Insider Selling: Symbotic (NASDAQ:SYM) Director Sells $89,800.00 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Charles Kane sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $44.90, for a total value of $89,800.00. Following the transaction, the director directly owned 89,852 shares of the company’s stock, valued at approximately $4,034,354.80. The trade was a 2.18% 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Charles Kane also recently made the following trade(s):

• On Monday, June 1st, Charles Kane sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $45.99, for a total transaction of $91,980.00.
• On Friday, May 1st, Charles Kane sold 2,000 shares of Symbotic stock. The stock was sold at an average price of $58.26, for a total transaction of $116,520.00.

Symbotic Stock Performance

NASDAQ:SYM opened at $41.69 on Thursday. The company has a fifty day moving average of $47.12 and a two-hundred day moving average of $53.92. The stock has a market capitalization of $25.13 billion, a PE ratio of -833.63, a P/E/G ratio of 6.09 and a beta of 1.93. Symbotic Inc. has a fifty-two week low of $38.19 and a fifty-two week high of $87.88.

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

Trending Headlines about Symbotic

Here are the key news stories impacting Symbotic this week:

• Positive Sentiment: Analysts and recent commentary continue to argue that Symbotic could be undervalued relative to its warehouse automation growth narrative, with some articles saying the stock still looks cheap after a long run. Symbotic (SYM) Stock Still Looks Cheap Following Its 315% Run
• Neutral Sentiment: Research notes highlight mixed views on the stock, including a Hold-style rating from Zacks and a broader analyst consensus that remains around Hold despite several buy ratings. Symbotic (SYM) Could Be 32% Undervalued On Its Warehouse Automation Narrative
• Negative Sentiment: Recent insider sales from multiple directors may be read as a lack of near-term confidence, adding to pressure on the shares. Symbotic (NASDAQ:SYM) Director Sells 2,000 Shares

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Weiss Ratings lowered Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. The Goldman Sachs Group decreased their target price on Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a research report on Tuesday, May 26th. Barclays boosted their price target on Symbotic from $42.00 to $44.00 and gave the stock an “underweight” rating in a research report on Monday, March 16th. Finally, DA Davidson reissued a “buy” rating and issued a $70.00 price objective on shares of Symbotic in a research note on Monday, May 11th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.23.

Hedge Funds Weigh In On Symbotic

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MAI Capital Management increased its stake in shares of Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Symbotic by 100.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock valued at $32,000 after purchasing an additional 268 shares during the period. Quarry LP acquired a new stake in Symbotic during the fourth quarter worth about $36,000. Parallel Advisors LLC increased its position in Symbotic by 67.3% during the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after purchasing an additional 249 shares during the last quarter. Finally, Ameriflex Group Inc. raised its stake in Symbotic by 1,500.0% during the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after purchasing an additional 660 shares during the period.

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.