Key Points
- William Boyd III, a Symbotic insider, sold 5,115 shares on April 1 at an average price of $55.99 for about $286,389 under a pre-arranged Rule 10b5-1 plan, reducing his holding to 61,679 shares (a 7.66% decrease).
- Symbotic reported Q4 EPS of $0.02 versus estimates of $0.08 despite revenue rising 29.4% to $629.99M; the stock trades below its 200-day SMA ($61.09) and carries mixed analyst ratings with an average "Hold" and a consensus target of $64.62.
Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Charles Kane sold 2,000 shares of Symbotic stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $53.74, for a total transaction of $107,480.00. Following the transaction, the director directly owned 89,852 shares in the company, valued at approximately $4,828,646.48. This represents a 2.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Charles Kane also recently made the following trade(s):
- On Monday, March 9th, Charles Kane sold 4,000 shares of Symbotic stock. The stock was sold at an average price of $47.86, for a total value of $191,440.00.
Symbotic Price Performance
SYM stock opened at $53.37 on Friday. The firm has a market cap of $32.14 billion, a PE ratio of -533.65, a P/E/G ratio of 5.35 and a beta of 2.10. The business has a 50 day moving average of $53.96 and a 200-day moving average of $61.09. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $87.88.
Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.06). Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The business had revenue of $629.99 million for the quarter, compared to the consensus estimate of $622.58 million. During the same quarter last year, the business posted ($0.03) earnings per share. The business's revenue was up 29.4% compared to the same quarter last year. On average, research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. UBS Group set a $70.00 price target on shares of Symbotic in a report on Wednesday, February 18th. DA Davidson raised their price objective on shares of Symbotic from $53.00 to $57.00 and gave the stock a "neutral" rating in a report on Monday, February 9th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Symbotic in a research report on Thursday, January 22nd. Needham & Company LLC boosted their target price on shares of Symbotic from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, February 5th. Finally, Wall Street Zen downgraded shares of Symbotic from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $64.62.
Read Our Latest Stock Analysis on SYM
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. MAI Capital Management grew its stake in shares of Symbotic by 833.3% during the 3rd quarter. MAI Capital Management now owns 560 shares of the company's stock worth $30,000 after acquiring an additional 500 shares during the period. Parkside Financial Bank & Trust raised its stake in Symbotic by 100.0% in the 4th 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 period. Quarry LP bought a new stake in Symbotic in the 4th quarter valued at about $36,000. Parallel Advisors LLC lifted its holdings in Symbotic by 67.3% during the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company's stock valued at $37,000 after purchasing an additional 249 shares during the last quarter. Finally, Ameriflex Group Inc. lifted its holdings in Symbotic by 1,500.0% during the third quarter. Ameriflex Group Inc. now owns 704 shares of the company's stock valued at $38,000 after purchasing an additional 660 shares during the last quarter.
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
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
