Samsara Target of Unusually Large Options Trading (NYSE:IOT)

Samsara Inc. (NYSE:IOT) saw some unusual options trading activity on Tuesday. Investors bought 11,841 put options on the company. This represents an increase of 58% compared to the typical daily volume of 7,485 put options.

Insider Activity at Samsara

In related news, insider Adam Eltoukhy sold 11,343 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $39.76, for a total transaction of $450,997.68. Following the sale, the insider now owns 271,922 shares of the company’s stock, valued at approximately $10,811,618.72. This represents a 4.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Bicket sold 33,713 shares of the company’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $46.46, for a total transaction of $1,566,305.98. Following the completion of the transaction, the insider now directly owns 30,745 shares in the company, valued at approximately $1,428,412.70. The trade was a 52.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,298,821 shares of company stock worth $54,837,246. 60.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Samsara

A number of institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. raised its stake in shares of Samsara by 7.1% in the first quarter. Baillie Gifford & Co. now owns 35,277,488 shares of the company’s stock worth $1,352,186,000 after buying an additional 2,348,101 shares during the period. Vanguard Group Inc. lifted its holdings in Samsara by 12.0% during the first quarter. Vanguard Group Inc. now owns 23,495,471 shares of the company’s stock valued at $900,581,000 after purchasing an additional 2,516,882 shares in the last quarter. FMR LLC boosted its position in shares of Samsara by 24.0% in 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 period. Jennison Associates LLC increased its stake in shares of Samsara by 1,881.8% in the first quarter. Jennison Associates LLC now owns 11,763,133 shares of the company’s stock worth $450,881,000 after purchasing an additional 11,169,571 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Samsara by 20.1% during the 1st quarter. Invesco Ltd. now owns 4,174,153 shares of the company’s stock valued at $159,995,000 after buying an additional 697,208 shares in the last quarter. 96.02% of the stock is owned by institutional investors.

Samsara Trading Down 7.7%

IOT stock traded down $3.44 on Tuesday, hitting $41.25. The company had a trading volume of 8,333,893 shares, compared to its average volume of 3,745,614. Samsara has a 12-month low of $27.14 and a 12-month high of $61.90. The stock has a market cap of $23.49 billion, a price-to-earnings ratio of -88.29 and a beta of 1.74. The stock’s 50-day simple moving average is $41.71 and its 200 day simple moving average is $45.22.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on IOT. Craig Hallum reiterated a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Cowen reissued a “buy” rating on shares of Samsara in a report on Friday, March 7th. Royal Bank of Canada reduced their price target on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. 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, Truist Financial dropped their price target on shares of Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

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.