Stock Traders Purchase High Volume of Call Options on Samsara (NYSE:IOT)

Samsara Inc. (NYSE:IOT) was the recipient of unusually large options trading activity on Thursday. Stock traders bought 19,298 call options on the company. This is an increase of 110% compared to the typical volume of 9,210 call options.

Insider Activity

In other Samsara news, insider Sanjit Biswas sold 160,000 shares of the company’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $38.36, for a total value of $6,137,600.00. Following the transaction, the insider owned 36,000 shares of the company’s stock, valued at $1,380,960. This represents a 81.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Parallel Fund Iv L.P. Ah sold 793,331 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $38.55, for a total transaction of $30,582,910.05. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 3,747,900 shares of company stock valued at $143,785,208. 46.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Samsara

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Samsara by 18.3% during the 2nd quarter. Vanguard Group Inc. now owns 27,803,226 shares of the company’s stock worth $1,106,012,000 after purchasing an additional 4,307,755 shares during the last quarter. Norges Bank purchased a new stake in Samsara during the 2nd quarter worth about $134,950,000. State Street Corp boosted its position in shares of Samsara by 107.8% during the 2nd quarter. State Street Corp now owns 5,611,956 shares of the company’s stock worth $223,244,000 after acquiring an additional 2,910,916 shares in the last quarter. Sands Capital Management LLC increased its holdings in shares of Samsara by 17.2% in the 2nd quarter. Sands Capital Management LLC now owns 19,276,210 shares of the company’s stock valued at $766,808,000 after acquiring an additional 2,833,049 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Samsara by 363.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,181,099 shares of the company’s stock worth $118,496,000 after acquiring an additional 2,494,368 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IOT has been the subject of several recent analyst reports. Evercore ISI set a $50.00 price objective on shares of Samsara and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. BMO Capital Markets reduced their price target on shares of Samsara from $54.00 to $47.00 and set an “outperform” rating for the company in a research report on Friday, September 5th. Wall Street Zen downgraded Samsara from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Samsara in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada boosted their price target on Samsara from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $49.55.

Samsara Price Performance

Shares of NYSE:IOT traded up $0.92 during midday trading on Thursday, reaching $39.93. 3,398,856 shares of the company’s stock were exchanged, compared to its average volume of 4,854,760. The stock has a market cap of $22.91 billion, a price-to-earnings ratio of -249.31 and a beta of 1.61. Samsara has a fifty-two week low of $31.40 and a fifty-two week high of $61.90. The firm’s 50 day simple moving average is $38.27 and its two-hundred day simple moving average is $38.82.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, September 4th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.05. The company had revenue of $391.48 million during the quarter, compared to analyst estimates of $372.22 million. Samsara had a negative net margin of 6.16% and a negative return on equity of 7.53%. Samsara’s revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 earnings per share. Equities research analysts predict that Samsara will post -0.3 earnings per share for the current fiscal 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.