Key Points
- Symbotic CTO James Kuffner sold 3,878 shares on May 26 at an average price of $53.51, worth about $207,512. The sale was filed with the SEC and was made to cover tax withholding tied to vesting equity awards.
- Kuffner previously sold 19,729 shares on April 24, showing a pattern of recent insider selling. After the latest trade, he still held 185,126 shares valued at about $9.9 million.
- Symbotic’s latest earnings were mixed: revenue rose 23.1% year over year to $676.48 million, but EPS came in at $0.01, missing estimates of $0.12. Analysts currently assign the stock an average Hold rating with a $65.23 price target.
Symbotic Inc. (NASDAQ:SYM - Get Free Report) CTO James Kuffner sold 3,878 shares of Symbotic stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.51, for a total transaction of $207,511.78. Following the transaction, the chief technology officer owned 185,126 shares of the company's stock, valued at $9,906,092.26. The trade was a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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, April 24th, James Kuffner sold 19,729 shares of Symbotic stock. The shares were sold at an average price of $59.82, for a total transaction of $1,180,188.78.
Symbotic Stock Performance
SYM stock opened at $53.63 on Thursday. The firm has a 50 day moving average price of $54.41 and a 200-day moving average price of $58.47. Symbotic Inc. has a 52-week low of $27.26 and a 52-week high of $87.88. The firm has a market capitalization of $32.32 billion, a price-to-earnings ratio of -1,072.39, a PEG ratio of 7.80 and a beta of 2.03.
Symbotic (NASDAQ:SYM - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.11). Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The business had revenue of $676.48 million for the quarter, compared to analysts' expectations of $662.66 million. During the same quarter in the previous year, the business posted ($0.04) earnings per share. Symbotic's revenue for the quarter was up 23.1% on a year-over-year basis. As a group, sell-side analysts forecast that Symbotic Inc. will post 0.23 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Symbotic
A number of large investors have recently added to or reduced their stakes in SYM. Royal Bank of Canada grew its position in Symbotic by 28.8% in the 1st quarter. Royal Bank of Canada now owns 84,856 shares of the company's stock worth $1,714,000 after purchasing an additional 18,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Symbotic by 15.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company's stock worth $1,716,000 after purchasing an additional 11,098 shares during the period. Russell Investments Group Ltd. bought a new stake in Symbotic in the 2nd quarter worth approximately $804,000. Invesco Ltd. grew its position in Symbotic by 33.2% in the 2nd quarter. Invesco Ltd. now owns 304,207 shares of the company's stock worth $11,818,000 after purchasing an additional 75,828 shares during the period. Finally, Cresset Asset Management LLC bought a new stake in Symbotic in the 2nd quarter worth approximately $267,000.
Analyst Ratings Changes
A number of equities analysts recently weighed in on SYM shares. DA Davidson restated a "buy" rating and issued a $70.00 price objective on shares of Symbotic in a report on Monday, May 11th. Wall Street Zen lowered shares of Symbotic from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Needham & Company LLC boosted their price objective on shares of Symbotic from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, February 5th. Barclays boosted their price objective on shares of Symbotic from $42.00 to $44.00 and gave the stock an "underweight" rating in a report on Monday, March 16th. Finally, The Goldman Sachs Group decreased their price objective on shares of Symbotic from $54.00 to $45.00 and set a "sell" rating for the company in a report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Symbotic presently has an average rating of "Hold" and an average price target of $65.23.
View Our Latest Analysis on Symbotic
About Symbotic
(
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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