James Kuffner Sells 77,321 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 77,321 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $59.76, for a total value of $4,620,702.96. Following the completion of the transaction, the chief technology officer owned 144,982 shares of the company’s stock, valued at $8,664,124.32. This represents a 34.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, November 26th, James Kuffner sold 8,348 shares of Symbotic stock. The shares were sold at an average price of $81.30, for a total transaction of $678,692.40.

Symbotic Stock Down 6.6%

SYM opened at $55.10 on Thursday. The stock has a market capitalization of $32.59 billion, a price-to-earnings ratio of -367.33, a PEG ratio of 16.73 and a beta of 2.13. The firm has a 50 day moving average price of $64.65 and a 200-day moving average price of $60.14. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $87.88.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Monday, November 24th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm had revenue of $618.46 million for the quarter, compared to the consensus estimate of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. Symbotic’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share. As a group, analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SYM shares. Cantor Fitzgerald lifted their target price on Symbotic from $60.00 to $82.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Symbotic from $55.00 to $63.00 and gave the company a “hold” rating in a report on Tuesday, November 25th. Northland Securities raised their price objective on Symbotic from $56.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. DA Davidson reissued a “neutral” rating and issued a $47.00 target price on shares of Symbotic in a report on Tuesday, November 25th. Finally, Barclays increased their price target on shares of Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Monday, January 12th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Symbotic presently has a consensus rating of “Hold” and an average target price of $56.79.

Hedge Funds Weigh In On Symbotic

A number of institutional investors have recently modified their holdings of SYM. Royal Bank of Canada grew its position in shares of Symbotic by 28.8% during the 1st quarter. Royal Bank of Canada now owns 84,856 shares of the company’s stock worth $1,714,000 after buying an additional 18,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Symbotic by 15.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company’s stock valued at $1,716,000 after buying an additional 11,098 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Symbotic by 24.0% during the second quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company’s stock valued at $69,000 after acquiring an additional 342 shares in the last quarter. PFG Investments LLC acquired a new position in Symbotic during the 2nd quarter valued at approximately $255,000. Finally, J. Safra Sarasin Holding AG purchased a new stake in shares of Symbotic during the second quarter valued at $233,000.

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.