Stock Traders Buy Large Volume of Samsara Put Options (NYSE:IOT)

Samsara Inc. (NYSE:IOT) was the recipient of unusually large options trading activity on Tuesday. Traders bought 11,841 put options on the stock. This represents an increase of approximately 58% compared to the typical volume of 7,485 put options.

Insider Buying and Selling

In related news, insider Dominic Phillips sold 54,134 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $38.60, for a total transaction of $2,089,572.40. Following the sale, the insider now directly owns 638,642 shares of the company’s stock, valued at approximately $24,651,581.20. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sanjit Biswas sold 23,605 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $46.38, for a total transaction of $1,094,799.90. Following the sale, the insider now directly owns 731,789 shares in the company, valued at $33,940,373.82. This trade represents a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,319,355 shares of company stock worth $55,759,017 in the last 90 days. 60.04% of the stock is owned by corporate insiders.

Institutional Trading of Samsara

Several institutional investors have recently modified their holdings of IOT. Jennison Associates LLC lifted its position in shares of Samsara by 1,881.8% during the 1st quarter. Jennison Associates LLC now owns 11,763,133 shares of the company’s stock worth $450,881,000 after buying an additional 11,169,571 shares during the last quarter. FMR LLC grew its holdings in shares of Samsara by 24.0% during the fourth quarter. FMR LLC now owns 14,743,175 shares of the company’s stock worth $644,129,000 after purchasing an additional 2,852,575 shares during the last quarter. Jordan Park Trust Co LLC purchased a new position in shares of Samsara during the fourth quarter worth about $112,041,000. Vanguard Group Inc. grew its holdings in shares of Samsara by 12.0% during the first quarter. Vanguard Group Inc. now owns 23,495,471 shares of the company’s stock worth $900,581,000 after purchasing an additional 2,516,882 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Samsara during the fourth quarter worth about $106,274,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Analysts Set New Price Targets

IOT has been the topic of several recent analyst reports. BMO Capital Markets increased their price objective on shares of Samsara from $48.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, June 2nd. Royal Bank of Canada decreased their price target on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company lifted their target price on shares of Samsara from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. Morgan Stanley lowered their price objective on Samsara from $56.00 to $50.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Finally, Craig Hallum reiterated a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $50.00.

Samsara Stock Down 6.0%

NYSE IOT opened at $42.00 on Wednesday. Samsara has a 52 week low of $27.14 and a 52 week high of $61.90. The stock has a market capitalization of $23.91 billion, a PE ratio of -89.36 and a beta of 1.74. The firm has a 50 day moving average of $41.87 and a two-hundred day moving average of $45.20.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Samsara had a negative net margin of 21.80% and a negative return on equity of 19.44%. The company had revenue of $366.88 million during the quarter, compared to analysts’ expectations of $351.44 million. During the same quarter in the previous year, the business posted $0.03 EPS. The firm’s revenue was up 30.7% on a year-over-year basis. On average, equities research analysts expect that Samsara will post -0.3 earnings per share for the current fiscal year.

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.