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

Samsara Inc. (NYSE:IOT - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock investors bought 11,841 put options on the company. This represents an increase of 58% compared to the average daily volume of 7,485 put options.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Cowen reaffirmed a "buy" rating on shares of Samsara in a research note on Friday, March 7th. Truist Financial cut their target price on Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a research report on Friday, March 7th. Wall Street Zen cut Samsara from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Raymond James started coverage on Samsara in a report on Wednesday, February 26th. They issued a "market perform" rating for the company. Finally, Wells Fargo & Company lifted their target price on Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Samsara currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.00.

Insider Buying and Selling

In related news, insider Sanjit Biswas sold 54,457 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $47.33, for a total value of $2,577,449.81. Following the sale, the insider now directly owns 90,000 shares in the company, valued at $4,259,700. This trade represents a 37.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Chadwick sold 22,500 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.72, for a total value of $871,200.00. Following the transaction, the director now owns 373,579 shares of the company's stock, valued at $14,464,978.88. This trade represents a 5.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,117,407 shares of company stock worth $88,742,507 in the last three months. 60.04% of the stock is owned by insiders.

Institutional Trading of Samsara

Hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC raised its position in Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after buying an additional 414 shares during the period. Keystone Financial Group Inc. grew its stake in Samsara by 300.0% during the 1st quarter. Keystone Financial Group Inc. now owns 600 shares of the company's stock valued at $25,000 after acquiring an additional 450 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Samsara in the 4th quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Samsara in the first quarter worth approximately $31,000. Finally, IFP Advisors Inc boosted its holdings in shares of Samsara by 290.3% during the fourth quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after purchasing an additional 598 shares during the period. Hedge funds and other institutional investors own 96.02% of the company's stock.

Samsara Price Performance

NYSE IOT traded down $1.80 on Thursday, hitting $40.54. 9,469,263 shares of the company were exchanged, compared to its average volume of 3,799,765. Samsara has a twelve month low of $27.14 and a twelve month high of $61.90. The firm has a market capitalization of $23.08 billion, a P/E ratio of -86.26 and a beta of 1.74. The company's 50 day moving average price is $42.04 and its 200-day moving average price is $45.18.

Samsara (NYSE:IOT - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $366.88 million for the quarter, compared to analyst estimates of $351.44 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The firm's revenue was up 30.7% compared to the same quarter last year. As a group, equities analysts expect that Samsara will post -0.3 EPS for the current 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.