Insider Selling: Symbotic (NASDAQ:SYM) Insider Sells 2,265 Shares of Company Stock

Key Points

• Symbotic insider Maria Freve sold 2,265 shares at an average price of $38.25, totaling $86,636.25. The sale was made to cover tax-withholding obligations from vested equity awards, leaving her with 5,676 shares.
• SYM traded near $38.97, well below its 52-week high of $87.88 and below both its 50-day and 200-day moving averages. The company’s valuation remains elevated, with a price-to-earnings ratio of 433.
• Symbotic’s latest quarterly revenue rose 21.7% year over year to $720.84 million, but earnings per share came in below expectations. Analysts remain divided, resulting in a consensus “Hold” rating and an average price target of $65.83.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider Maria Freve sold 2,265 shares of the company's stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $38.25, for a total value of $86,636.25. Following the transaction, the insider directly owned 5,676 shares of the company's stock, valued at approximately $217,107. This represents a 28.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Symbotic Price Performance

Shares of SYM traded down $0.01 during mid-day trading on Wednesday, reaching $38.97. The company's stock had a trading volume of 2,149,909 shares, compared to its average volume of 1,806,783. Symbotic Inc. has a 12-month low of $36.47 and a 12-month high of $87.88. The stock has a market cap of $23.57 billion, a PE ratio of 433.00, a price-to-earnings-growth ratio of 3.71 and a beta of 1.97. The company's 50 day moving average is $41.48 and its 200 day moving average is $48.53.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $720.84 million for the quarter, compared to analysts' expectations of $715.03 million. Symbotic had a return on equity of 1.40% and a net margin of 0.48%. Symbotic's revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. As a group, sell-side analysts anticipate that Symbotic Inc. will post 0.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Symbotic

Several institutional investors have recently added to or reduced their stakes in SYM. USS Investment Management Ltd purchased a new stake in Symbotic during the 1st quarter valued at approximately $15,004,000. Sei Investments Co. lifted its position in Symbotic by 21.0% during the 1st quarter. Sei Investments Co. now owns 144,420 shares of the company's stock worth $7,683,000 after acquiring an additional 25,024 shares during the period. Dimensional Fund Advisors LP lifted its position in Symbotic by 26.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 109,015 shares of the company's stock worth $5,789,000 after acquiring an additional 22,895 shares during the period. Amundi lifted its position in Symbotic by 68.5% during the 1st quarter. Amundi now owns 108,553 shares of the company's stock worth $5,775,000 after acquiring an additional 44,132 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Symbotic by 41.1% in the 1st quarter. Royal Bank of Canada now owns 100,018 shares of the company's stock valued at $5,321,000 after purchasing an additional 29,152 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SYM. Barclays cut their price objective on shares of Symbotic from $44.00 to $38.00 and set an "underweight" rating on the stock in a report on Tuesday, September 8th. Robert W. Baird set a $51.00 target price on shares of Symbotic in a report on Thursday, August 6th. Weiss Ratings raised shares of Symbotic from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, September 21st. TD Cowen dropped their target price on shares of Symbotic from $75.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, October 22nd. Finally, Zacks Research upgraded shares of Symbotic from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $65.83.

Key Headlines Impacting Symbotic

Here are the key news stories impacting Symbotic this week:

• Positive Sentiment: Coverage of Symbotic’s growth with Walmart highlights how major “anchor customers” can help robotics companies scale deployments and establish recurring expansion opportunities. What Symbotic’s Walmart growth teaches robotics startups about anchor customers
• Neutral Sentiment: Analyst opinions remain divided. Symbotic has a consensus rating of “Hold,” with seven Buy, five Hold and two Sell ratings; the consensus price target of $65.83 remains well above the recent trading range, although TD Cowen lowered its target to $70 while maintaining a Buy rating. Symbotic Inc. Stock Rated Hold by Wall Street Analysts
• Negative Sentiment: Several insiders reported stock sales, including CFO Izilda Martins, SVP Brian Alexander, CTO James Kuffner, insider Maria Freve and William Boyd III. The largest disclosed transactions were Alexander’s sale of 9,225 shares and Kuffner’s sale of 19,201 shares. Because the filings state that the shares were sold to meet tax-withholding obligations, they do not necessarily indicate declining confidence; however, the cluster of sales could pressure investor sentiment.
• Negative Sentiment: Symbotic continues to trade below its 50-day and 200-day moving averages after a sharp retreat from its 52-week high. Its elevated valuation and prior earnings miss also leave investors sensitive to execution and profitability concerns, despite revenue growth.

Symbotic Company Profile

Symbotic Inc is an automation technology company that develops artificial intelligence-enabled robotics and software for supply chain and warehouse operations. Its systems are designed to automate the movement, storage, retrieval and replenishment of pallets and cases within large distribution centers, helping customers manage inventory and fulfill orders more efficiently.

The company's platform combines mobile robots, automated storage and retrieval systems, robotic palletizing and depalletizing equipment, and warehouse-control software.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.