Symbotic (NASDAQ:SYM) Insider Maria Freve Sells 2,265 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider Maria Freve sold 2,265 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $38.25, for a total value of $86,636.25. Following the transaction, the insider directly owned 5,676 shares in the company, valued at $217,107. This trade represents a 28.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Symbotic Stock Down 0.0%

NASDAQ SYM opened at $38.97 on Thursday. The stock has a market cap of $23.57 billion, a PE ratio of 433.00, a P/E/G ratio of 3.71 and a beta of 1.97. Symbotic Inc. has a fifty-two week low of $36.47 and a fifty-two week high of $87.88. The business has a 50 day moving average price of $41.48 and a two-hundred day moving average price of $48.53.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). The firm had revenue of $720.84 million during the quarter, compared to analyst estimates of $715.03 million. Symbotic had a net margin of 0.48% and a return on equity of 1.40%. The firm’s revenue was up 21.7% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS. Sell-side analysts anticipate that Symbotic Inc. will post 0.21 EPS for the current fiscal year.

More Symbotic News

Here are the key news stories impacting Symbotic this week:

• Positive Sentiment: Coverage of Symbotic’s growth with Walmart highlights how major “anchor customers” can help robotics companies scale deployments and establish recurring expansion opportunities. What Symbotic’s Walmart growth teaches robotics startups about anchor customers
• Neutral Sentiment: Analyst opinions remain divided. Symbotic has a consensus rating of “Hold,” with seven Buy, five Hold and two Sell ratings; the consensus price target of $65.83 remains well above the recent trading range, although TD Cowen lowered its target to $70 while maintaining a Buy rating. Symbotic Inc. Stock Rated Hold by Wall Street Analysts
• Negative Sentiment: Several insiders reported stock sales, including CFO Izilda Martins, SVP Brian Alexander, CTO James Kuffner, insider Maria Freve and William Boyd III. The largest disclosed transactions were Alexander’s sale of 9,225 shares and Kuffner’s sale of 19,201 shares. Because the filings state that the shares were sold to meet tax-withholding obligations, they do not necessarily indicate declining confidence; however, the cluster of sales could pressure investor sentiment.
• Negative Sentiment: Symbotic continues to trade below its 50-day and 200-day moving averages after a sharp retreat from its 52-week high. Its elevated valuation and prior earnings miss also leave investors sensitive to execution and profitability concerns, despite revenue growth.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Needham & Company LLC decreased their target price on shares of Symbotic from C$75.00 to C$60.00 and set a “buy” rating for the company in a research note on Tuesday, September 15th. Barclays dropped their price target on shares of Symbotic from $44.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 8th. TD Cowen cut their price objective on shares of Symbotic from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Finally, Robert W. Baird set a $51.00 price objective on shares of Symbotic in a research report on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Symbotic currently has a consensus rating of “Hold” and a consensus target price of $65.83.

Hedge Funds Weigh In On Symbotic

A number of institutional investors have recently made changes to their positions in the business. Concurrent Investment Advisors LLC boosted its stake in shares of Symbotic by 5.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,811 shares of the company’s stock valued at $261,000 after buying an additional 287 shares during the last quarter. Toth Financial Advisory Corp grew its position in shares of Symbotic by 88.7% during the third quarter. Toth Financial Advisory Corp now owns 632 shares of the company’s stock worth $27,000 after buying an additional 297 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Symbotic by 5.4% during the first quarter. International Assets Investment Management LLC now owns 5,844 shares of the company’s stock worth $320,000 after buying an additional 300 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Symbotic by 7.2% during the second quarter. QRG Capital Management Inc. now owns 5,100 shares of the company’s stock worth $229,000 after buying an additional 344 shares in the last quarter. Finally, IAG Wealth Partners LLC increased its stake in shares of Symbotic by 29.4% in the first quarter. IAG Wealth Partners LLC now owns 1,752 shares of the company’s stock worth $93,000 after buying an additional 398 shares during the last quarter.

Symbotic Company Profile

Symbotic Inc is an automation technology company that develops artificial intelligence-enabled robotics and software for supply chain and warehouse operations. Its systems are designed to automate the movement, storage, retrieval and replenishment of pallets and cases within large distribution centers, helping customers manage inventory and fulfill orders more efficiently.

The company’s platform combines mobile robots, automated storage and retrieval systems, robotic palletizing and depalletizing equipment, and warehouse-control software.