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

Samsara Inc. (NYSE:IOT - Get Free Report) was the target of unusually large options trading on Friday. Investors purchased 14,545 put options on the stock. This represents an increase of approximately 98% compared to the average daily volume of 7,355 put options.

Samsara Price Performance

Samsara stock traded down $1.57 during mid-day trading on Friday, hitting $46.22. The company's stock had a trading volume of 2,970,600 shares, compared to its average volume of 3,605,342. The business has a 50 day moving average price of $46.53 and a 200-day moving average price of $39.49. Samsara has a 12 month low of $22.19 and a 12 month high of $51.53. The stock has a market cap of $25.71 billion, a price-to-earnings ratio of -96.29 and a beta of 1.52.

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

Insider Buying and Selling

In other Samsara news, insider Adam Eltoukhy sold 12,500 shares of the firm's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $45.00, for a total transaction of $562,500.00. Following the transaction, the insider now directly owns 465,967 shares in the company, valued at approximately $20,968,515. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Adam Eltoukhy sold 12,500 shares of the company's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $45.00, for a total value of $562,500.00. Following the completion of the transaction, the insider now directly owns 465,967 shares of the company's stock, valued at $20,968,515. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Bicket sold 81,486 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $37.04, for a total transaction of $3,018,241.44. Following the sale, the insider now owns 96,000 shares of the company's stock, valued at $3,555,840. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,879,269 shares of company stock worth $83,386,415. 60.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Samsara

Hedge funds and other institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. lifted its holdings in Samsara by 18.1% in the second quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company's stock worth $924,499,000 after buying an additional 4,207,974 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Samsara by 18.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company's stock worth $666,584,000 after acquiring an additional 2,797,326 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Samsara by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company's stock valued at $646,253,000 after purchasing an additional 1,841,149 shares during the period. 1832 Asset Management L.P. boosted its position in shares of Samsara by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company's stock valued at $273,930,000 after purchasing an additional 500,400 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in Samsara by 12.2% in the first quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company's stock worth $84,225,000 after purchasing an additional 243,170 shares in the last quarter. Institutional investors own 89.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IOT shares. Piper Sandler boosted their price objective on shares of Samsara from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday, September 6th. Truist Financial increased their price objective on Samsara from $35.00 to $40.00 and gave the stock a "hold" rating in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on Samsara from $37.00 to $40.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. Morgan Stanley raised their price target on Samsara from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, September 6th. Finally, Evercore ISI boosted their price objective on Samsara from $40.00 to $42.00 and gave the stock an "in-line" rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $44.20.

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.