Symbotic (NASDAQ:SYM) Insider Maria Freve Sells 2,335 Shares

Key Points

• Insider sale: Maria Freve sold 2,335 shares on April 24 at an average price of $60.08 for $140,286.80, cutting her holdings by 43.73% to 3,004 shares; the sale was disclosed in an SEC filing and was made to cover tax withholding on vested equity awards.
• Company performance and outlook: Symbotic reported revenue of $629.99M (up 29.4%) but missed EPS ($0.02 vs. $0.08 est.), the stock trades near $59.52, and analysts hold a mixed view with a consensus "Hold" and a $65.62 target.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider Maria Freve sold 2,335 shares of the company's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $60.08, for a total value of $140,286.80. Following the transaction, the insider directly owned 3,004 shares of the company's stock, valued at approximately $180,480.32. This represents a 43.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Symbotic Price Performance

Shares of NASDAQ SYM traded up $0.13 during midday trading on Monday, hitting $59.52. 1,701,643 shares of the company's stock were exchanged, compared to its average volume of 1,668,733. The firm's fifty day simple moving average is $54.43 and its 200-day simple moving average is $61.16. 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. Symbotic Inc. has a twelve month low of $20.50 and a twelve month high of $87.88.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SYM. Citigroup reiterated an "outperform" rating on shares of Symbotic in a research note on Thursday, February 5th. Needham & Company LLC upped their price objective on shares of Symbotic from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, February 5th. Northland Securities set a $73.00 target price on Symbotic in a research report on Thursday, February 5th. The Goldman Sachs Group reissued a "sell" rating and issued a $50.00 target price on shares of Symbotic in a report on Thursday, January 15th. Finally, Barclays upped their target price on Symbotic from $42.00 to $44.00 and gave the company an "underweight" rating in a research report on Monday, March 16th. Seven investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $65.62.

Hedge Funds Weigh In On Symbotic

Hedge funds and other institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC increased its stake in Symbotic by 12.0% in the 1st quarter. Private Advisor Group LLC now owns 19,257 shares of the company's stock valued at $1,024,000 after buying an additional 2,070 shares during the period. Leonteq Securities AG lifted its stake in shares of Symbotic by 16.3% in the 1st quarter. Leonteq Securities AG now owns 5,507 shares of the company's stock worth $293,000 after acquiring an additional 772 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its holdings in shares of Symbotic by 115.3% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 1,996 shares of the company's stock valued at $106,000 after acquiring an additional 1,069 shares in the last quarter. Peregrine Asset Advisers Inc. acquired a new position in shares of Symbotic during the first quarter worth about $2,379,000. Finally, Patten Group Inc. purchased a new position in Symbotic during the first quarter worth about $452,000.

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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