James Kuffner Sells 3,878 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 3,878 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.51, for a total value of $207,511.78. Following the transaction, the chief technology officer directly owned 185,126 shares in the company, valued at approximately $9,906,092.26. This represents a 2.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 stock was sold at an average price of $59.82, for a total value of $1,180,188.78.

Symbotic Stock Performance

NASDAQ:SYM opened at $48.81 on Friday. The stock’s fifty day moving average price is $54.33 and its two-hundred day moving average price is $58.32. Symbotic Inc. has a 52-week low of $27.26 and a 52-week high of $87.88. The company has a market cap of $29.42 billion, a price-to-earnings ratio of -976.00, a P/E/G ratio of 7.91 and a beta of 2.03.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.11). Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The firm had revenue of $676.48 million for the quarter, compared to analyst estimates of $662.66 million. During the same period in the prior year, the company posted ($0.04) EPS. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, equities analysts predict that Symbotic Inc. will post 0.23 EPS for the current fiscal year.

Institutional Trading of Symbotic

A number of large investors have recently made changes to their positions in SYM. MAI Capital Management increased its position in shares of Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after buying an additional 500 shares in the last quarter. Parkside Financial Bank & Trust increased 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 valued at $32,000 after buying an additional 268 shares in the last quarter. Quarry LP bought a new stake in shares of Symbotic in the 4th quarter valued at $36,000. Parallel Advisors LLC increased its position in shares of 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 buying an additional 249 shares in the last quarter. Finally, Ameriflex Group Inc. increased its position in shares of Symbotic by 1,500.0% in the 3rd 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.

Analyst Upgrades and Downgrades

SYM has been the subject of several recent research reports. Northland Securities set a $73.00 target price on shares of Symbotic in a research report on Thursday, February 5th. Needham & Company LLC upped their target price on shares of Symbotic from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Wall Street Zen cut shares of Symbotic from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, UBS Group set a $70.00 target price on shares of Symbotic in a research report on Wednesday, February 18th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $65.23.

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.