James Kuffner Sells 18,987 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 18,987 shares of Symbotic stock in a transaction on Friday, July 24th. The stock was sold at an average price of $40.38, for a total value of $766,695.06. Following the sale, the chief technology officer directly owned 214,062 shares of the company’s stock, valued at $8,643,823.56. This represents a 8.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 Tuesday, May 26th, James Kuffner sold 3,878 shares of Symbotic stock. The shares were sold at an average price of $53.51, for a total transaction of $207,511.78.

Symbotic Stock Performance

NASDAQ:SYM traded down $0.38 during mid-day trading on Tuesday, reaching $41.12. 724,177 shares of the company’s stock were exchanged, compared to its average volume of 1,860,719. Symbotic Inc. has a one year low of $38.19 and a one year high of $87.88. The firm has a market capitalization of $24.78 billion, a PE ratio of -826.47, a price-to-earnings-growth ratio of 5.92 and a beta of 1.93. The business’s fifty day simple moving average is $44.09 and its two-hundred day simple moving average is $52.17.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The business had revenue of $676.48 million during the quarter, compared to the consensus estimate of $662.65 million. During the same period in the prior year, the firm earned ($0.04) EPS. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. As a group, equities research analysts forecast that Symbotic Inc. will post 0.23 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Weiss Ratings downgraded Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. DA Davidson reiterated a “buy” rating and set a $70.00 target price on shares of Symbotic in a research report on Monday, May 11th. The Goldman Sachs Group reduced their target price on Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a report on Tuesday, May 26th. Finally, Zacks Research cut Symbotic from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, Symbotic presently has a consensus rating of “Hold” and a consensus target price of $66.50.

Institutional Trading of Symbotic

Several large investors have recently made changes to their positions in SYM. Vanguard Group Inc. increased its stake in shares of Symbotic by 47.6% in the 4th quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock valued at $412,463,000 after purchasing an additional 2,237,137 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Symbotic by 51,346.1% in the fourth quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock valued at $129,375,000 after buying an additional 2,178,615 shares in the last quarter. Morgan Stanley grew its position in Symbotic by 85.4% in the fourth quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock valued at $150,587,000 after acquiring an additional 1,165,513 shares during the last quarter. Ghisallo Capital Management LLC bought a new position in Symbotic in the fourth quarter valued at about $63,034,000. Finally, Marshall Wace LLP acquired a new position in Symbotic during the fourth quarter worth about $33,997,000.

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.