Key Points
- Director Charles Kane sold 4,000 shares on March 9 at an average price of $47.86 for $191,440, leaving him with 89,852 shares (a 4.26% decline in his holdings).
- Symbotic missed EPS for the quarter ($0.02 vs. $0.08 consensus) but reported revenue of $629.99M, up 29.4% year-over-year and slightly above estimates of $622.58M.
- The stock traded at $50.33 (down ~1.3%), sits below its 50- and 200-day moving averages (~$59–61), has a market cap of $30.31B and a negative PE, and carries a MarketBeat consensus rating of "Hold" with a $60.57 price target amid mixed analyst views.
Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Todd Krasnow sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $47.70, for a total value of $95,400.00. The sale was disclosed in a filing with the SEC, which is available through this link.
Todd Krasnow also recently made the following trade(s):
- On Monday, February 2nd, Todd Krasnow sold 4,000 shares of Symbotic stock. The stock was sold at an average price of $53.73, for a total transaction of $214,920.00.
- On Monday, January 5th, Todd Krasnow sold 4,000 shares of Symbotic stock. The shares were sold at an average price of $68.63, for a total value of $274,520.00.
Symbotic Stock Down 2.0%
Shares of Symbotic stock traded down $1.02 on Thursday, reaching $49.99. 257,079 shares of the stock were exchanged, compared to its average volume of 1,864,256. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $87.88. The firm has a market capitalization of $30.10 billion, a price-to-earnings ratio of -497.55, a PEG ratio of 5.00 and a beta of 2.13. The business has a 50 day moving average price of $59.17 and a two-hundred day moving average price of $60.72.
Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.06). Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The company had revenue of $629.99 million during the quarter, compared to analyst estimates of $622.58 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The company's revenue was up 29.4% compared to the same quarter last year. Research analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on SYM shares. TD Cowen restated a "buy" rating on shares of Symbotic in a research report on Wednesday, December 3rd. Northcoast Research lowered Symbotic from a "buy" rating to a "neutral" rating in a research report on Tuesday, November 25th. Northland Securities set a $73.00 price objective on Symbotic in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Symbotic from $55.00 to $63.00 and gave the company a "hold" rating in a research note on Tuesday, November 25th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $83.00 price target on shares of Symbotic in a research note on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $60.57.
Read Our Latest Analysis on Symbotic
Hedge Funds Weigh In On Symbotic
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV raised its stake in Symbotic by 32.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,435 shares of the company's stock valued at $502,000 after purchasing an additional 2,056 shares during the period. NewEdge Advisors LLC boosted its holdings in Symbotic by 278.4% in the 4th quarter. NewEdge Advisors LLC now owns 9,711 shares of the company's stock valued at $578,000 after purchasing an additional 7,145 shares during the period. Twinbeech Capital LP bought a new stake in shares of Symbotic in the 4th quarter worth approximately $1,515,000. Polymer Capital Management US LLC acquired a new stake in shares of Symbotic during the 4th quarter valued at about $279,000. Finally, Readystate Asset Management LP acquired a new position in Symbotic during the fourth quarter worth $470,000.
Symbotic Company Profile
(
Get Free Report)
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.
Further Reading
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