Key Points
- Director Charles Kane sold 2,000 Symbotic shares at an average price of $43.17, generating $86,340. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 89,852 shares.
- Symbotic shares opened at $42.87 and have traded between $37.68 and $87.88 over the past year. The company’s latest quarter showed revenue growth of 21.7% year over year to $720.84 million, but earnings per share missed estimates.
- Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $65.45; institutional investors cited in the report generally increased their positions.
Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Charles Kane sold 2,000 shares of the company's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $43.17, for a total value of $86,340.00. Following the sale, the director owned 89,852 shares of the company's stock, valued at approximately $3,878,910.84. This represents a 2.18% 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 transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Charles Kane also recently made the following trade(s):
- On Tuesday, September 1st, Charles Kane sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $39.00, for a total transaction of $78,000.00.
- On Monday, August 3rd, Charles Kane sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $43.21, for a total transaction of $86,420.00.
Symbotic Stock Down 0.9%
NASDAQ SYM opened at $42.87 on Tuesday. The business's fifty day moving average is $42.19 and its 200 day moving average is $46.62. Symbotic Inc. has a twelve month low of $37.68 and a twelve month high of $87.88. The company has a market cap of $25.93 billion, a price-to-earnings ratio of 476.33, a price-to-earnings-growth ratio of 4.81 and a beta of 1.97.
Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). Symbotic had a return on equity of 1.40% and a net margin of 0.48%.The firm had revenue of $720.84 million for the quarter, compared to the consensus estimate of $715.03 million. During the same quarter last year, the firm posted ($0.05) earnings per share. The business's revenue for the quarter was up 21.7% on a year-over-year basis. On average, research analysts anticipate that Symbotic Inc. will post 0.21 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Symbotic
Institutional investors have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC lifted its position in Symbotic by 5.2% during the second quarter. Concurrent Investment Advisors LLC now owns 5,811 shares of the company's stock valued at $261,000 after buying an additional 287 shares during the period. International Assets Investment Management LLC lifted its position in Symbotic by 5.4% during the 1st quarter. International Assets Investment Management LLC now owns 5,844 shares of the company's stock valued at $320,000 after acquiring an additional 300 shares during the period. QRG Capital Management Inc. boosted its stake in Symbotic by 7.2% during the second quarter. QRG Capital Management Inc. now owns 5,100 shares of the company's stock worth $229,000 after acquiring an additional 344 shares in the last quarter. IAG Wealth Partners LLC grew its holdings in Symbotic by 29.4% in the first quarter. IAG Wealth Partners LLC now owns 1,752 shares of the company's stock worth $93,000 after purchasing an additional 398 shares during the period. Finally, Midwest Professional Planners LTD. grew its stake in shares of Symbotic by 8.7% in the 2nd quarter. Midwest Professional Planners LTD. now owns 5,308 shares of the company's stock worth $239,000 after buying an additional 423 shares during the last quarter.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on SYM shares. Needham & Company LLC lowered their target price on shares of Symbotic from C$75.00 to C$60.00 and set a "buy" rating for the company in a research note on Tuesday, September 15th. Barclays lowered their price target on Symbotic from $44.00 to $38.00 and set an "underweight" rating for the company in a research report on Tuesday, September 8th. Weiss Ratings upgraded Symbotic from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, September 21st. Robert W. Baird set a $51.00 price objective on Symbotic in a research note on Thursday, August 6th. Finally, Zacks Research upgraded shares of Symbotic from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 5th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $65.45.
Check Out Our Latest Stock Report on SYM
Symbotic Company Profile
(
Get Free Report)
Symbotic Inc is a technology company that develops automation systems for warehouse and supply-chain operations. Its platform combines artificial intelligence, robotics, software and high-speed material-handling equipment to automate the movement, storage and retrieval of goods within large distribution centers.
The company's solutions are designed to manage products from inbound receiving and pallet depalletizing through storage, replenishment, order assembly and outbound shipping. Symbotic's systems use autonomous robots and software to organize inventory and build store-ready orders, helping retailers and other supply-chain operators improve warehouse utilization, throughput and operational consistency.
Symbotic primarily serves large retail and grocery distribution networks, with deployments concentrated in North America.
Further Reading
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