Symbotic Inc. (NASDAQ:SYM - Get Free Report) major shareholder Svf Sponsor Iii (De) Llc sold 3,500,000 shares of Symbotic stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $53.21, for a total value of $186,235,000.00. Following the sale, the insider owned 5,590,000 shares in the company, valued at $297,443,900. This trade represents a 38.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Symbotic Stock Up 1.3%
Shares of NASDAQ SYM opened at $60.48 on Tuesday. The stock has a market cap of $35.78 billion, a PE ratio of -403.20, a price-to-earnings-growth ratio of 16.94 and a beta of 2.10. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $87.88. The business has a 50-day moving average price of $68.22 and a 200 day moving average price of $53.06.
Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings results on Monday, November 24th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm had revenue of $618.46 million for the quarter, compared to analyst estimates of $604.00 million. Symbotic had a negative return on equity of 3.89% and a negative net margin of 0.75%.The company's quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $0.47 EPS. Sell-side analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current year.
Institutional Trading of Symbotic
Hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers boosted its holdings in shares of Symbotic by 150.5% in the first quarter. Cetera Investment Advisers now owns 61,674 shares of the company's stock valued at $1,246,000 after acquiring an additional 37,053 shares in the last quarter. LPL Financial LLC raised its holdings in Symbotic by 58.8% during the first quarter. LPL Financial LLC now owns 68,531 shares of the company's stock worth $1,385,000 after purchasing an additional 25,364 shares in the last quarter. XTX Topco Ltd acquired a new stake in Symbotic in the first quarter valued at about $324,000. PNC Financial Services Group Inc. boosted its holdings in Symbotic by 54.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,932 shares of the company's stock valued at $120,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new stake in Symbotic in the 1st quarter valued at approximately $716,000.
Wall Street Analysts Forecast Growth
Several research firms recently commented on SYM. Cantor Fitzgerald upped their price target on shares of Symbotic from $60.00 to $82.00 and gave the company an "overweight" rating in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Symbotic from $55.00 to $63.00 and gave the stock a "hold" rating in a research report on Tuesday, November 25th. The Goldman Sachs Group cut shares of Symbotic from a "neutral" rating to a "sell" rating and set a $47.00 target price for the company. in a report on Tuesday, December 2nd. Northland Securities increased their target price on shares of Symbotic from $56.00 to $70.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 25th. Finally, DA Davidson reissued a "neutral" rating and set a $47.00 price target on shares of Symbotic in a report on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $56.50.
Check Out Our Latest Analysis on Symbotic
Symbotic Company Profile
(
Get Free Report)
Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.
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