Symbotic (NASDAQ:SYM) SVP Sells 9,225 Shares of Company Stock

Key Points

• Symbotic SVP Brian Alexander sold 9,225 shares at an average price of $38.26, totaling $352,948.50. The sale was made to cover tax withholding tied to vested equity awards, reducing his direct holdings by 12.11% to 66,959 shares.
• Symbotic shares recently traded near $38.97, well below their 52-week high of $87.88 and below both the 50-day and 200-day moving averages. The company reported revenue growth of 21.7% year over year but missed quarterly EPS expectations.
• Analyst sentiment is mixed, with a consensus “Hold” rating from seven Buy, five Hold and two Sell recommendations. The average price target is $65.83, although some firms have recently lowered their targets.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) SVP Brian Alexander sold 9,225 shares of the stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $38.26, for a total value of $352,948.50. Following the transaction, the senior vice president directly owned 66,959 shares of the company's stock, valued at $2,561,851.34. The trade was a 12.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Brian Daniel Alexander also recently made the following trade(s):

• On Tuesday, October 27th, Brian Alexander sold 89 shares of Symbotic stock. The stock was sold at an average price of $38.28, for a total value of $3,406.92.

Symbotic Stock Performance

Shares of NASDAQ:SYM traded down $0.01 during trading on Wednesday, reaching $38.97. The stock had a trading volume of 2,149,909 shares, compared to its average volume of 1,806,783. Symbotic Inc. has a 1-year low of $36.47 and a 1-year high of $87.88. The stock has a market cap of $23.57 billion, a PE ratio of 433.00, a PEG ratio of 3.71 and a beta of 1.97. The business has a fifty day moving average price of $41.48 and a 200-day moving average price of $48.53.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). Symbotic had a net margin of 0.48% and a return on equity of 1.40%. The firm had revenue of $720.84 million during the quarter, compared to analyst estimates of $715.03 million. During the same period in the prior year, the company posted ($0.05) earnings per share. The firm's revenue for the quarter was up 21.7% compared to the same quarter last year. Sell-side analysts expect that Symbotic Inc. will post 0.21 earnings per share for the current year.

Hedge Funds Weigh In On Symbotic

Institutional investors have recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC boosted its stake in Symbotic by 5.2% during the second quarter. Concurrent Investment Advisors LLC now owns 5,811 shares of the company's stock worth $261,000 after buying an additional 287 shares during the last quarter. Toth Financial Advisory Corp increased its stake in shares of Symbotic by 88.7% in the 3rd quarter. Toth Financial Advisory Corp now owns 632 shares of the company's stock worth $27,000 after acquiring an additional 297 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Symbotic by 5.4% in the 1st quarter. International Assets Investment Management LLC now owns 5,844 shares of the company's stock worth $320,000 after acquiring an additional 300 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of Symbotic by 7.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,100 shares of the company's stock worth $229,000 after acquiring an additional 344 shares during the period. Finally, IAG Wealth Partners LLC raised its holdings in shares of Symbotic by 29.4% during the 1st quarter. IAG Wealth Partners LLC now owns 1,752 shares of the company's stock worth $93,000 after acquiring an additional 398 shares during the period.

Symbotic News Roundup

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.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SYM. Zacks Research raised shares of Symbotic from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Robert W. Baird set a $51.00 price target on shares of Symbotic in a research note on Thursday, August 6th. TD Cowen decreased their price target on shares of Symbotic from $75.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, October 22nd. Barclays lowered their price target on shares of Symbotic from $44.00 to $38.00 and set an "underweight" rating on the stock in a research report on Tuesday, September 8th. Finally, Needham & Company LLC dropped their price objective on shares of Symbotic from C$75.00 to C$60.00 and set a "buy" rating for the company in a research note on Tuesday, September 15th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $65.83.

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.

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