Symbotic (NASDAQ:SYM) CTO Sells $207,511.78 in Stock

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 3,878 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.51, for a total value of $207,511.78. Following the sale, the chief technology officer owned 185,126 shares of the company’s stock, valued at approximately $9,906,092.26. This represents a 2.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, April 24th, James Kuffner sold 19,729 shares of Symbotic stock. The stock was sold at an average price of $59.82, for a total value of $1,180,188.78.

Symbotic Trading Up 1.4%

Shares of SYM traded up $0.76 during trading hours on Wednesday, reaching $53.63. The stock had a trading volume of 1,723,745 shares, compared to its average volume of 1,742,421. The firm has a 50-day simple moving average of $54.41 and a 200 day simple moving average of $58.47. Symbotic Inc. has a 12 month low of $27.26 and a 12 month high of $87.88. The company has a market capitalization of $32.32 billion, a price-to-earnings ratio of -1,072.39, a P/E/G ratio of 7.97 and a beta of 2.03.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The business had revenue of $676.48 million for the quarter, compared to the consensus estimate of $662.66 million. During the same quarter last year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, equities analysts forecast that Symbotic Inc. will post 0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of Symbotic from $42.00 to $44.00 and gave the stock an “underweight” rating in a report on Monday, March 16th. Wall Street Zen downgraded Symbotic from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. UBS Group set a $70.00 price objective on Symbotic in a research note on Wednesday, February 18th. DA Davidson restated a “buy” rating and issued a $70.00 target price on shares of Symbotic in a report on Monday, May 11th. Finally, Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.23.

Hedge Funds Weigh In On Symbotic

A number of hedge funds and other institutional investors have recently modified their holdings of SYM. MAI Capital Management increased its position in shares of Symbotic by 833.3% during the third quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Symbotic by 100.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after purchasing an additional 268 shares during the last quarter. Quarry LP bought a new position in Symbotic in the 4th quarter valued at $36,000. Parallel Advisors LLC increased its position in shares of Symbotic by 67.3% during the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after purchasing an additional 249 shares during the last quarter. Finally, Ameriflex Group Inc. increased its position in shares of Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock valued at $38,000 after purchasing an additional 660 shares during the last quarter.

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.