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

by · The Cerbat Gem

Symbotic Inc. (NASDAQ:SYM – Get Free Report) Director Charles Kane sold 2,000 shares of the business’s stock in a transaction 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 sale, the director directly owned 89,852 shares in the company, valued at $5,234,777.52. This trade represents a 2.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Performance

Shares of NASDAQ:SYM traded up $1.06 on Tuesday, hitting $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 twelve month low of $21.89 and a twelve month high of $87.88. The firm’s 50 day moving average price is $54.62 and its 200-day moving average price is $60.92. The company has a market capitalization of $34.96 billion, a price-to-earnings ratio of -580.57, a price-to-earnings-growth ratio of 5.90 and a beta of 2.03.

Symbotic (NASDAQ:SYM – Get Free Report) last issued its earnings results 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 analyst estimates of $622.58 million. During the same quarter in the prior year, the firm posted ($0.03) EPS. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. As a group, sell-side analysts predict that Symbotic Inc. will post 0.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and boosted their target price for the company from $57.00 to $70.00 in a research note on Wednesday, April 15th. Needham & Company LLC boosted their target price 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. Wall Street Zen downgraded shares of Symbotic from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. The Goldman Sachs Group reiterated a “sell” rating and set a $50.00 price target on shares of Symbotic in a research report on Thursday, January 15th. Finally, Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.62.

Get Our Latest Report on Symbotic

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYM. MAI Capital Management lifted its position in Symbotic by 833.3% during the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after buying an additional 500 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Symbotic by 100.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after buying an additional 268 shares in the last quarter. Quarry LP acquired a new position in Symbotic during the 4th quarter worth about $36,000. Parallel Advisors LLC lifted its position in Symbotic by 67.3% during the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after buying an additional 249 shares in the last quarter. Finally, Ameriflex Group Inc. lifted its position in Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after buying an additional 660 shares in the last quarter.

Symbotic Company Profile

(Get Free Report)

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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