Symbotic Inc. (NASDAQ:SYM) CFO Sells $348,758.06 in Stock

Key Points

• CFO Carol J. Hibbard of Symbotic Inc. sold 6,293 shares for $348,758, decreasing her ownership by 9.22% and leaving her with approximately $3.43 million in shares.
• Symbotic's stock price rose to $63.21 after trading up $6.64, with a market capitalization of about $37.27 billion and a significant yearly price range of $16.32 to $64.16.
• The company reported a negative EPS of ($0.04) for the last quarter, despite revenues of $549.65 million, indicating strong sales growth but continuing losses.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) CFO Carol J. Hibbard sold 6,293 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $55.42, for a total value of $348,758.06. Following the transaction, the chief financial officer directly owned 61,971 shares in the company, valued at approximately $3,434,432.82. The trade was a 9.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Symbotic Price Performance

Symbotic stock traded up $6.64 during trading hours on Tuesday, hitting $63.21. 4,916,491 shares of the stock traded hands, compared to its average volume of 1,944,406. The firm's 50 day moving average price is $40.77 and its 200-day moving average price is $30.02. The stock has a market capitalization of $37.27 billion, a price-to-earnings ratio of -1,580.25, a P/E/G ratio of 52.97 and a beta of 2.06. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $64.16.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). The business had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. Symbotic had a negative net margin of 0.23% and a negative return on equity of 1.26%. The firm's revenue for the quarter was up 39.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) earnings per share. Research analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Symbotic

Several hedge funds and other institutional investors have recently modified their holdings of SYM. GAMMA Investing LLC raised its holdings in shares of Symbotic by 1,812.2% in 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. Ulland Investment Advisors LLC purchased a new stake in shares of Symbotic in the 1st quarter valued at approximately $31,000. AdvisorNet Financial Inc acquired a new position in shares of Symbotic during the second quarter worth $32,000. Gables Capital Management Inc. acquired a new position in shares of Symbotic during the 2nd quarter worth about $39,000. Finally, CWM LLC increased its holdings in shares of Symbotic by 408.2% in the 1st quarter. CWM LLC now owns 2,602 shares of the company's stock valued at $53,000 after acquiring an additional 2,090 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citigroup restated a "buy" rating on shares of Symbotic in a research report on Monday, July 14th. Arete downgraded Symbotic from a "buy" rating to a "neutral" rating and set a $50.00 price objective on the stock. in a research note on Friday, July 25th. Oppenheimer reissued an "outperform" rating and issued a $54.00 target price (up from $35.00) on shares of Symbotic in a report on Wednesday, July 16th. Arete Research cut shares of Symbotic from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group dropped their price target on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $39.87.

About Symbotic

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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