Samsara Sees Unusually Large Options Volume (NYSE:IOT)

Samsara Inc. (NYSE:IOT) was the recipient of some unusual options trading on Friday. Traders acquired 14,545 put options on the company. This represents an increase of 98% compared to the average volume of 7,355 put options.

Samsara Stock Performance

Shares of IOT stock opened at $46.21 on Friday. The stock has a fifty day moving average of $46.62 and a two-hundred day moving average of $39.60. The firm has a market capitalization of $25.71 billion, a PE ratio of -96.27 and a beta of 1.52. Samsara has a 1 year low of $22.19 and a 1 year high of $51.53.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. Samsara’s revenue was up 36.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.11) EPS. Equities research analysts predict that Samsara will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IOT has been the topic of several research reports. TD Cowen increased their target price on Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. StockNews.com lowered shares of Samsara from a “hold” rating to a “sell” rating in a report on Wednesday. Craig Hallum initiated coverage on Samsara in a report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price objective on the stock. Truist Financial upped their target price on shares of Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Finally, Loop Capital raised their price objective on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $44.20.

Insider Activity at Samsara

In related news, CEO Sanjit Biswas sold 81,515 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $37.04, for a total value of $3,019,315.60. Following the sale, the chief executive officer now directly owns 96,000 shares of the company’s stock, valued at approximately $3,555,840. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the company’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjit Biswas sold 81,515 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $37.04, for a total transaction of $3,019,315.60. Following the transaction, the chief executive officer now directly owns 96,000 shares of the company’s stock, valued at approximately $3,555,840. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,879,269 shares of company stock worth $83,386,415 over the last three months. 60.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Samsara

Large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its holdings in Samsara by 9.4% in the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock worth $123,000 after buying an additional 280 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Samsara by 3.5% during 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. UMB Bank n.a. lifted its position in shares of Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after purchasing an additional 418 shares during the last quarter. Resources Management Corp CT ADV boosted its position in shares of Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after acquiring an additional 490 shares during the period. Finally, Cetera Advisors LLC raised its stake in Samsara by 6.8% during the 1st quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock valued at $295,000 after purchasing an additional 497 shares during the last quarter. 89.39% of the stock is owned by institutional investors and hedge funds.

Samsara Company Profile

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.