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

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 3,878 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were 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 $9,906,092.26. This trade represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $59.82, for a total value of $1,180,188.78.

Symbotic Trading Up 1.4%

Shares of NASDAQ:SYM opened at $53.63 on Thursday. The stock’s 50-day moving average price is $54.41 and its 200-day moving average price is $58.47. Symbotic Inc. has a 12-month low of $27.26 and a 12-month high of $87.88. The stock has a market capitalization of $32.32 billion, a P/E ratio of -1,072.39, a price-to-earnings-growth ratio of 7.80 and a beta of 2.03.

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

Institutional Trading of Symbotic

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Western Wealth Management LLC purchased a new stake in Symbotic in the first quarter worth about $113,000. Centaurus Financial Inc. lifted its holdings in Symbotic by 62.1% in the first quarter. Centaurus Financial Inc. now owns 2,814 shares of the company’s stock worth $150,000 after buying an additional 1,078 shares during the period. Amundi lifted its holdings in shares of Symbotic by 68.5% during the first quarter. Amundi now owns 108,553 shares of the company’s stock valued at $5,775,000 after purchasing an additional 44,132 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Symbotic by 25.2% during the first quarter. California State Teachers Retirement System now owns 55,871 shares of the company’s stock valued at $2,972,000 after purchasing an additional 11,260 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Symbotic by 41.1% during the first quarter. Royal Bank of Canada now owns 100,018 shares of the company’s stock valued at $5,321,000 after purchasing an additional 29,152 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SYM shares. The Goldman Sachs Group dropped their target price on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a report on Tuesday. DA Davidson reiterated a “buy” rating and set a $70.00 target price on shares of Symbotic in a report on Monday, May 11th. Citigroup reiterated an “outperform” rating on shares of Symbotic in a report on Thursday, February 5th. Northland Securities set a $73.00 target price on shares of Symbotic in a report on Thursday, February 5th. Finally, Needham & Company LLC increased their target price on shares of Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Symbotic has an average rating of “Hold” and an average target price 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.