Symbotic (NASDAQ:SYM) CTO James Kuffner Sells 18,987 Shares

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 18,987 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $40.38, for a total value of $766,695.06. Following the completion of the sale, the chief technology officer directly owned 214,062 shares of the company’s stock, valued at approximately $8,643,823.56. This trade represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, May 26th, James Kuffner sold 3,878 shares of Symbotic stock. The stock was sold at an average price of $53.51, for a total value of $207,511.78.

Symbotic Trading Up 2.0%

Shares of NASDAQ SYM opened at $42.34 on Wednesday. Symbotic Inc. has a twelve month low of $38.19 and a twelve month high of $87.88. The stock has a 50 day moving average of $44.00 and a two-hundred day moving average of $51.98. The stock has a market cap of $25.52 billion, a P/E ratio of -846.63, a P/E/G ratio of 6.12 and a beta of 1.93.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.11). The firm had revenue of $676.48 million during the quarter, compared to analyst estimates of $662.65 million. Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. Symbotic’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.04) earnings per share. As a group, research analysts predict that Symbotic Inc. will post 0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SYM. Weiss Ratings downgraded shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. DA Davidson reaffirmed a “buy” rating and issued a $70.00 target price on shares of Symbotic in a report on Monday, May 11th. Zacks Research downgraded shares of Symbotic from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, The Goldman Sachs Group lowered their price target on Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Symbotic has a consensus rating of “Hold” and a consensus price target of $66.50.

Institutional Investors Weigh In On Symbotic

Several hedge funds have recently modified their holdings of SYM. Vanguard Group Inc. increased its stake in Symbotic by 47.6% in the 4th quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock valued at $412,463,000 after buying an additional 2,237,137 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Symbotic by 51,346.1% in the 4th quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock worth $129,375,000 after acquiring an additional 2,178,615 shares during the period. Morgan Stanley lifted its stake in shares of Symbotic by 85.4% in the 4th quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock worth $150,587,000 after acquiring an additional 1,165,513 shares during the period. Ghisallo Capital Management LLC purchased a new stake in shares of Symbotic in the fourth quarter valued at about $63,034,000. Finally, Marshall Wace LLP purchased a new stake in shares of Symbotic in the fourth quarter valued at about $33,997,000.

About Symbotic

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.