Symbotic (NASDAQ:SYM) CTO Sells $160,411.68 in Stock

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 3,952 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $40.59, for a total transaction of $160,411.68. Following the sale, the chief technology officer directly owned 219,858 shares of the company’s stock, valued at approximately $8,924,036.22. The trade was a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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, July 24th, James Kuffner sold 18,987 shares of Symbotic stock. The shares were sold at an average price of $40.38, for a total transaction of $766,695.06.

Symbotic Stock Up 1.3%

Shares of Symbotic stock opened at $41.14 on Friday. The firm’s 50 day moving average price is $42.00 and its 200-day moving average price is $48.87. Symbotic Inc. has a 52-week low of $38.19 and a 52-week high of $87.88. The company has a market cap of $24.88 billion, a P/E ratio of 457.11, a PEG ratio of 5.46 and a beta of 1.94.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, August 5th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The firm had revenue of $720.84 million for the quarter, compared to analysts’ expectations of $715.03 million. Symbotic had a net margin of 0.48% and a return on equity of 1.40%. The company’s revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) EPS. As a group, equities research analysts forecast that Symbotic Inc. will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Symbotic

Large investors have recently modified their holdings of the business. Royal Bank of Canada lifted its position in Symbotic by 28.8% during the first quarter. Royal Bank of Canada now owns 84,856 shares of the company’s stock worth $1,714,000 after buying an additional 18,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Symbotic by 15.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company’s stock worth $1,716,000 after acquiring an additional 11,098 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Symbotic during the 2nd quarter worth $804,000. Invesco Ltd. raised its holdings in shares of Symbotic by 33.2% during the 2nd quarter. Invesco Ltd. now owns 304,207 shares of the company’s stock worth $11,818,000 after acquiring an additional 75,828 shares during the period. Finally, Cresset Asset Management LLC acquired a new position in shares of Symbotic during the 2nd quarter valued at about $267,000.

Analyst Ratings Changes

A number of analysts have recently weighed in on SYM shares. Weiss Ratings raised Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. DA Davidson reaffirmed a “buy” rating and set a $70.00 target price on shares of Symbotic in a research report on Monday, May 11th. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price target on shares of Symbotic in a research note on Thursday, August 6th. Robert W. Baird set a $51.00 price target on Symbotic in a report on Thursday, August 6th. Finally, The Goldman Sachs Group dropped their price target on Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a research note on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $65.92.

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.