Symbotic (NASDAQ:SYM) SVP Sells $2,270,464.20 in Stock

Key Points

• SVP Brian Daniel Alexander sold 37,860 shares at an average of $59.97 for a total of $2,270,464.20, reducing his stake to 44,229 shares (a 46.12% decrease); the transaction was filed with the SEC and was done to cover tax withholding from vested equity awards.
• SYM shares traded up 0.2% to $59.52, with a market capitalization of $35.84 billion and a 52‑week range of $20.50–$87.88.
• Symbotic reported $0.02 EPS for the quarter versus $0.08 expected (a miss) while revenue rose 29.4% to $629.99 million, and analysts show a mixed view with an average rating of "Hold" and an average price target of $65.62.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) SVP Brian Daniel Alexander sold 37,860 shares of Symbotic stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $59.97, for a total transaction of $2,270,464.20. Following the completion of the sale, the senior vice president directly owned 44,229 shares in the company, valued at approximately $2,652,413.13. This represents a 46.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Symbotic Trading Up 0.2%

Shares of SYM stock traded up $0.13 during trading hours on Monday, hitting $59.52. 1,701,643 shares of the company were exchanged, compared to its average volume of 1,668,733. The stock has a market capitalization of $35.84 billion, a price-to-earnings ratio of -595.14, a P/E/G ratio of 5.95 and a beta of 2.10. The firm has a fifty day simple moving average of $54.43 and a 200 day simple moving average of $61.16. Symbotic Inc. has a 52-week low of $20.50 and a 52-week high of $87.88.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $622.58 million. During the same quarter in the previous year, the company posted ($0.03) EPS. Symbotic's revenue for the quarter was up 29.4% on a year-over-year basis. Sell-side analysts anticipate that Symbotic Inc. will post 0.33 EPS for the current year.

Hedge Funds Weigh In On Symbotic

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

Analysts Set New Price Targets

Several research analysts have commented on the company. Barclays raised their target price on Symbotic from $42.00 to $44.00 and gave the stock an "underweight" rating in a research note on Monday, March 16th. Zacks Research raised shares of Symbotic from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 18th. UBS Group set a $70.00 price objective on shares of Symbotic in a research report on Wednesday, February 18th. Needham & Company LLC boosted 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. Finally, Citigroup reaffirmed an "outperform" rating on shares of Symbotic in a report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Symbotic currently has an average rating of "Hold" and an average price target of $65.62.

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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