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

Samsara Inc. (NYSE:IOT) was the recipient of unusually large options trading activity on Monday. Investors bought 10,215 put options on the stock. This represents an increase of 39% compared to the typical daily volume of 7,349 put options.

Insiders Place Their Bets

In other news, insider Dominic Phillips sold 20,136 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $50.45, for a total transaction of $1,015,861.20. Following the completion of the sale, the insider now owns 882,664 shares of the company’s stock, valued at $44,530,398.80. This represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sanjit Biswas sold 56,474 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $43.33, for a total transaction of $2,447,018.42. Following the sale, the insider now owns 116,257 shares in the company, valued at approximately $5,037,415.81. The trade was a 32.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,244,520 shares of company stock worth $58,644,560. Company insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. lifted its stake in shares of Samsara by 23.4% during the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after buying an additional 6,411,178 shares during the last quarter. FMR LLC raised its holdings in Samsara by 24.0% in the 4th quarter. FMR LLC now owns 14,743,175 shares of the company’s stock valued at $644,129,000 after acquiring an additional 2,852,575 shares during the period. Jordan Park Trust Co LLC acquired a new stake in Samsara during the fourth quarter worth approximately $112,041,000. Norges Bank bought a new stake in shares of Samsara during the fourth quarter worth approximately $106,274,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Samsara by 107.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock worth $181,045,000 after purchasing an additional 2,148,081 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Samsara Stock Down 3.9 %

NYSE:IOT opened at $45.81 on Tuesday. Samsara has a 12-month low of $27.14 and a 12-month high of $61.90. The stock’s 50 day moving average price is $49.35 and its two-hundred day moving average price is $48.33. The firm has a market capitalization of $25.71 billion, a price-to-earnings ratio of -97.47 and a beta of 1.61.

Analysts Set New Price Targets

A number of research firms recently issued reports on IOT. Truist Financial increased their price objective on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Piper Sandler raised their price target on shares of Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company boosted their price objective on shares of Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their target price on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Raymond James assumed coverage on shares of Samsara in a research report on Wednesday, February 26th. They set a “market perform” rating on the stock. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.67.

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.