Key Points
- Director Charles Kane sold 2,000 Symbotic shares on June 1 at an average price of $45.99, totaling $91,980. The sale was made under a pre-arranged Rule 10b5-1 trading plan, leaving him with 89,852 shares.
- Symbotic’s latest earnings were mixed: the company posted $0.01 EPS, missing estimates of $0.12, but revenue came in at $676.48 million, above expectations and up 23.1% year over year.
- Analyst sentiment remains divided, with a consensus rating of “Hold” and an average price target of $65.23. Recent calls include buy ratings from UBS and DA Davidson, while Goldman Sachs and Weiss Ratings issued bearish views.
Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Charles Kane sold 2,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $45.99, for a total transaction of $91,980.00. Following the completion of the sale, the director directly owned 89,852 shares in the company, valued at approximately $4,132,293.48. This trade represents a 2.18% decrease in their position. The transaction was disclosed in a document filed 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 Friday, May 1st, Charles Kane sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $58.26, for a total transaction of $116,520.00.
- On Wednesday, April 1st, Charles Kane sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $53.74, for a total value of $107,480.00.
- 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
Symbotic stock opened at $47.21 on Thursday. Symbotic Inc. has a one year low of $27.26 and a one year high of $87.88. The business has a fifty day moving average price of $54.08 and a 200-day moving average price of $57.84. The firm has a market capitalization of $28.45 billion, a P/E ratio of -944.01, a PEG ratio of 7.24 and a beta of 1.91.
Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.11). Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The company had revenue of $676.48 million during the quarter, compared to the consensus estimate of $662.66 million. During the same period in the previous year, the business earned ($0.04) earnings per share. Symbotic's revenue was up 23.1% on a year-over-year basis. Sell-side analysts expect that Symbotic Inc. will post 0.23 earnings per share for the current fiscal year.
Institutional Trading of Symbotic
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MAI Capital Management increased its holdings in shares of Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company's stock worth $30,000 after buying an additional 500 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Symbotic by 100.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company's stock worth $32,000 after buying an additional 268 shares during the last quarter. Quarry LP bought a new position in shares of Symbotic in the 4th quarter worth $36,000. Parallel Advisors LLC increased its holdings 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 buying an additional 249 shares during the last quarter. Finally, Ameriflex Group Inc. raised its position 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 in the last quarter.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Symbotic from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. UBS Group set a $70.00 target price on shares of Symbotic in a report on Wednesday, February 18th. DA Davidson reaffirmed a "buy" rating and set a $70.00 target price on shares of Symbotic in a report on Monday, May 11th. Weiss Ratings lowered shares of Symbotic from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Finally, The Goldman Sachs Group decreased their target price on shares of Symbotic from $54.00 to $45.00 and set a "sell" rating on the stock in a report on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $65.23.
Read Our Latest Research Report 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.
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