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

Samsara Inc. (NYSE:IOT) was the recipient of some unusual options trading on Monday. Traders acquired 10,215 put options on the stock. This is an increase of 39% compared to the average volume of 7,349 put options.

Analyst Ratings Changes

Several research analysts have weighed in on IOT shares. BMO Capital Markets upped their target price on Samsara from $44.00 to $57.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Morgan Stanley upped their target price on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Piper Sandler upped their target price on Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Royal Bank of Canada upped their target price on Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Loop Capital upped their target price on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Samsara currently has a consensus rating of “Hold” and an average target price of $51.67.

Insider Activity at Samsara

In related news, Director Jonathan Chadwick sold 22,500 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $45.37, for a total transaction of $1,020,825.00. Following the transaction, the director now directly owns 396,079 shares of the company’s stock, valued at approximately $17,970,104.23. The trade was a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sanjit Biswas sold 118,589 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $49.15, for a total value of $5,828,649.35. Following the transaction, the insider now directly owns 126,000 shares in the company, valued at $6,192,900. The trade was a 48.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,244,520 shares of company stock valued at $58,644,560. Company insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its stake in Samsara by 4.7% during the 3rd quarter. State Street Corp now owns 2,125,584 shares of the company’s stock valued at $102,283,000 after purchasing an additional 95,006 shares during the period. HighTower Advisors LLC boosted its stake in Samsara by 193.4% during the 3rd quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock valued at $2,981,000 after purchasing an additional 40,833 shares during the period. Swiss National Bank boosted its stake in Samsara by 3.1% during the 3rd quarter. Swiss National Bank now owns 615,600 shares of the company’s stock valued at $29,623,000 after purchasing an additional 18,400 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in Samsara during the 4th quarter valued at approximately $422,000. Finally, International Assets Investment Management LLC boosted its stake in Samsara by 2,787.2% during the 3rd quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock valued at $521,000 after purchasing an additional 10,452 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

Samsara Stock Performance

Shares of NYSE IOT opened at $44.18 on Wednesday. The firm has a market cap of $24.80 billion, a price-to-earnings ratio of -94.01 and a beta of 1.61. The business’s 50-day simple moving average is $49.32 and its 200-day simple moving average is $48.37. Samsara has a 52 week low of $27.14 and a 52 week high of $61.90.

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.