stock valued at $78,039,972 in the last quarter. Company insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IOT. Continuum Advisory LLC increased its stake in Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after purchasing an additional 247 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Samsara by 19.2% during the third quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock valued at $75,000 after buying an additional 250 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Samsara by 9.4% during the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock valued at $123,000 after acquiring an additional 280 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Samsara by 3.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock worth $433,000 after acquiring an additional 304 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Samsara by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 7,959 shares of the company’s stock valued at $383,000 after acquiring an additional 388 shares in the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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.