David Ladensohn Sells 23,000 Shares of Symbotic (NASDAQ:SYM) Stock

Key Points

• David Ladensohn, a major shareholder of Symbotic, sold 23,000 shares at an average price of $66.75, resulting in a total value of $1,535,250, which represents an **82.14% decrease** in his position.
• Symbotic reported a quarterly revenue of $592.12 million, surpassing analyst expectations, but missed EPS estimates, reporting ($0.05) compared to a consensus of $0.03.
• Analysts have mixed ratings for Symbotic, with a consensus rating of **"Hold"** and an average price target of **$44.61**, despite some firms upgrading their price targets significantly.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) major shareholder David Ladensohn sold 23,000 shares of the firm's stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $66.75, for a total value of $1,535,250.00. Following the transaction, the insider directly owned 5,000 shares in the company, valued at approximately $333,750. The trade was a 82.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Symbotic Stock Performance

Shares of SYM stock traded down $3.41 during mid-day trading on Friday, hitting $63.73. 1,796,653 shares of the stock were exchanged, compared to its average volume of 1,976,890. The stock's fifty day simple moving average is $53.19 and its two-hundred day simple moving average is $39.19. The stock has a market capitalization of $37.63 billion, a price-to-earnings ratio of -910.28, a P/E/G ratio of 13.34 and a beta of 2.06. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $71.29.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.08). Symbotic had a negative return on equity of 2.02% and a negative net margin of 0.38%.The company had revenue of $592.12 million for the quarter, compared to analysts' expectations of $533.55 million. During the same period in the prior year, the business earned ($0.02) EPS. The business's quarterly revenue was up 25.9% compared to the same quarter last year. On average, research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Trading of Symbotic

Institutional investors have recently made changes to their positions in the stock. IAG Wealth Partners LLC purchased a new stake in shares of Symbotic during the 2nd quarter valued at $32,000. AdvisorNet Financial Inc purchased a new stake in shares of Symbotic during the 2nd quarter valued at $32,000. Gables Capital Management Inc. purchased a new stake in shares of Symbotic during the 2nd quarter valued at $39,000. NewEdge Advisors LLC grew its stake in shares of Symbotic by 81.5% during the 2nd quarter. NewEdge Advisors LLC now owns 1,276 shares of the company's stock valued at $50,000 after buying an additional 573 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Symbotic by 1,812.2% during the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after buying an additional 1,341 shares during the period.

Analyst Ratings Changes

A number of equities research analysts recently commented on SYM shares. Needham & Company LLC raised their price objective on shares of Symbotic from $32.00 to $57.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Northcoast Research set a $65.00 price target on shares of Symbotic and gave the company a "buy" rating in a research report on Thursday, October 2nd. Wall Street Zen downgraded shares of Symbotic from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. UBS Group reiterated a "sell" rating and set a $35.00 price target (up from $27.00) on shares of Symbotic in a research report on Tuesday, September 23rd. Finally, Oppenheimer lifted their price objective on Symbotic from $54.00 to $59.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Seven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $44.61.

Symbotic Company Profile

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.

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