Symbotic (NASDAQ:SYM) CTO James Kuffner Sells 3,952 Shares

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 3,952 shares of the business’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 completion of the transaction, the chief technology officer owned 219,858 shares of the company’s stock, valued at $8,924,036.22. The trade was a 1.77% decrease in their ownership of the stock. The sale 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, 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 value of $766,695.06.

Symbotic Trading Up 0.9%

SYM opened at $40.41 on Wednesday. The company’s 50 day moving average is $42.00 and its 200-day moving average is $49.09. Symbotic Inc. has a 1-year low of $38.19 and a 1-year high of $87.88. The company has a market cap of $24.44 billion, a P/E ratio of 449.00, a PEG ratio of 5.38 and a beta of 1.94.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The company had revenue of $720.84 million for the quarter, compared to analyst estimates of $715.03 million. Symbotic had a return on equity of 1.40% and a net margin of 0.48%.Symbotic’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.05) earnings per share. On average, equities analysts forecast that Symbotic Inc. will post 0.25 EPS for the current year.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently modified their holdings of SYM. Parkside Financial Bank & Trust increased its holdings in Symbotic by 100.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock valued at $32,000 after purchasing an additional 268 shares during the period. Quarry LP bought a new stake in shares of Symbotic in the 4th quarter valued at about $36,000. Parallel Advisors LLC grew 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 during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Symbotic in the fourth quarter valued at about $48,000. Finally, NewEdge Advisors LLC increased its stake in shares of Symbotic by 81.5% in the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock valued at $50,000 after buying an additional 573 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SYM shares. DA Davidson reiterated a “buy” rating and issued a $70.00 price target on shares of Symbotic in a research note on Monday, May 11th. Weiss Ratings raised Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group cut 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. Finally, Robert W. Baird set a $51.00 price target on Symbotic in a report on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.