James Kuffner Sells 3,669 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 3,669 shares of Symbotic stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $56.84, for a total value of $208,545.96. Following the sale, the chief technology officer directly owned 151,061 shares in the company, valued at approximately $8,586,307.24. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, January 26th, James Kuffner sold 77,321 shares of Symbotic stock. The shares were sold at an average price of $59.76, for a total transaction of $4,620,702.96.

Symbotic Stock Performance

Shares of SYM stock traded down $0.16 during trading hours on Wednesday, hitting $56.14. 1,792,963 shares of the company were exchanged, compared to its average volume of 2,072,815. The stock has a market capitalization of $33.81 billion, a price-to-earnings ratio of -561.34, a P/E/G ratio of 5.45 and a beta of 2.13. Symbotic Inc. has a one year low of $16.32 and a one year high of $87.88. The business’s 50-day simple moving average is $60.44 and its two-hundred day simple moving average is $60.53.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.06). The business had revenue of $629.99 million during the quarter, compared to analyst estimates of $622.58 million. Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The company’s quarterly revenue was up 29.4% on a year-over-year basis. During the same period last year, the firm posted ($0.03) earnings per share. As a group, analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Symbotic

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Symbotic by 47.6% during the fourth quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock valued at $412,463,000 after purchasing an additional 2,237,137 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Symbotic by 51,346.1% during the 4th quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock worth $129,375,000 after purchasing an additional 2,178,615 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Symbotic by 85.4% during the 4th quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock valued at $150,587,000 after buying an additional 1,165,513 shares during the last quarter. Ghisallo Capital Management LLC acquired a new stake in shares of Symbotic during the 4th quarter valued at about $63,034,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Symbotic in the 3rd quarter valued at approximately $34,296,000.

Analysts Set New Price Targets

Several research firms have commented on SYM. Barclays upped their target price on shares of Symbotic from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Monday, January 12th. Wall Street Zen raised Symbotic from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. DA Davidson lifted their target price on Symbotic from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. 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. Finally, Northcoast Research lowered Symbotic from a “buy” rating to a “neutral” rating in a report on Tuesday, November 25th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $60.57.

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.