James Kuffner Sells 3,669 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 3,669 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $56.84, for a total value of $208,545.96. Following the sale, the chief technology officer owned 151,061 shares of the company’s stock, valued at $8,586,307.24. This trade represents a 2.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, January 26th, James Kuffner sold 77,321 shares of Symbotic stock. The shares were sold at an average price of $59.76, for a total value of $4,620,702.96.

Symbotic Price Performance

SYM opened at $57.42 on Friday. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $87.88. The company has a market capitalization of $34.58 billion, a price-to-earnings ratio of -574.14, a P/E/G ratio of 5.63 and a beta of 2.13. The firm’s fifty day moving average price is $60.42 and its two-hundred day moving average price is $60.47.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The firm had revenue of $629.99 million for the quarter, compared to the consensus estimate of $622.58 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. As a group, equities analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current year.

Institutional Trading of Symbotic

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of Symbotic by 28.8% during the 1st quarter. Royal Bank of Canada now owns 84,856 shares of the company’s stock worth $1,714,000 after acquiring an additional 18,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Symbotic by 15.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company’s stock valued at $1,716,000 after purchasing an additional 11,098 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Symbotic during the second quarter worth about $5,504,000. Teacher Retirement System of Texas purchased a new position in shares of Symbotic in the second quarter worth about $284,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Symbotic by 57.7% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 36,527 shares of the company’s stock valued at $1,419,000 after purchasing an additional 13,369 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SYM shares. Wall Street Zen raised Symbotic from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. TD Cowen reissued a “buy” rating on shares of Symbotic in a research report on Wednesday, December 3rd. Citigroup restated an “outperform” rating on shares of Symbotic in a research note on Thursday, February 5th. UBS Group set a $70.00 target price on Symbotic in a research note on Wednesday, February 18th. Finally, Cantor Fitzgerald boosted their price target on shares of Symbotic from $60.00 to $82.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Symbotic currently has a consensus rating of “Hold” and an average price target of $60.57.

About Symbotic

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.