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

Samsara Inc. (NYSE:IOT) was the target of some unusual options trading on Monday. Stock traders acquired 19,815 put options on the company. This represents an increase of approximately 138% compared to the average daily volume of 8,343 put options.

Samsara Price Performance

NYSE:IOT opened at $46.82 on Wednesday. Samsara has a 12 month low of $27.14 and a 12 month high of $57.51. The firm has a market capitalization of $26.05 billion, a PE ratio of -99.62 and a beta of 1.53. The business’s fifty day moving average price is $50.44 and its 200 day moving average price is $42.89.

Insider Buying and Selling at Samsara

In other news, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $45.92, for a total transaction of $5,160,489.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Sanjit Biswas sold 83,333 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $53.81, for a total value of $4,484,148.73. Following the completion of the transaction, the insider now directly owns 19,200 shares of the company’s stock, valued at $1,033,152. The trade was a 81.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,375,296 shares of company stock worth $69,075,725. Insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IOT. Resources Management Corp CT ADV increased its position in shares of Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Samsara during the 3rd quarter worth approximately $34,000. National Bank of Canada FI acquired a new position in Samsara during the second quarter worth approximately $38,000. Nemes Rush Group LLC purchased a new stake in Samsara in the second quarter valued at approximately $45,000. Finally, Continuum Advisory LLC boosted its holdings in shares of Samsara by 39.1% in the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after acquiring an additional 247 shares during the period. 96.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IOT has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their price target on Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Truist Financial increased their target price on shares of Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, November 18th. BMO Capital Markets boosted their price target on shares of Samsara from $44.00 to $57.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Bank of America increased their price objective on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Craig Hallum started coverage on Samsara in a report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Samsara presently has an average rating of “Hold” and an average target price of $51.29.

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.