Symbotic (NASDAQ:SYM) CFO Sells 7,224 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) CFO Izilda Martins sold 7,224 shares of Symbotic stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $38.93, for a total value of $281,230.32. Following the sale, the chief financial officer owned 42,732 shares of the company’s stock, valued at approximately $1,663,556.76. This represents a 14.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Symbotic Price Performance

NASDAQ:SYM traded down $0.01 during mid-day trading on Wednesday, reaching $38.97. The stock had a trading volume of 2,149,909 shares, compared to its average volume of 1,806,783. The business’s 50 day moving average is $41.48 and its 200 day moving average is $48.53. Symbotic Inc. has a fifty-two week low of $36.47 and a fifty-two week high of $87.88. The stock has a market cap of $23.57 billion, a P/E ratio of 433.00, a PEG ratio of 3.71 and a beta of 1.97.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $720.84 million for the quarter, compared to the consensus estimate of $715.03 million. Symbotic had a net margin of 0.48% and a return on equity of 1.40%. Symbotic’s revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) EPS. Equities analysts expect that Symbotic Inc. will post 0.21 EPS for the current 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 large investors have recently modified their holdings of SYM. GK Wealth Management LLC acquired a new position in Symbotic during the 3rd quarter valued at $26,000. Toth Financial Advisory Corp increased its holdings in shares of Symbotic by 88.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 632 shares of the company’s stock worth $27,000 after purchasing an additional 297 shares during the period. Nykredit A S bought a new position in shares of Symbotic during the 2nd quarter worth about $89,000. IAG Wealth Partners LLC increased its holdings in shares of Symbotic by 29.4% during the 1st quarter. IAG Wealth Partners LLC now owns 1,752 shares of the company’s stock worth $93,000 after purchasing an additional 398 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its position in shares of Symbotic by 115.3% during the first 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 last quarter.

Wall Street Analyst Weigh In

Several equities analysts have commented on SYM shares. Robert W. Baird set a $51.00 target price on shares of Symbotic in a research report on Thursday, August 6th. Needham & Company LLC reduced their price target on 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. Barclays decreased their price target on Symbotic from $44.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, September 8th. Weiss Ratings upgraded Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, September 21st. Finally, Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $65.83.

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.