Symbotic (NASDAQ:SYM) Director Sells $116,520.00 in Stock

Key Points

• Director Charles Kane sold 2,000 Symbotic shares on May 1 at an average $58.26 for $116,520 under a pre‑arranged Rule 10b5-1 plan, trimming his stake to 89,852 shares (a 2.18% reduction) after additional sales in April and March.
• Symbotic missed on EPS in its Feb. 4 quarter (reported $0.02 vs. $0.08 expected) despite 29.4% revenue growth to $629.99M, and analysts remain mixed with a consensus rating of "Hold" and a $65.62 price target.
• Shares traded up ~1.9% to $58.06, with a market cap near $35 billion and a 52‑week range of $21.89 to $87.88, trading below its 200‑day moving average.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Charles Kane sold 2,000 shares of Symbotic stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $58.26, for a total transaction of $116,520.00. Following the completion of the transaction, the director directly owned 89,852 shares in the company, valued at approximately $5,234,777.52. This represents a 2.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Charles Kane also recently made the following trade(s):

• On Wednesday, April 1st, Charles Kane sold 2,000 shares of Symbotic stock. The shares were sold at an average price of $53.74, for a total transaction of $107,480.00.
• On Monday, March 9th, Charles Kane sold 4,000 shares of Symbotic stock. The shares were sold at an average price of $47.86, for a total transaction of $191,440.00.

Symbotic Stock Up 1.9%

Shares of NASDAQ:SYM traded up $1.06 during trading on Tuesday, reaching $58.06. The stock had a trading volume of 1,282,463 shares, compared to its average volume of 1,641,414. Symbotic Inc. has a 52 week low of $21.89 and a 52 week high of $87.88. The firm has a market capitalization of $34.96 billion, a price-to-earnings ratio of -580.57, a P/E/G ratio of 5.90 and a beta of 2.03. The stock has a fifty day simple moving average of $54.62 and a two-hundred day simple moving average of $60.92.

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

Analyst Ratings Changes

SYM has been the topic of a number of research reports. Needham & Company LLC boosted their target price on shares of Symbotic from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Symbotic in a research report on Tuesday, April 21st. Zacks Research raised shares of Symbotic from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 18th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $50.00 target price on shares of Symbotic in a research report on Thursday, January 15th. Finally, DA Davidson raised shares of Symbotic from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $57.00 to $70.00 in a research report on Wednesday, April 15th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $65.62.

Institutional Investors Weigh In On Symbotic

Institutional investors and hedge funds have recently bought and sold shares of the business. Grove Street Fiduciary LLC increased its holdings in Symbotic by 314.4% in the 3rd quarter. Grove Street Fiduciary LLC now owns 35,000 shares of the company's stock valued at $1,886,000 after buying an additional 26,555 shares during the period. Mutual Advisors LLC bought a new stake in Symbotic in the 3rd quarter valued at $1,919,000. ARK Investment Management LLC increased its holdings in Symbotic by 32.4% in the 3rd quarter. ARK Investment Management LLC now owns 589,887 shares of the company's stock valued at $31,795,000 after buying an additional 144,389 shares during the period. M&T Bank Corp increased its holdings in Symbotic by 1,108.8% in the 4th quarter. M&T Bank Corp now owns 330,882 shares of the company's stock valued at $19,687,000 after buying an additional 303,510 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Symbotic by 156.7% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 93,751 shares of the company's stock valued at $5,053,000 after buying an additional 57,224 shares during the period.

Symbotic Company Profile

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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