Samsara Inc. (NYSE:IOT) Short Interest Update

Samsara Inc. (NYSE:IOTGet Rating) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totalling 8,980,000 shares, a growth of 8.3% from the July 15th total of 8,290,000 shares. Based on an average daily volume of 1,700,000 shares, the short-interest ratio is presently 5.3 days.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wells Fargo & Company decreased their price target on Samsara to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 18th. Cowen decreased their price target on Samsara to $20.00 in a research note on Friday, May 27th. The Goldman Sachs Group cut Samsara from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $27.00 to $16.00 in a research note on Monday, June 27th. Finally, Royal Bank of Canada decreased their price target on Samsara from $28.00 to $18.00 in a research note on Tuesday, May 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.78.

Insider Activity

In other news, insider Kiren Sekar sold 70,062 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $10.99, for a total value of $769,981.38. Following the completion of the sale, the insider now directly owns 264,045 shares in the company, valued at $2,901,854.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Kiren Sekar sold 70,062 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $10.99, for a total value of $769,981.38. Following the completion of the transaction, the insider now directly owns 264,045 shares in the company, valued at $2,901,854.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Benjamin Calderon sold 39,715 shares of the stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $14.01, for a total value of $556,407.15. Following the completion of the transaction, the insider now owns 167,250 shares of the company’s stock, valued at $2,343,172.50. The disclosure for this sale can be found here.

Institutional Investors Weigh In On Samsara

A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its position in shares of Samsara by 61.6% during the 1st quarter. Royal Bank of Canada now owns 6,127 shares of the company’s stock valued at $98,000 after acquiring an additional 2,335 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Samsara during the 2nd quarter valued at $33,000. Advisor Group Holdings Inc. purchased a new stake in shares of Samsara during the 4th quarter valued at $93,000. Discovery Capital Management LLC CT grew its stake in shares of Samsara by 2.0% during the 2nd quarter. Discovery Capital Management LLC CT now owns 250,000 shares of the company’s stock valued at $2,793,000 after buying an additional 4,792 shares during the period. Finally, Brandywine Managers LLC purchased a new stake in shares of Samsara during the 4th quarter valued at $270,000. Hedge funds and other institutional investors own 45.47% of the company’s stock.

Samsara Price Performance

NYSE IOT opened at $16.86 on Wednesday. Samsara has a 52-week low of $8.72 and a 52-week high of $31.41. The business’s 50-day moving average price is $13.59 and its 200 day moving average price is $14.53.

Samsara (NYSE:IOTGet Rating) last released its quarterly earnings results on Thursday, June 2nd. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). The company had revenue of $142.65 million during the quarter, compared to analysts’ expectations of $131.70 million. On average, equities analysts forecast that Samsara will post -0.57 EPS for the current year.

About Samsara

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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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