Samsara Inc. (NYSE:IOT - Get Free Report) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 10,310,000 shares, a decrease of 8.9% from the December 15th total of 11,320,000 shares. Based on an average daily volume of 2,960,000 shares, the days-to-cover ratio is presently 3.5 days. Currently, 4.3% of the shares of the stock are short sold.
Shares of NYSE:IOT opened at $46.75 on Friday. Samsara has a 52-week low of $27.14 and a 52-week high of $57.51. The company has a market capitalization of $26.24 billion, a P/E ratio of -99.48 and a beta of 1.59. The company has a 50-day simple moving average of $48.51 and a 200 day simple moving average of $44.80.
In other Samsara news, insider John Bicket sold 42,942 shares of the company's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $48.55, for a total transaction of $2,084,834.10. Following the transaction, the insider now directly owns 720,678 shares in the company, valued at approximately $34,988,916.90. This represents a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjit Biswas sold 42,994 shares of Samsara stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $48.55, for a total transaction of $2,087,358.70. Following the sale, the chief executive officer now owns 440,892 shares of the company's stock, valued at approximately $21,405,306.60. This represents a 8.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,606,542 shares of company stock valued at $77,988,715 over the last three months. 60.04% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in IOT. Hobbs Group Advisors LLC bought a new stake in Samsara in the 3rd quarter valued at $34,000. Continuum Advisory LLC lifted its stake in shares of Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company's stock worth $45,000 after buying an additional 247 shares during the last quarter. Resources Management Corp CT ADV boosted its holdings in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company's stock worth $32,000 after buying an additional 490 shares during the period. UMB Bank n.a. grew its stake in Samsara by 69.1% in the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company's stock valued at $49,000 after buying an additional 418 shares during the last quarter. Finally, Nemes Rush Group LLC bought a new position in Samsara in the 2nd quarter valued at about $45,000. 96.02% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on IOT. BNP Paribas began coverage on Samsara in a research note on Tuesday, October 8th. They set a "neutral" rating and a $46.00 price objective for the company. Truist Financial boosted their target price on Samsara from $40.00 to $50.00 and gave the stock a "hold" rating in a research report on Monday, November 18th. JPMorgan Chase & Co. increased their price target on shares of Samsara from $40.00 to $44.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Loop Capital boosted their price objective on shares of Samsara from $46.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Finally, Piper Sandler upped their target price on shares of Samsara from $40.00 to $50.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $51.29.
View Our Latest Stock Analysis on 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.
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