Symbotic (NASDAQ:SYM) CTO Sells $4,620,702.96 in Stock

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 77,321 shares of the business’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $59.76, for a total transaction of $4,620,702.96. Following the sale, the chief technology officer owned 144,982 shares of the company’s stock, valued at $8,664,124.32. This trade represents a 34.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

James Kuffner also recently made the following trade(s):

• On Wednesday, November 26th, James Kuffner sold 8,348 shares of Symbotic stock. The stock was sold at an average price of $81.30, for a total transaction of $678,692.40.

Symbotic Price Performance

Shares of SYM traded down $0.46 during mid-day trading on Tuesday, hitting $58.99. The stock had a trading volume of 2,506,863 shares, compared to its average volume of 1,702,666. The firm has a market cap of $34.89 billion, a P/E ratio of -393.27, a PEG ratio of 17.61 and a beta of 2.13. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $87.88. The business has a fifty day moving average price of $64.51 and a 200-day moving average price of $60.10.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, November 24th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The business had revenue of $618.46 million during the quarter, compared to the consensus estimate of $604.00 million. Symbotic had a negative return on equity of 3.89% and a negative net margin of 0.75%.Symbotic’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. As a group, research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SYM shares. Northland Securities increased their price target on Symbotic from $56.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. DA Davidson reiterated a “neutral” rating and set a $47.00 price objective on shares of Symbotic in a research report on Tuesday, November 25th. The Goldman Sachs Group reissued a “sell” rating and set a $50.00 price target on shares of Symbotic in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Symbotic in a research report on Thursday. Finally, Cantor Fitzgerald upped their target price on Symbotic from $60.00 to $82.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.79.

Hedge Funds Weigh In On Symbotic

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Symbotic by 2.1% during the third quarter. Vanguard Group Inc. now owns 4,695,021 shares of the company’s stock valued at $253,062,000 after purchasing an additional 98,384 shares during the last quarter. UBS Group AG increased its holdings in Symbotic by 22.3% in the 3rd quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock valued at $59,601,000 after buying an additional 201,547 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Symbotic by 23.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 726,411 shares of the company’s stock worth $47,122,000 after purchasing an additional 136,111 shares during the last quarter. ARK Investment Management LLC lifted its position in Symbotic by 32.4% during the 3rd quarter. ARK Investment Management LLC now owns 589,887 shares of the company’s stock worth $31,795,000 after buying an additional 144,389 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Symbotic by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 551,216 shares of the company’s stock valued at $21,419,000 after purchasing an additional 4,892 shares during 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.