Symbotic (NASDAQ:SYM) CTO Sells $4,620,702.96 in Stock

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 77,321 shares of Symbotic stock in a transaction on Monday, January 26th. The shares were sold at an average price of $59.76, for a total transaction of $4,620,702.96. Following the completion of the sale, the chief technology officer owned 144,982 shares in the company, valued at approximately $8,664,124.32. This represents a 34.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Wednesday, November 26th, James Kuffner sold 8,348 shares of Symbotic stock. The stock was sold at an average price of $81.30, for a total value of $678,692.40.

Symbotic Stock Down 0.8%

Shares of NASDAQ SYM traded down $0.46 during trading hours on Tuesday, hitting $58.99. 2,506,863 shares of the stock were exchanged, compared to its average volume of 1,702,666. The firm has a fifty day moving average price of $64.51 and a 200-day moving average price of $60.10. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $87.88. The company has a market cap of $34.89 billion, a PE ratio of -393.27, a PEG ratio of 17.61 and a beta of 2.13.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm had revenue of $618.46 million during the quarter, compared to analyst estimates of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. As a group, equities analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. TD Cowen restated a “buy” rating on shares of Symbotic in a report on Wednesday, December 3rd. Wall Street Zen raised shares of Symbotic from a “sell” rating to a “hold” rating in a research report on Sunday, November 30th. Citigroup raised their target price on shares of Symbotic from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Barclays lifted their price target on Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Monday, January 12th. Finally, Robert W. Baird upped their target price on Symbotic from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $56.79.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in Symbotic in the 3rd quarter valued at $34,296,000. Franklin Resources Inc. raised its stake in Symbotic by 3,188.8% in the 3rd quarter. Franklin Resources Inc. now owns 274,155 shares of the company’s stock worth $14,777,000 after purchasing an additional 265,819 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Symbotic by 626.4% during the third quarter. Handelsbanken Fonder AB now owns 274,178 shares of the company’s stock worth $14,778,000 after buying an additional 236,435 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Symbotic in the third quarter valued at about $12,377,000. Finally, UBS Group AG increased its holdings in Symbotic by 22.3% in the 3rd quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock worth $59,601,000 after purchasing an additional 201,547 shares in 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.