Symbotic (NASDAQ:SYM) SVP Brian Daniel Alexander Sells 9,130 Shares

Symbotic Inc. (NASDAQ:SYM) SVP Brian Daniel Alexander sold 9,130 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $40.30, for a total value of $367,939.00. Following the completion of the sale, the senior vice president owned 55,611 shares in the company, valued at approximately $2,241,123.30. This represents a 14.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Symbotic Trading Up 2.0%

SYM opened at $42.34 on Wednesday. Symbotic Inc. has a 12-month low of $38.19 and a 12-month high of $87.88. The firm has a market capitalization of $25.52 billion, a PE ratio of -846.63, a P/E/G ratio of 6.12 and a beta of 1.93. The firm has a 50 day moving average of $44.00 and a two-hundred day moving average of $51.98.

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

Hedge Funds Weigh In On Symbotic

Institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust lifted its stake in shares of Symbotic by 100.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock valued at $32,000 after purchasing an additional 268 shares during the period. Quarry LP purchased a new stake in Symbotic during the fourth quarter worth $36,000. Parallel Advisors LLC grew its position in 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 buying an additional 249 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new stake in Symbotic during the fourth quarter valued at $48,000. Finally, NewEdge Advisors LLC increased its holdings in Symbotic by 81.5% in the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock valued at $50,000 after buying an additional 573 shares in the last quarter.

Analyst Ratings Changes

SYM has been the subject of a number of research reports. The Goldman Sachs Group decreased their target price on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a research report on Tuesday, May 26th. Weiss Ratings lowered Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Zacks Research lowered Symbotic from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, DA Davidson reissued a “buy” rating and issued a $70.00 price objective on shares of Symbotic in a report on Monday, May 11th. Seven equities 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 stock. According to data from MarketBeat, Symbotic presently has a consensus rating of “Hold” and an average price target of $66.50.

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.