Insider Selling: Symbotic (NASDAQ:SYM) CTO Sells $208,545.96 in Stock

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 3,669 shares of Symbotic stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $56.84, for a total transaction of $208,545.96. Following the sale, the chief technology officer owned 151,061 shares in the company, valued at approximately $8,586,307.24. This represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

James Kuffner also recently made the following trade(s):

• On Monday, January 26th, James Kuffner sold 77,321 shares of Symbotic stock. The shares were sold at an average price of $59.76, for a total transaction of $4,620,702.96.

Symbotic Trading Down 4.6%

SYM stock opened at $54.78 on Friday. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $87.88. The company has a market capitalization of $32.99 billion, a price-to-earnings ratio of -547.75, a price-to-earnings-growth ratio of 5.76 and a beta of 2.13. The firm’s 50-day moving average is $60.34 and its two-hundred day moving average is $60.50.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.06). Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The company had revenue of $629.99 million during the quarter, compared to the consensus estimate of $622.58 million. During the same quarter last year, the business earned ($0.03) earnings per share. The company’s revenue was up 29.4% on a year-over-year basis. On average, equities research analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Symbotic

Several hedge funds have recently modified their holdings of the stock. Centerpoint Advisors LLC increased its stake in Symbotic by 16.7% in the 3rd quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock worth $75,000 after purchasing an additional 200 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its stake in Symbotic by 5.2% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,493 shares of the company’s stock valued at $267,000 after buying an additional 224 shares in the last quarter. Barton Investment Management boosted its holdings in shares of Symbotic by 0.8% in the fourth quarter. Barton Investment Management now owns 30,658 shares of the company’s stock worth $1,824,000 after buying an additional 233 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Symbotic by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,375 shares of the company’s stock worth $677,000 after acquiring an additional 236 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after acquiring an additional 249 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a research note on Tuesday, November 25th. Needham & Company LLC lifted their target price on Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. UBS Group set a $70.00 price target on shares of Symbotic in a research report on Wednesday, February 18th. Oppenheimer restated an “outperform” rating and set a $83.00 price objective on shares of Symbotic in a research report on Tuesday, November 25th. Finally, Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.57.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.