Symbotic (NASDAQ:SYM) CTO James Kuffner Sells 77,321 Shares

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 77,321 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $59.76, for a total transaction of $4,620,702.96. Following the transaction, the chief technology officer directly owned 144,982 shares in the company, valued at approximately $8,664,124.32. The trade was a 34.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

James Kuffner also recently made the following trade(s):

• On Wednesday, November 26th, James Kuffner sold 8,348 shares of Symbotic stock. The stock was sold at an average price of $81.30, for a total transaction of $678,692.40.

Symbotic Price Performance

NASDAQ SYM opened at $58.99 on Wednesday. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $87.88. The firm has a market capitalization of $34.89 billion, a PE ratio of -393.27, a P/E/G ratio of 16.87 and a beta of 2.13. The company’s 50 day simple moving average is $64.63 and its 200 day simple moving average is $60.18.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The firm had revenue of $618.46 million for the quarter, compared to the consensus estimate of $604.00 million. During the same period in the previous year, the business posted $0.47 earnings per share. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Sell-side analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SYM. Royal Bank of Canada boosted its position in Symbotic by 28.8% during the 1st quarter. Royal Bank of Canada now owns 84,856 shares of the company’s stock worth $1,714,000 after acquiring an additional 18,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Symbotic by 15.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company’s stock worth $1,716,000 after purchasing an additional 11,098 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Symbotic by 24.0% during the second quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company’s stock worth $69,000 after purchasing an additional 342 shares during the period. PFG Investments LLC purchased a new position in Symbotic during the second quarter valued at approximately $255,000. Finally, J. Safra Sarasin Holding AG acquired a new position in Symbotic in the 2nd quarter valued at approximately $233,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Barclays upped their price target on shares of Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Monday, January 12th. Needham & Company LLC increased their target price on shares of Symbotic from $57.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. DA Davidson restated a “neutral” rating and set a $47.00 target price on shares of Symbotic in a report on Tuesday, November 25th. Cantor Fitzgerald upped their price target on Symbotic from $60.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Finally, Oppenheimer reiterated an “outperform” rating and set a $83.00 price objective on shares of Symbotic in a research report on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.79.

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.