James Kuffner Sells 8,348 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) CTO James Kuffner sold 8,348 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $81.30, for a total transaction of $678,692.40. Following the completion of the transaction, the chief technology officer owned 30,640 shares of the company’s stock, valued at approximately $2,491,032. The trade was a 21.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Symbotic Stock Down 21.5%

Shares of SYM opened at $66.95 on Wednesday. The business’s 50 day moving average price is $67.35 and its 200-day moving average price is $52.07. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $87.88. The stock has a market cap of $39.60 billion, a P/E ratio of -446.33, a P/E/G ratio of 24.20 and a beta of 2.10.

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

Wall Street Analysts Forecast Growth

SYM has been the topic of a number of research reports. Wall Street Zen upgraded Symbotic from a “sell” rating to a “hold” rating in a research note on Sunday. Barclays raised their target price on Symbotic from $38.00 to $41.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 26th. Oppenheimer reaffirmed an “outperform” rating and set a $83.00 price target on shares of Symbotic in a research report on Tuesday, November 25th. Northcoast Research downgraded shares of Symbotic from a “buy” rating to a “neutral” rating in a report on Tuesday, November 25th. Finally, Citigroup upped their target price on shares of Symbotic from $60.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Symbotic has an average rating of “Hold” and a consensus price target of $56.07.

Institutional Investors Weigh In On Symbotic

Institutional investors and hedge funds have recently modified their holdings of the stock. MAI Capital Management grew its stake in Symbotic by 833.3% during the third quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares in the last quarter. AdvisorNet Financial Inc bought a new position in shares of Symbotic during the 2nd quarter valued at about $32,000. IAG Wealth Partners LLC purchased a new position in shares of Symbotic during the second quarter valued at about $32,000. Ameriflex Group Inc. increased its holdings in shares of Symbotic by 1,500.0% in the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after purchasing an additional 660 shares during the last quarter. Finally, Gables Capital Management Inc. purchased a new stake in shares of Symbotic in the second quarter worth about $39,000.

About Symbotic

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.