David Ladensohn Sells 23,000 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) major shareholder David Ladensohn sold 23,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $66.75, for a total transaction of $1,535,250.00. Following the completion of the transaction, the insider directly owned 5,000 shares in the company, valued at approximately $333,750. The trade was a 82.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Symbotic Stock Performance

Shares of SYM stock opened at $63.73 on Friday. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $71.29. The stock has a market cap of $37.63 billion, a PE ratio of -910.28, a PEG ratio of 12.36 and a beta of 2.06. The firm’s 50 day moving average price is $53.19 and its two-hundred day moving average price is $39.31.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.08). Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The business had revenue of $592.12 million during the quarter, compared to the consensus estimate of $533.55 million. During the same period in the previous year, the business posted ($0.02) earnings per share. Symbotic’s revenue was up 25.9% compared to the same quarter last year. As a group, sell-side analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SYM shares. DA Davidson reissued a “neutral” rating and set a $47.00 price target (up from $35.00) on shares of Symbotic in a research report on Monday, August 25th. Arete cut shares of Symbotic from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research report on Friday, July 25th. Barclays started coverage on shares of Symbotic in a research report on Tuesday. They set an “underweight” rating and a $38.00 price target on the stock. Northland Securities lifted their price target on shares of Symbotic from $35.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Finally, Northcoast Research set a $65.00 price target on shares of Symbotic and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Seven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $44.61.

Institutional Investors Weigh In On Symbotic

Several institutional investors have recently added to or reduced their stakes in SYM. GAMMA Investing LLC lifted its position in Symbotic by 1,812.2% in the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company’s stock valued at $29,000 after acquiring an additional 1,341 shares in the last quarter. Ulland Investment Advisors LLC bought a new stake in Symbotic in the 1st quarter valued at $31,000. AdvisorNet Financial Inc bought a new stake in Symbotic in the 2nd quarter valued at $32,000. IAG Wealth Partners LLC bought a new position in shares of Symbotic during the 2nd quarter worth approximately $32,000. Finally, Gables Capital Management Inc. bought a new position in shares of Symbotic during the 2nd quarter worth approximately $39,000.

Symbotic Company Profile

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.