Key Points
- Symbotic director Charles Kane sold 2,000 shares for $76,880 at an average price of $38.44 under a pre-arranged Rule 10b5-1 plan. He retained 89,852 shares after the sale.
- Symbotic’s latest reported quarterly revenue rose 21.7% year over year to $720.84 million, topping estimates, while EPS of $0.09 fell short of the $0.13 consensus.
- Analysts’ average rating was Hold, with an average price target of $65.83; shares were trading near $37.51, 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 company's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $38.44, for a total transaction of $76,880.00. Following the completion of the sale, the director directly owned 89,852 shares in the company, valued at $3,453,910.88. This trade represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Thursday, October 1st, Charles Kane sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $43.17, for a total transaction of $86,340.00.
- On Tuesday, September 1st, Charles Kane sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $39.00, for a total transaction of $78,000.00.
Symbotic Price Performance
NASDAQ SYM opened at $37.51 on Thursday. The company has a market capitalization of $22.69 billion, a PE ratio of 416.89, a P/E/G ratio of 3.55 and a beta of 2.06. The company has a fifty day moving average of $41.12 and a 200 day moving average of $47.73. Symbotic Inc. has a 1 year low of $36.02 and a 1 year high of $87.88.
Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $720.84 million during the quarter, compared to analysts' expectations of $715.03 million. Symbotic had a net margin of 0.48% and a return on equity of 1.40%. Symbotic's revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) earnings per share. Research analysts expect that Symbotic Inc. will post 0.21 earnings per share for the current year.
Institutional Trading of Symbotic
A number of hedge funds have recently added to or reduced their stakes in the company. GK Wealth Management LLC purchased a new position in Symbotic in the third quarter valued at $26,000. Toth Financial Advisory Corp raised its position in shares of Symbotic by 88.7% in the third quarter. Toth Financial Advisory Corp now owns 632 shares of the company's stock worth $27,000 after acquiring an additional 297 shares during the period. IAG Wealth Partners LLC raised its position in shares of 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 acquiring an additional 398 shares during the period. Nykredit A S acquired a new position in shares of Symbotic in the second quarter worth about $89,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Symbotic during the 1st quarter worth about $113,000.
Analyst Upgrades and Downgrades
SYM has been the subject of several analyst reports. Weiss Ratings raised Symbotic from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, September 21st. Robert W. Baird set a $51.00 target price on Symbotic in a report on Thursday, August 6th. TD Cowen dropped their target price on Symbotic from $75.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, October 22nd. Needham & Company LLC reduced their price target on Symbotic from C$75.00 to C$60.00 and set a "buy" rating for the company in a research report on Tuesday, September 15th. Finally, Barclays decreased their price target on Symbotic from $44.00 to $38.00 and set an "underweight" rating for the company in a report on Tuesday, September 8th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Symbotic presently has an average rating of "Hold" and an average target price of $65.83.
Read Our Latest Stock Analysis on Symbotic
Symbotic Company Profile
(
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.
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