Symbotic Inc. (NASDAQ:SYM) Director Daniela L. Rus Sells 11,705 Shares

Key Points

• Director Daniela L. Rus sold 11,705 shares of Symbotic Inc. at an average price of $59.00, resulting in a total value of $690,595, significantly reducing her stake in the company by 51.50%.
• Symbotic's stock price fell 13.8% in a single day, hitting $54.21, despite a year-over-year revenue increase of 25.9% for the quarter ending August 6th.
• Recent analyst ratings have mixed outlooks: Oppenheimer upgraded its target to $59.00 while others downgraded their ratings, leading to a consensus rating of "Hold" with a target price of $42.69.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Daniela L. Rus sold 11,705 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $59.00, for a total value of $690,595.00. Following the completion of the transaction, the director directly owned 11,024 shares in the company, valued at approximately $650,416. This trade represents a 51.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Symbotic Stock Down 13.8%

Shares of NASDAQ:SYM traded down $8.69 during trading on Thursday, hitting $54.21. The stock had a trading volume of 7,406,695 shares, compared to its average volume of 1,988,348. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $64.16. The stock has a market capitalization of $31.96 billion, a price-to-earnings ratio of -1,355.25, a price-to-earnings-growth ratio of 65.84 and a beta of 2.06. The stock has a 50-day simple moving average of $41.42 and a two-hundred day simple moving average of $30.25.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.08). The business had revenue of $592.12 million for the quarter, compared to analyst estimates of $533.55 million. Symbotic had a negative net margin of 0.23% and a negative return on equity of 1.26%. The business's revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. As a group, sell-side analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Symbotic

Hedge funds have recently added to or reduced their stakes in the business. AdvisorNet Financial Inc purchased a new position in shares of Symbotic in the 2nd quarter valued at about $32,000. Gables Capital Management Inc. acquired a new stake in Symbotic in the second quarter valued at approximately $39,000. GAMMA Investing LLC grew its holdings in Symbotic by 1,812.2% in the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after purchasing an additional 1,341 shares during the period. Ulland Investment Advisors LLC purchased a new stake in shares of Symbotic in the first quarter valued at approximately $31,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Symbotic by 24.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company's stock worth $69,000 after buying an additional 342 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SYM. Oppenheimer upped their price target on shares of Symbotic from $54.00 to $59.00 and gave the stock an "outperform" rating in a research report on Thursday. Arete Research cut Symbotic from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Robert W. Baird lowered Symbotic from an "outperform" rating to a "neutral" rating and set a $55.00 price target for the company. in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut Symbotic from a "buy" rating to a "hold" rating and set a $51.00 price objective for the company. in a research note on Friday, July 18th. Finally, Citigroup reiterated a "buy" rating on shares of Symbotic in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Symbotic presently has a consensus rating of "Hold" and a consensus target price of $42.69.

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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