Key Points
- Symbotic insider William Boyd III sold 5,115 shares on July 1 at an average price of $45.15, totaling about $230,942.25. The sale reduced his holdings by 8.22% and was made under a pre-arranged Rule 10b5-1 plan.
- The stock has been under pressure relative to longer-term trends, opening at $44.46 versus a 50-day average of $47.84 and a 200-day average of $54.14. Symbotic is still well below its 52-week high of $87.88.
- Recent earnings were mixed: Symbotic posted $0.01 EPS, missing estimates, but revenue came in at $676.48 million, above expectations and up 23.1% year over year. Analyst views remain split, with an average rating of Hold and a consensus price target of $65.23.
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 Wednesday, July 1st. The shares were sold at an average price of $44.90, for a total transaction of $89,800.00. Following the transaction, the director directly owned 89,852 shares of the company's stock, valued at approximately $4,034,354.80. This represents a 2.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Charles Kane also recently made the following trade(s):
- On Monday, June 1st, Charles Kane sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $45.99, for a total transaction of $91,980.00.
- 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.
Symbotic Price Performance
SYM opened at $43.21 on Tuesday. The company has a fifty day moving average price of $47.84 and a 200-day moving average price of $54.14. The firm has a market capitalization of $26.04 billion, a P/E ratio of -864.03, a price-to-earnings-growth ratio of 6.30 and a beta of 1.93. Symbotic Inc. has a one year low of $38.19 and a one year high of $87.88.
Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share (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 business had revenue of $676.48 million during the quarter, compared to analysts' expectations of $662.65 million. During the same quarter last year, the business posted ($0.04) EPS. The company's quarterly revenue was up 23.1% on a year-over-year basis. On average, analysts expect that Symbotic Inc. will post 0.23 earnings per share for the current year.
Analysts Set New Price Targets
A number of analysts have recently issued reports on SYM shares. DA Davidson reiterated a "buy" rating and set a $70.00 price target on shares of Symbotic in a research report on Monday, May 11th. Weiss Ratings lowered shares of Symbotic from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, May 11th. Barclays boosted their price target on shares of Symbotic from $42.00 to $44.00 and gave the stock an "underweight" rating in a research note on Monday, March 16th. Finally, The Goldman Sachs Group decreased their price target 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 analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $65.23.
Check Out Our Latest Stock Report on SYM
Institutional Trading of Symbotic
A number of hedge funds have recently bought and sold shares of the company. MAI Capital Management boosted its stake in Symbotic by 833.3% in the third quarter. MAI Capital Management now owns 560 shares of the company's stock worth $30,000 after buying an additional 500 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company's stock worth $32,000 after acquiring an additional 268 shares in the last quarter. Quarry LP purchased a new position in shares of Symbotic during the fourth quarter worth approximately $36,000. Parallel Advisors LLC raised its stake in shares of Symbotic by 67.3% during the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company's stock worth $37,000 after acquiring an additional 249 shares in the last quarter. Finally, Ameriflex Group Inc. lifted its holdings in shares of Symbotic by 1,500.0% in the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company's stock worth $38,000 after acquiring 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.
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