Investors Purchase High Volume of Samsara Call Options (NYSE:IOT)

Key Points

• Samsara Inc. experienced a significant spike in options trading, with traders acquiring 28,367 call options, marking a 347% increase from typical volumes.
• Research firms have mixed ratings on Samsara, with price targets ranging from $45.00 to $56.00, while the average target price stands at $50.64.
• For its recent quarter, Samsara reported an EPS of $0.11, exceeding expectations, alongside a year-over-year revenue growth of 30.7%.

Samsara Inc. (NYSE:IOT - Get Free Report) was the target of unusually large options trading on Monday. Stock investors purchased 28,367 call options on the company. Thisisanincreaseofapproximately347% compared to the typical daily volume of 6,352 call options.

Insider Buying and Selling

In other Samsara news, insider John Bicket sold 45,952 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $38.67, for a total transaction of $1,776,963.84. Following the completion of the sale, the insider directly owned 1,395,347 shares in the company, valued at $53,958,068.49. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sanjit Biswas sold 35,842 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $38.63, for a total value of $1,384,576.46. Following the completion of the transaction, the insider owned 978,902 shares of the company's stock, valued at $37,814,984.26. The trade was a 3.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,691,872 shares of company stock valued at $111,982,470 over the last 90 days. 46.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Jennison Associates LLC increased its holdings 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 during the period. FMR LLC increased its holdings 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. Vanguard Group Inc. increased its holdings in shares of Samsara by 12.0% in 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 period. Norges Bank bought a new position in shares of Samsara in the fourth quarter worth $106,274,000. Finally, Baillie Gifford & Co. increased its holdings 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 purchasing an additional 2,348,101 shares during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IOT shares. Evercore ISI set a $45.00 price objective on Samsara in a report on Wednesday, June 25th. Wells Fargo & Company raised their target price on Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Morgan Stanley reduced their target price on Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Wall Street Zen downgraded Samsara from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, BMO Capital Markets raised their target price on Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $50.64.

Samsara Trading Down 1.3%

Shares of IOT stock traded down $0.49 during trading hours on Thursday, hitting $38.04. 2,657,794 shares of the company were exchanged, compared to its average volume of 4,657,099. The firm has a fifty day simple moving average of $40.86 and a 200 day simple moving average of $43.03. Samsara has a 52-week low of $31.40 and a 52-week high of $61.90. The stock has a market capitalization of $21.65 billion, a price-to-earnings ratio of -172.89 and a beta of 1.63.

Samsara (NYSE:IOT - Get Free Report) last issued its quarterly 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 net margin of 9.04% and a negative return on equity of 11.14%. The company had revenue of $366.88 million during the quarter, compared to analyst estimates of $351.44 million. During the same quarter last year, the business posted $0.03 EPS. Samsara's quarterly revenue was up 30.7% compared to the same quarter last year. Sell-side analysts anticipate 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.