Key Points
- Insider sale: William Boyd III sold 9,194 Symbotic shares at an average price of $38.83, generating approximately $357,000. He retained 57,112 shares, reducing his ownership by 13.87%.
- Recent performance: Symbotic shares opened at $38.98, near their 52-week low of $36.47 and well below the 52-week high of $87.88. The company’s latest quarter exceeded revenue expectations but missed consensus EPS estimates, reporting $720.84 million in revenue and $0.09 EPS.
- Analyst outlook: Analysts have a consensus “Hold” rating and an average price target of $65.83, though recent targets have been mixed, including reductions from TD Cowen and Barclays.
Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider William Boyd III sold 9,194 shares of Symbotic stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $38.83, for a total value of $357,003.02. Following the sale, the insider owned 57,112 shares in the company, valued at $2,217,658.96. The trade was a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Symbotic Price Performance
Shares of NASDAQ:SYM opened at $38.98 on Wednesday. The company's 50-day moving average is $41.51 and its 200 day moving average is $48.69. Symbotic Inc. has a fifty-two week low of $36.47 and a fifty-two week high of $87.88.
Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). The company had revenue of $720.84 million for the quarter, compared to analyst estimates of $715.03 million. During the same period in the previous year, the business earned ($0.05) EPS. The business's revenue was up 21.7% compared to the same quarter last year. On average, analysts predict that Symbotic Inc. will post 0.21 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
SYM has been the subject of a number of research reports. TD Cowen reduced their target price on shares of Symbotic from $75.00 to $70.00 and set a "buy" rating for the company in a research report on Thursday, October 22nd. Barclays decreased their price target on shares of Symbotic from $44.00 to $38.00 and set an "underweight" rating for the company in a research note on Tuesday, September 8th. Zacks Research raised shares of Symbotic from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Robert W. Baird set a $51.00 price objective on Symbotic in a research note on Thursday, August 6th. Finally, Weiss Ratings raised Symbotic from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, September 21st. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Symbotic has an average rating of "Hold" and a consensus price target of $65.83.
Get Our Latest Report on SYM
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in SYM. GK Wealth Management LLC purchased a new stake in Symbotic in the 3rd quarter worth about $26,000. Toth Financial Advisory Corp raised its stake in Symbotic by 88.7% in the 3rd quarter. Toth Financial Advisory Corp now owns 632 shares of the company's stock valued at $27,000 after acquiring an additional 297 shares during the period. IAG Wealth Partners LLC raised its stake in Symbotic by 29.4% in the 1st quarter. IAG Wealth Partners LLC now owns 1,752 shares of the company's stock valued at $93,000 after acquiring an additional 398 shares during the period. Nykredit A S purchased a new stake in Symbotic during the second quarter valued at about $89,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its holdings in Symbotic by 115.3% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 1,996 shares of the company's stock valued at $106,000 after purchasing an additional 1,069 shares during the last quarter.
About Symbotic
(
Get Free Report)
Symbotic Inc is an automation technology company that develops artificial intelligence-enabled robotics and software for supply chain and warehouse operations. Its systems are designed to automate the movement, storage, retrieval and replenishment of pallets and cases within large distribution centers, helping customers manage inventory and fulfill orders more efficiently.
The company's platform combines mobile robots, automated storage and retrieval systems, robotic palletizing and depalletizing equipment, and warehouse-control software.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
