David Ladensohn Sells 13,500 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) major shareholder David Ladensohn sold 13,500 shares of the business’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $74.44, for a total value of $1,004,940.00. Following the transaction, the insider directly owned 2,000 shares in the company, valued at approximately $148,880. This trade represents a 87.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Symbotic Stock Down 5.1%

SYM opened at $68.52 on Friday. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $79.58. The business has a 50 day moving average of $54.54 and a 200-day moving average of $41.08. The stock has a market cap of $40.46 billion, a price-to-earnings ratio of -978.72, a PEG ratio of 11.54 and a beta of 2.06.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.08). Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The business had revenue of $592.12 million during the quarter, compared to the consensus estimate of $533.55 million. During the same quarter last year, the company posted ($0.02) EPS. The firm’s revenue was up 25.9% on a year-over-year basis. As a group, analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on SYM. DA Davidson reaffirmed a “neutral” rating and set a $47.00 target price (up previously from $35.00) on shares of Symbotic in a report on Monday, August 25th. Baird R W cut shares of Symbotic from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Needham & Company LLC raised their price objective on shares of Symbotic from $32.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft downgraded Symbotic from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Friday, July 18th. Finally, Northcoast Research set a $65.00 price target on Symbotic and gave the stock a “buy” rating in a report on Thursday, October 2nd. Seven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $44.61.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. IAG Wealth Partners LLC bought a new stake in shares of Symbotic in the second quarter valued at approximately $32,000. AdvisorNet Financial Inc acquired a new position in Symbotic in the 2nd quarter valued at $32,000. Gables Capital Management Inc. bought a new stake in shares of Symbotic during the 2nd quarter valued at $39,000. NewEdge Advisors LLC lifted its position in shares of Symbotic by 81.5% during the 2nd quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock valued at $50,000 after acquiring an additional 573 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Symbotic by 1,812.2% during the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company’s stock worth $29,000 after purchasing an additional 1,341 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.