Symbotic (NASDAQ:SYM) SVP Brian Daniel Alexander Sells 9,225 Shares of Company Stock

Symbotic Inc. (NASDAQ:SYM) SVP Brian Alexander sold 9,225 shares of the company’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $38.26, for a total value of $352,948.50. Following the completion of the transaction, the senior vice president directly owned 66,959 shares in the company, valued at approximately $2,561,851.34. This represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Brian Daniel Alexander also recently made the following trade(s):

• On Tuesday, October 27th, Brian Alexander sold 89 shares of Symbotic stock. The stock was sold at an average price of $38.28, for a total value of $3,406.92.

Symbotic Stock Performance

SYM opened at $38.97 on Thursday. Symbotic Inc. has a fifty-two week low of $36.47 and a fifty-two week high of $87.88. The company has a market capitalization of $23.57 billion, a P/E ratio of 433.00, a P/E/G ratio of 3.71 and a beta of 1.97. The stock has a fifty day moving average of $41.48 and a 200-day moving average of $48.53.

Symbotic (NASDAQ:SYM) last announced its earnings results on Wednesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Symbotic had a net margin of 0.48% and a return on equity of 1.40%. The business had revenue of $720.84 million during the quarter, compared to the consensus estimate of $715.03 million. During the same period in the previous year, the firm posted ($0.05) EPS. The company’s revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts predict that Symbotic Inc. will post 0.21 earnings per share for the current fiscal year.

Symbotic News Summary

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.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. GK Wealth Management LLC bought a new stake in Symbotic during the third quarter worth about $26,000. Toth Financial Advisory Corp grew its stake in 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. Nykredit A S acquired a new stake in Symbotic during the second quarter worth about $89,000. IAG Wealth Partners LLC grew its stake in Symbotic by 29.4% during 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 in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its holdings in Symbotic by 115.3% in the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 1,996 shares of the company’s stock valued at $106,000 after buying an additional 1,069 shares during the period.

Analyst Upgrades and Downgrades

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

About Symbotic

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.