Key Points
- Director Charles Kane sold 2,000 Symbotic shares at an average price of $39, generating $78,000; the transaction was conducted under a pre-arranged Rule 10b5-1 plan. He retains 89,852 shares.
- Symbotic reported quarterly revenue of $720.84 million, up 21.7% year over year and above estimates, but earnings per share of $0.09 fell short of the $0.13 consensus.
- Analyst sentiment is mixed, with a consensus “Hold” rating and a $65.92 price target; shares recently opened at $41.60 and remain well below their 52-week high of $87.88.
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 Tuesday, September 1st. The shares were sold at an average price of $39.00, for a total value of $78,000.00. Following the sale, the director owned 89,852 shares of the company's stock, valued at approximately $3,504,228. This represents a 2.18% decrease in their position. The transaction was disclosed in a filing 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 Monday, August 3rd, Charles Kane sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $43.21, for a total value of $86,420.00.
- On Wednesday, July 1st, Charles Kane sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $44.90, for a total value of $89,800.00.
Symbotic Price Performance
Shares of SYM stock opened at $41.60 on Friday. The stock has a market capitalization of $25.16 billion, a PE ratio of 462.22, a P/E/G ratio of 5.36 and a beta of 1.94. The business has a 50-day moving average of $41.97 and a 200 day moving average of $48.20. Symbotic Inc. has a 1-year low of $37.68 and a 1-year high of $87.88.
Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). Symbotic had a return on equity of 1.40% and a net margin of 0.48%.The business had revenue of $720.84 million during the quarter, compared to analysts' expectations of $715.03 million. During the same quarter last year, the company posted ($0.05) EPS. Symbotic's revenue for the quarter was up 21.7% compared to the same quarter last year. Analysts anticipate that Symbotic Inc. will post 0.25 EPS for the current year.
Analyst Ratings Changes
A number of research analysts have 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 note on Tuesday, May 26th. Zacks Research raised shares of Symbotic from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 5th. DA Davidson reiterated a "buy" rating and issued a $70.00 target price on shares of Symbotic in a report on Monday, May 11th. Robert W. Baird set a $51.00 price objective on shares of Symbotic in a research note on Thursday, August 6th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 target price on shares of Symbotic in a research report on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $65.92.
Get Our Latest Stock Report on Symbotic
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust lifted its holdings in Symbotic by 100.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company's stock valued at $32,000 after acquiring an additional 268 shares during the last quarter. Quarry LP purchased a new stake in Symbotic in the 4th quarter valued at about $36,000. Parallel Advisors LLC raised its holdings in Symbotic by 67.3% in the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company's stock valued at $37,000 after buying an additional 249 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new position in Symbotic in the fourth quarter valued at about $48,000. Finally, NewEdge Advisors LLC lifted its position in Symbotic by 81.5% in the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company's stock valued at $50,000 after buying an additional 573 shares during the last quarter.
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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