Symbotic (NASDAQ:SYM) SVP Brian Daniel Alexander Sells 37,860 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) SVP Brian Daniel Alexander sold 37,860 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president owned 44,229 shares in the company, valued at $2,652,413.13. This represents a 46.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Symbotic Stock Performance

Shares of Symbotic stock opened at $59.52 on Tuesday. Symbotic Inc. has a 52-week low of $20.50 and a 52-week high of $87.88. 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 company’s 50 day moving average price is $54.43 and its 200-day moving average price is $61.16.

Symbotic (NASDAQ:SYM) last issued its earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share (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 firm had revenue of $629.99 million during the quarter, compared to the consensus estimate of $622.58 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. As a group, equities research analysts forecast that Symbotic Inc. will post 0.33 earnings per share for the current fiscal year.

Institutional Trading of Symbotic

A number of hedge funds have recently modified their holdings of SYM. Centerpoint Advisors LLC raised its position in Symbotic by 16.7% in the 3rd quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock worth $75,000 after buying an additional 200 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its holdings in shares of Symbotic by 5.2% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,493 shares of the company’s stock valued at $267,000 after acquiring an additional 224 shares during the last quarter. Barton Investment Management grew its stake in shares of Symbotic by 0.8% in the fourth quarter. Barton Investment Management now owns 30,658 shares of the company’s stock worth $1,824,000 after acquiring an additional 233 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Symbotic by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,375 shares of the company’s stock worth $677,000 after acquiring an additional 236 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of Symbotic by 67.3% during the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after purchasing an additional 249 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently weighed in on SYM. The Goldman Sachs Group reiterated a “sell” rating and issued a $50.00 price target on shares of Symbotic in a report on Thursday, January 15th. UBS Group set a $70.00 price target on shares of Symbotic in a report on Wednesday, February 18th. Northland Securities set a $73.00 price target on shares of Symbotic in a report on Thursday, February 5th. Wall Street Zen cut shares of Symbotic from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Symbotic presently has an average rating of “Hold” and a consensus target price of $65.62.

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.