Symbotic (NASDAQ:SYM) CTO Sells $4,620,702.96 in Stock

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 77,321 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $59.76, for a total transaction of $4,620,702.96. Following the completion of the sale, the chief technology officer owned 144,982 shares in the company, valued at $8,664,124.32. This represents a 34.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

James Kuffner also recently made the following trade(s):

• On Wednesday, November 26th, James Kuffner sold 8,348 shares of Symbotic stock. The stock was sold at an average price of $81.30, for a total value of $678,692.40.

Symbotic Trading Up 2.0%

Shares of Symbotic stock opened at $56.20 on Friday. The company’s 50-day moving average price is $64.68 and its 200-day moving average price is $60.12. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $87.88. The company has a market cap of $33.24 billion, a price-to-earnings ratio of -374.67, a PEG ratio of 15.63 and a beta of 2.13.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.11). The company had revenue of $618.46 million for the quarter, compared to the consensus estimate of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. On average, sell-side analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.

Institutional Trading of Symbotic

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Private Wealth Services LLC grew its holdings in Symbotic by 112.6% during the 4th quarter. Kestra Private Wealth Services LLC now owns 24,661 shares of the company’s stock valued at $1,467,000 after purchasing an additional 13,063 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Symbotic by 4.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 7,733 shares of the company’s stock valued at $460,000 after buying an additional 321 shares during the period. Quent Capital LLC bought a new position in shares of Symbotic during the fourth quarter valued at approximately $714,000. Vanguard Group Inc. raised its holdings in shares of Symbotic by 47.6% in the fourth quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock worth $412,463,000 after buying an additional 2,237,137 shares during the period. Finally, Veracity Capital LLC lifted its stake in shares of Symbotic by 9.6% during the 4th quarter. Veracity Capital LLC now owns 9,538 shares of the company’s stock worth $568,000 after acquiring an additional 832 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SYM. Deutsche Bank Aktiengesellschaft boosted their price target on Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a research report on Tuesday, November 25th. Oppenheimer reissued an “outperform” rating and issued a $83.00 target price on shares of Symbotic in a report on Tuesday, November 25th. The Goldman Sachs Group restated a “sell” rating and set a $50.00 price target on shares of Symbotic in a report on Thursday, January 15th. Needham & Company LLC upped their price target on shares of Symbotic from $57.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Finally, Wall Street Zen raised shares of Symbotic from a “sell” rating to a “hold” rating in a research report on Sunday, November 30th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, Symbotic presently has an average rating of “Hold” and an average price target of $56.79.

Symbotic Company Profile

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.