Symbotic (NASDAQ:SYM) Director Sells $191,440.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Charles Kane sold 4,000 shares of Symbotic stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $47.86, for a total value of $191,440.00. Following the completion of the sale, the director directly owned 89,852 shares in the company, valued at $4,300,316.72. This represents a 4.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Symbotic Trading Down 2.3%

NASDAQ SYM opened at $49.43 on Friday. The stock has a market capitalization of $29.77 billion, a price-to-earnings ratio of -494.25, a PEG ratio of 5.07 and a beta of 2.13. The business’s 50 day moving average is $58.68 and its two-hundred day moving average is $60.67. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $87.88.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing the consensus estimate 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 business had revenue of $629.99 million during the quarter, compared to analyst estimates of $622.58 million. During the same period in the prior year, the business earned ($0.03) earnings per share. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. Equities analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Northcoast Research lowered shares of Symbotic from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 25th. Barclays increased their price target on shares of Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Monday, January 12th. Citigroup reiterated an “outperform” rating on shares of Symbotic in a research note on Thursday, February 5th. The Goldman Sachs Group reissued a “sell” rating and set a $50.00 price objective on shares of Symbotic in a report on Thursday, January 15th. Finally, Needham & Company LLC upped their target price on shares of Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Symbotic currently has an average rating of “Hold” and an average price target of $60.57.

Institutional Trading of Symbotic

Several large investors have recently bought and sold shares of the company. MAI Capital Management raised its stake in shares of Symbotic by 833.3% during the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after buying an additional 500 shares during the last quarter. IAG Wealth Partners LLC purchased a new stake in shares of Symbotic in the 2nd quarter worth about $32,000. Parkside Financial Bank & Trust boosted its position in shares of Symbotic by 100.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after buying an additional 268 shares in the last quarter. Quarry LP purchased a new stake in shares of Symbotic in the 4th quarter worth about $36,000. Finally, Parallel Advisors LLC grew its stake in Symbotic by 67.3% in the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after acquiring an additional 249 shares during the last quarter.

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.