Insider Selling: Symbotic (NASDAQ:SYM) CTO Sells 3,952 Shares

Key Points

• Symbotic CTO James Kuffner sold 3,952 shares at an average price of $40.59, generating $160,411.68. The sale covered tax-withholding obligations tied to vested equity awards, reducing his direct ownership by 1.77% to 219,858 shares.
• Symbotic shares traded near $40.41, close to their one-year low of $38.19 and well below the one-year high of $87.88. The company’s latest quarterly revenue rose 21.7% year over year to $720.84 million, though earnings of $0.09 per share missed the $0.13 analyst consensus.
• Analyst sentiment is mixed, with seven Buy, five Hold, and three Sell ratings; the consensus rating is Hold with a $65.92 price target.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) CTO James Kuffner sold 3,952 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $40.59, for a total transaction of $160,411.68. Following the sale, the chief technology officer directly owned 219,858 shares in the company, valued at approximately $8,924,036.22. This represents a 1.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 Friday, July 24th, James Kuffner sold 18,987 shares of Symbotic stock. The shares were sold at an average price of $40.38, for a total transaction of $766,695.06.

Symbotic Price Performance

Shares of SYM stock traded up $0.38 during midday trading on Tuesday, reaching $40.41. 1,080,888 shares of the company traded hands, compared to its average volume of 1,864,597. The firm's 50 day simple moving average is $42.00 and its two-hundred day simple moving average is $49.09. Symbotic Inc. has a 1-year low of $38.19 and a 1-year high of $87.88. The firm has a market cap of $24.44 billion, a PE ratio of 444.78, a price-to-earnings-growth ratio of 5.38 and a beta of 1.94.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings results 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 return on equity of 1.40% and a net margin of 0.48%.The firm had revenue of $720.84 million during the quarter, compared to analyst estimates of $715.03 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The business's revenue was up 21.7% on a year-over-year basis. As a group, research analysts anticipate that Symbotic Inc. will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Symbotic

Institutional investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust boosted its stake in shares of Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company's stock valued at $32,000 after acquiring an additional 268 shares during the last quarter. Quarry LP acquired a new position in Symbotic in the 4th quarter valued at about $36,000. Parallel Advisors LLC raised its stake in Symbotic by 67.3% in the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company's stock valued at $37,000 after purchasing an additional 249 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in Symbotic in the 4th quarter valued at about $48,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Symbotic in the 4th quarter valued at about $55,000.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Zacks Research upgraded Symbotic from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 5th. Robert W. Baird set a $51.00 price objective on shares of Symbotic in a research report on Thursday, August 6th. Weiss Ratings raised shares of Symbotic from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday. Needham & Company LLC restated a "buy" rating and set a $75.00 target price on shares of Symbotic in a research report on Thursday, August 6th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $70.00 price target on shares of Symbotic in a report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Symbotic has an average rating of "Hold" and a consensus target price of $65.92.

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.

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