Symbotic (NASDAQ:SYM) CFO Izilda Martins Sells 27,463 Shares

Symbotic Inc. (NASDAQ:SYM) CFO Izilda Martins sold 27,463 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $40.80, for a total transaction of $1,120,490.40. Following the completion of the sale, the chief financial officer directly owned 35,171 shares in the company, valued at approximately $1,434,976.80. The trade was a 43.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Symbotic Stock Down 2.0%

SYM traded down $0.94 during midday trading on Wednesday, reaching $46.52. 2,007,595 shares of the company’s stock were exchanged, compared to its average volume of 1,861,792. The firm has a market capitalization of $28.04 billion, a price-to-earnings ratio of -930.21, a price-to-earnings-growth ratio of 6.76 and a beta of 1.94. Symbotic Inc. has a one year low of $38.19 and a one year high of $87.88. The business has a 50-day simple moving average of $43.16 and a two-hundred day simple moving average of $51.05.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The company had revenue of $720.84 million for the quarter, compared to analyst estimates of $715.03 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, research analysts anticipate that Symbotic Inc. will post 0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Symbotic by 47.6% during the 4th 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 in the last quarter. JPMorgan Chase & Co. boosted its stake in Symbotic by 51,346.1% in the fourth 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 grew its holdings in shares of Symbotic by 85.4% during the fourth quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock worth $150,587,000 after purchasing an additional 1,165,513 shares during the last quarter. Ghisallo Capital Management LLC bought a new stake in shares of Symbotic during the fourth quarter worth $63,034,000. Finally, Marshall Wace LLP acquired a new stake in shares of Symbotic in the fourth quarter valued at $33,997,000.

Analysts Set New Price Targets

SYM has been the topic of a number of analyst reports. 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 research report on Tuesday, May 26th. DA Davidson reissued a “buy” rating and set a $70.00 price objective 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, Weiss Ratings lowered shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, Symbotic has an average rating of “Hold” and a consensus target price of $66.50.

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.