Short Interest in Samsara Inc. (NYSE:IOT) Declines By 9.9% – MarketBeat

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Samsara Inc. (NYSE:IOTGet Free Report) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 14,530,000 shares, a decline of 9.9% from the October 31st total of 16,130,000 shares. Approximately 9.3% of the company’s stock are sold short. Based on an average daily trading volume, of 2,900,000 shares, the days-to-cover ratio is presently 5.0 days.

Insider Transactions at Samsara

In related news, insider Adam Eltoukhy sold 1,666 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $26.00, for a total value of $43,316.00. Following the completion of the sale, the insider now owns 767,489 shares in the company, valued at approximately $19,954,714. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO James Andrew Munk sold 2,339 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $26.58, for a total value of $62,170.62. Following the completion of the sale, the chief accounting officer now owns 332,774 shares in the company, valued at approximately $8,845,132.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Adam Eltoukhy sold 1,666 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $26.00, for a total transaction of $43,316.00. Following the completion of the transaction, the insider now directly owns 767,489 shares in the company, valued at $19,954,714. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,553,917 shares of company stock worth $68,658,582. 66.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IOT. Ulland Investment Advisors LLC acquired a new position in Samsara during the second quarter valued at approximately $25,000. State of Wyoming acquired a new position in Samsara during the fourth quarter valued at approximately $27,000. Fred Alger Management LLC acquired a new position in Samsara during the third quarter valued at approximately $28,000. Macquarie Group Ltd. lifted its position in Samsara by 37.3% during the fourth quarter. Macquarie Group Ltd. now owns 2,391 shares of the company’s stock valued at $30,000 after buying an additional 649 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Samsara during the second quarter valued at approximately $33,000. 52.47% of the stock is owned by institutional investors and hedge funds.

Samsara Trading Down 0.9 %

Shares of Samsara stock traded down $0.30 during mid-day trading on Monday, hitting $34.29. 7,733,615 shares of the stock were exchanged, compared to its average volume of 3,076,430. The company has a 50-day simple moving average of $25.20 and a 200 day simple moving average of $25.83. Samsara has a twelve month low of $10.48 and a twelve month high of $35.69. The stock has a market capitalization of $18.34 billion, a price-to-earnings ratio of -81.64 and a beta of 1.50.

Samsara (NYSE:IOTGet Free Report) last released its earnings results on Thursday, August 31st. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. Samsara had a negative net margin of 26.77% and a negative return on equity of 18.97%. The business had revenue of $219.26 million for the quarter, compared to analysts’ expectations of $207.69 million. Equities research analysts forecast that Samsara will post -0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IOT. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a report on Friday. Piper Sandler increased their price target on shares of Samsara from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Friday. The Goldman Sachs Group increased their price target on shares of Samsara from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada raised their target price on shares of Samsara from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Friday. Finally, Wells Fargo & Company raised their target price on shares of Samsara from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.56.

View Our Latest Stock Analysis on IOT

Samsara Company Profile

(Get Free Report)

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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