Insider Selling: Symbotic (NASDAQ:SYM) CTO Sells 19,729 Shares of Stock

Key Points

• CTO James Kuffner sold 19,729 shares on April 24 at an average price of $59.82 for about $1.18M to cover tax withholding from vested equity, leaving him with 179,255 shares (a 9.91% reduction).
• Symbotic recently missed quarterly EPS ($0.02 vs. $0.08 est.) but reported revenue of $629.99M, up 29.4% year‑over‑year; the stock trades near $59.50 with a market‑cap of $35.8B and a consensus analyst rating of Hold (average price target $65.62).

Symbotic Inc. (NASDAQ:SYM - Get Free Report) CTO James Kuffner sold 19,729 shares of Symbotic stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $59.82, for a total transaction of $1,180,188.78. Following the sale, the chief technology officer owned 179,255 shares in the company, valued at approximately $10,723,034.10. The trade was a 9.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Wednesday, February 25th, James Kuffner sold 3,669 shares of Symbotic stock. The stock was sold at an average price of $56.84, for a total transaction of $208,545.96.

Symbotic Trading Up 0.2%

SYM traded up $0.13 during trading on Monday, hitting $59.52. 1,701,643 shares of the company traded hands, compared to its average volume of 1,668,733. The company has a market cap of $35.84 billion, a PE ratio of -595.14, a P/E/G ratio of 5.95 and a beta of 2.10. The stock's 50-day simple moving average is $54.43 and its two-hundred day simple moving average is $61.16. Symbotic Inc. has a 1 year low of $20.50 and a 1 year high of $87.88.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.06). The company had revenue of $629.99 million for the quarter, compared to the consensus estimate of $622.58 million. Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The firm's revenue for the quarter was up 29.4% on a year-over-year basis. During the same period last year, the company earned ($0.03) EPS. Equities analysts expect that Symbotic Inc. will post 0.33 EPS for the current year.

Hedge Funds Weigh In On Symbotic

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of 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 during the last quarter. Morgan Stanley lifted its position in Symbotic by 85.4% in the fourth quarter. Morgan Stanley now owns 2,530,874 shares of the company's stock worth $150,587,000 after buying an additional 1,165,513 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Symbotic by 51,346.1% during the fourth quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company's stock worth $129,375,000 after buying an additional 2,178,615 shares during the period. UBS Group AG boosted its stake in Symbotic by 22.3% during the third quarter. UBS Group AG now owns 1,105,770 shares of the company's stock worth $59,601,000 after buying an additional 201,547 shares during the period. Finally, Ghisallo Capital Management LLC bought a new position in Symbotic during the fourth quarter valued at $63,034,000.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group restated a "sell" rating and set a $50.00 price target on shares of Symbotic in a report on Thursday, January 15th. Needham & Company LLC increased their target price on Symbotic from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Citigroup reissued an "outperform" rating on shares of Symbotic in a report on Thursday, February 5th. Zacks Research upgraded shares of Symbotic from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 18th. Finally, DA Davidson raised shares of Symbotic from a "neutral" rating to a "buy" rating and upped their price target for the company from $57.00 to $70.00 in a research note on Wednesday, April 15th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $65.62.

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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