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

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 3,952 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $40.59, for a total transaction of $160,411.68. Following the transaction, the chief technology officer directly owned 219,858 shares in the company, valued at $8,924,036.22. The trade was a 1.77% decrease in their position. The sale was disclosed in a document filed 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 stock was sold at an average price of $40.38, for a total transaction of $766,695.06.

Symbotic Stock Up 0.9%

Shares of SYM stock traded up $0.38 during mid-day trading on Tuesday, hitting $40.41. 1,080,888 shares of the company’s stock were exchanged, compared to its average volume of 1,864,597. The stock has a market cap of $24.44 billion, a price-to-earnings ratio of 444.78, a PEG ratio of 5.38 and a beta of 1.94. Symbotic Inc. has a fifty-two week low of $38.19 and a fifty-two week high of $87.88. The stock has a 50-day simple moving average of $42.00 and a two-hundred day simple moving average of $49.09.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Robert W. Baird set a $51.00 target price on Symbotic in a report on Thursday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Symbotic in a research note on Thursday, August 6th. DA Davidson reiterated a “buy” rating and set a $70.00 target price on shares of Symbotic in a report on Monday, May 11th. Weiss Ratings raised shares of Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Finally, Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.92.

Hedge Funds Weigh In On Symbotic

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Federation des caisses Desjardins du Quebec grew its position in Symbotic by 5.2% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,493 shares of the company’s stock valued at $267,000 after acquiring an additional 224 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Symbotic by 2.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 11,375 shares of the company’s stock worth $677,000 after purchasing an additional 236 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after purchasing an additional 249 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of Symbotic by 4.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,753 shares of the company’s stock valued at $342,000 after purchasing an additional 266 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in Symbotic by 100.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock valued at $32,000 after purchasing an additional 268 shares in the last quarter.

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.