Symbotic Inc. (NASDAQ:SYM – Get Free Report) CTO James Kuffner sold 18,987 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $40.38, for a total transaction of $766,695.06. Following the completion of the transaction, the chief technology officer directly owned 214,062 shares of the company’s stock, valued at approximately $8,643,823.56. The trade was a 8.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
James Kuffner also recently made the following trade(s):
- On Tuesday, May 26th, James Kuffner sold 3,878 shares of Symbotic stock. The stock was sold at an average price of $53.51, for a total transaction of $207,511.78.
Symbotic Stock Down 0.9%
Shares of NASDAQ:SYM traded down $0.38 during trading on Tuesday, hitting $41.12. 724,177 shares of the company were exchanged, compared to its average volume of 1,860,719. The business’s 50 day moving average is $44.09 and its 200-day moving average is $52.17. The company has a market capitalization of $24.78 billion, a P/E ratio of -826.47, a price-to-earnings-growth ratio of 5.92 and a beta of 1.93. Symbotic Inc. has a 1-year low of $38.19 and a 1-year high of $87.88.
Analyst Upgrades and Downgrades
SYM has been the topic of a number of recent research reports. DA Davidson reissued a “buy” rating and set a $70.00 price target on shares of Symbotic in a research note on Monday, May 11th. Weiss Ratings downgraded Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. The Goldman Sachs Group dropped their price objective on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a report on Tuesday, May 26th. Finally, Zacks Research lowered shares of Symbotic from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, Symbotic currently has a consensus rating of “Hold” and a consensus price target of $66.50.
Get Our Latest Analysis on Symbotic
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust grew its position 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 buying an additional 268 shares during the last quarter. Quarry LP acquired a new position in shares of Symbotic in the fourth quarter worth approximately $36,000. Parallel Advisors LLC lifted its stake in shares of Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after acquiring an additional 249 shares during the period. Gordian Capital Singapore Pte Ltd bought a new stake in Symbotic in the fourth quarter valued at approximately $48,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Symbotic in the fourth quarter valued at approximately $55,000.
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.
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