Symbotic Inc. (NASDAQ:SYM - Get Free Report) CTO James Kuffner sold 3,952 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $40.59, for a total transaction of $160,411.68. Following the completion of the transaction, the chief technology officer owned 219,858 shares in the company, valued at $8,924,036.22. This trade represents a 1.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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, July 24th, James Kuffner sold 18,987 shares of Symbotic stock. The stock was sold at an average price of $40.38, for a total transaction of $766,695.06.
Symbotic Stock Up 0.9%
Shares of NASDAQ SYM opened at $40.41 on Wednesday. Symbotic Inc. has a twelve month low of $38.19 and a twelve month high of $87.88. The firm has a fifty day simple moving average of $42.00 and a 200 day simple moving average of $49.09. The company has a market capitalization of $24.44 billion, a PE ratio of 449.00, a P/E/G ratio of 5.38 and a beta of 1.94.
Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). The firm had revenue of $720.84 million for the quarter, compared to the consensus estimate of $715.03 million. Symbotic had a net margin of 0.48% and a return on equity of 1.40%. The business's revenue was up 21.7% compared to the same quarter last year. During the same period last year, the company posted ($0.05) EPS. As a group, equities analysts expect that Symbotic Inc. will post 0.25 earnings per share for the current fiscal year.
Institutional Trading of Symbotic
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in Symbotic by 5,964.6% during the 2nd quarter. California State Teachers Retirement System now owns 3,388,331 shares of the company's stock worth $152,305,000 after buying an additional 3,332,460 shares during the period. Vanguard Group Inc. grew its stake in Symbotic by 47.6% in the fourth quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company's stock valued at $412,463,000 after acquiring an additional 2,237,137 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Symbotic by 51,346.1% during the fourth quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company's stock valued at $129,375,000 after acquiring an additional 2,178,615 shares in the last quarter. Morgan Stanley raised its position in shares of Symbotic by 85.4% during the fourth quarter. Morgan Stanley now owns 2,530,874 shares of the company's stock worth $150,587,000 after purchasing an additional 1,165,513 shares during the period. Finally, Ghisallo Capital Management LLC acquired a new position in shares of Symbotic during the fourth quarter worth approximately $63,034,000.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. The Goldman Sachs Group cut their target price on Symbotic from $54.00 to $45.00 and set a "sell" rating on the stock in a research report on Tuesday, May 26th. Robert W. Baird set a $51.00 target price on Symbotic in a report on Thursday, August 6th. Zacks Research raised Symbotic from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 5th. Needham & Company LLC restated a "buy" rating and set a $75.00 price target on shares of Symbotic in a report on Thursday, August 6th. Finally, DA Davidson reaffirmed a "buy" rating and set a $70.00 price objective on shares of Symbotic in a research report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $65.92.
Check Out Our Latest Stock Report on SYM
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
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