Key Points
- Symbotic CTO James Kuffner sold 18,987 shares at an average price of $40.38, generating approximately $766,695. The sale reduced his holdings by 8.15% and was made to cover tax withholding on vested equity awards.
- Symbotic reported quarterly revenue of $676.48 million, up 23.1% year over year and above estimates, but earnings per share of $0.01 missed the $0.12 consensus forecast.
- Analyst sentiment is mixed: Symbotic has a consensus rating of Hold and an average price target of $66.50, while the stock recently traded near $42.34, well below its 12-month high of $87.88.
Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider Maria Freve sold 2,244 shares of Symbotic stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $40.28, for a total transaction of $90,388.32. Following the sale, the insider owned 3,096 shares of the company's stock, valued at approximately $124,706.88. The trade was a 42.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Symbotic Price Performance
SYM stock opened at $42.34 on Wednesday. Symbotic Inc. has a one year low of $38.19 and a one year high of $87.88. The stock has a market cap of $25.52 billion, a PE ratio of -846.63, a P/E/G ratio of 6.12 and a beta of 1.93. The firm has a 50 day simple moving average of $44.00 and a two-hundred day simple moving average of $51.98.
Symbotic (NASDAQ:SYM - Get Free Report) last issued 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). The company had revenue of $676.48 million during the quarter, compared to the consensus estimate of $662.65 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.Symbotic's quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.04) EPS. On average, research analysts expect that Symbotic Inc. will post 0.23 EPS for the current fiscal year.
Institutional Investors Weigh In On Symbotic
Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Symbotic by 47.6% in the 4th quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company's stock worth $412,463,000 after purchasing an additional 2,237,137 shares during the period. JPMorgan Chase & Co. lifted its stake in Symbotic by 51,346.1% in the fourth quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company's stock worth $129,375,000 after purchasing an additional 2,178,615 shares during the last quarter. Morgan Stanley boosted its position in Symbotic by 85.4% during the fourth quarter. Morgan Stanley now owns 2,530,874 shares of the company's stock valued at $150,587,000 after buying an additional 1,165,513 shares during the period. Ghisallo Capital Management LLC purchased a new stake in Symbotic during the fourth quarter valued at about $63,034,000. Finally, Marshall Wace LLP bought a new position in shares of Symbotic during the fourth quarter valued at about $33,997,000.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on SYM shares. Weiss Ratings cut Symbotic from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, May 11th. DA Davidson reiterated a "buy" rating and issued a $70.00 price objective on shares of Symbotic in a report on Monday, May 11th. The Goldman Sachs Group reduced their price objective on Symbotic from $54.00 to $45.00 and set a "sell" rating on the stock in a research report on Tuesday, May 26th. Finally, Zacks Research lowered Symbotic from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 7th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $66.50.
View Our Latest Stock Report on SYM
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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