Symbotic (NASDAQ:SYM) CFO Izilda Martins Sells 27,463 Shares

Symbotic Inc. (NASDAQ:SYM) CFO Izilda Martins sold 27,463 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $40.80, for a total transaction of $1,120,490.40. Following the completion of the sale, the chief financial officer owned 35,171 shares of the company’s stock, valued at $1,434,976.80. The trade was a 43.85% decrease in their position. The transaction was disclosed in a 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.

Symbotic Stock Performance

Shares of NASDAQ SYM traded down $0.94 during trading on Wednesday, reaching $46.52. The company had a trading volume of 2,007,595 shares, compared to its average volume of 1,861,792. Symbotic Inc. has a 52 week low of $38.19 and a 52 week high of $87.88. The business’s 50 day moving average price is $43.16 and its 200-day moving average price is $51.05. The stock has a market cap of $28.04 billion, a PE ratio of -930.21, a PEG ratio of 6.76 and a beta of 1.94.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $720.84 million for the quarter, compared to the consensus estimate of $715.03 million. Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. Symbotic’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period last year, the company earned ($0.05) earnings per share. Equities analysts anticipate that Symbotic Inc. will post 0.23 earnings per share for the current year.

Hedge Funds Weigh In On Symbotic

Large investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust boosted its stake 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 acquiring an additional 268 shares during the last quarter. Quarry LP acquired a new position in shares of Symbotic in the 4th quarter valued at $36,000. Parallel Advisors LLC boosted 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 worth $37,000 after purchasing an additional 249 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Symbotic during the fourth quarter worth $48,000. Finally, NewEdge Advisors LLC increased its holdings in 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 purchasing an additional 573 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SYM shares. Weiss Ratings lowered Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. DA Davidson restated a “buy” rating and set a $70.00 target price on shares of Symbotic in a research report on Monday, May 11th. 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, Zacks Research cut Symbotic from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Symbotic has an average rating of “Hold” and a consensus price target of $66.50.

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.