Symbotic Inc. (NASDAQ:SYM – Get Free Report) major shareholder David Ladensohn sold 23,000 shares of the business’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $66.75, for a total value of $1,535,250.00. Following the sale, the insider owned 5,000 shares of the company’s stock, valued at approximately $333,750. The trade was a 82.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Symbotic Stock Down 5.1%
Shares of Symbotic stock opened at $63.73 on Monday. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $71.29. The firm’s 50 day moving average is $53.19 and its two-hundred day moving average is $39.43. The firm has a market capitalization of $37.63 billion, a P/E ratio of -910.28, a P/E/G ratio of 12.36 and a beta of 2.06.
Symbotic (NASDAQ:SYM – Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.08). The company had revenue of $592.12 million during the quarter, compared to analyst estimates of $533.55 million. Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The company’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.02) EPS. As a group, research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
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Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Private Trust Co. NA grew its position in Symbotic by 10.0% during the second quarter. Private Trust Co. NA now owns 2,200 shares of the company’s stock worth $85,000 after buying an additional 200 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Symbotic by 24.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company’s stock worth $69,000 after acquiring an additional 342 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Symbotic by 7.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,354 shares of the company’s stock worth $247,000 after acquiring an additional 422 shares in the last quarter. Main Management ETF Advisors LLC grew its holdings in shares of Symbotic by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 29,320 shares of the company’s stock worth $1,139,000 after acquiring an additional 480 shares during the period. Finally, NewEdge Advisors LLC increased its stake in Symbotic by 81.5% in the 2nd quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock valued at $50,000 after purchasing an additional 573 shares in the last quarter.
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.
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