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

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 3,878 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $53.51, for a total transaction of $207,511.78. Following the completion of the transaction, the chief technology officer directly owned 185,126 shares in the company, valued at $9,906,092.26. This trade represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 shares were sold at an average price of $59.82, for a total transaction of $1,180,188.78.

Symbotic Price Performance

NASDAQ SYM opened at $46.42 on Friday. The firm’s fifty day moving average price is $54.26 and its 200 day moving average price is $58.24. The company has a market capitalization of $27.98 billion, a price-to-earnings ratio of -928.21, a price-to-earnings-growth ratio of 7.20 and a beta of 2.03. Symbotic Inc. has a 12 month low of $27.26 and a 12 month high of $87.88.

Symbotic (NASDAQ:SYM) last posted its 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 company had revenue of $676.48 million during the quarter, compared to analysts’ expectations of $662.66 million. During the same period last year, the business earned ($0.04) earnings per share. The company’s quarterly revenue was up 23.1% on a year-over-year basis. As a group, sell-side analysts forecast that Symbotic Inc. will post 0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. DA Davidson reissued a “buy” rating and set a $70.00 price objective on shares of Symbotic in a research report on Monday, May 11th. Weiss Ratings downgraded shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Citigroup reissued an “outperform” rating on shares of Symbotic in a research report on Thursday, February 5th. UBS Group set a $70.00 price objective on shares of Symbotic in a research report on Wednesday, February 18th. Finally, Zacks Research raised shares of 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 assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $65.23.

Institutional Trading of Symbotic

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MAI Capital Management raised its position in Symbotic by 833.3% during the third quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after acquiring an additional 268 shares during the last quarter. Quarry LP acquired a new position in Symbotic during the fourth quarter worth about $36,000. Parallel Advisors LLC grew its holdings in shares of Symbotic by 67.3% during the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after buying an additional 249 shares in the last quarter. Finally, Ameriflex Group Inc. lifted its stake in Symbotic by 1,500.0% during the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock valued at $38,000 after buying an additional 660 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.