Symbotic (NASDAQ:SYM) CTO James Kuffner Sells 19,729 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 19,729 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $59.82, for a total value of $1,180,188.78. Following the completion of the transaction, the chief technology officer directly owned 179,255 shares of the company’s stock, valued at $10,723,034.10. This trade represents a 9.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, February 25th, James Kuffner sold 3,669 shares of Symbotic stock. The stock was sold at an average price of $56.84, for a total transaction of $208,545.96.

Symbotic Trading Up 0.2%

Shares of Symbotic stock opened at $59.52 on Tuesday. The company has a fifty day simple moving average of $54.43 and a 200-day simple moving average of $61.16. The stock has a market cap of $35.84 billion, a price-to-earnings ratio of -595.14, a PEG ratio of 5.95 and a beta of 2.10. Symbotic Inc. has a 12-month low of $20.50 and a 12-month high of $87.88.

Symbotic (NASDAQ:SYM) last announced its quarterly 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 return on equity of 1.88% and a negative net margin of 0.45%.The company had revenue of $629.99 million for the quarter, compared to analyst estimates of $622.58 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. Symbotic’s revenue was up 29.4% compared to the same quarter last year. On average, analysts forecast that Symbotic Inc. will post 0.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on SYM shares. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $70.00 in a research report on Wednesday, April 15th. Citigroup reiterated an “outperform” rating on shares of Symbotic in a research report on Thursday, February 5th. Barclays raised their price objective on shares of Symbotic from $42.00 to $44.00 and gave the stock an “underweight” rating in a research report on Monday, March 16th. UBS Group set a $70.00 target price on shares of Symbotic in a research note on Wednesday, February 18th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Symbotic in a research report on Tuesday, April 21st. Seven research 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 data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $65.62.

Institutional Trading of Symbotic

Several hedge funds have recently modified their holdings of SYM. QRG Capital Management Inc. purchased a new stake in shares of Symbotic in the first quarter valued at approximately $253,000. Private Advisor Group LLC lifted its holdings in Symbotic by 12.0% in the first quarter. Private Advisor Group LLC now owns 19,257 shares of the company’s stock valued at $1,024,000 after acquiring an additional 2,070 shares during the period. Leonteq Securities AG boosted its position in shares of Symbotic by 16.3% during the 1st quarter. Leonteq Securities AG now owns 5,507 shares of the company’s stock worth $293,000 after purchasing an additional 772 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its position in shares of Symbotic by 115.3% during the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 1,996 shares of the company’s stock worth $106,000 after purchasing an additional 1,069 shares in the last quarter. Finally, Peregrine Asset Advisers Inc. acquired a new position in shares of Symbotic during the 1st quarter worth $2,379,000.

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.