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

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

Insider Buying and Selling at Samsara

In other news, insider Adam Eltoukhy sold 23,960 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $43.81, for a total value of $1,049,687.60. Following the sale, the insider now owns 331,106 shares in the company, valued at approximately $14,505,753.86. The trade was a 6.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the 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 disclosure for this sale can be found here. Insiders have sold 1,244,520 shares of company stock worth $58,644,560 over the last three months. Company insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on IOT shares. Berenberg Bank started coverage on Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 price target on the stock. Royal Bank of Canada raised their target price on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Piper Sandler upped their price target on shares of Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Samsara presently has an average rating of “Hold” and a consensus target price of $51.67.

Samsara Stock Down 3.9 %

Shares of Samsara stock opened at $45.81 on Tuesday. The business has a fifty day simple moving average of $49.35 and a 200 day simple moving average of $48.33. The stock has a market cap of $25.71 billion, a PE ratio of -97.47 and a beta of 1.61. Samsara has a 12 month low of $27.14 and a 12 month high of $61.90.

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.