Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Symbotic Inc. insider executes multimillion-dollar stock sale

Published 2024-05-24, 07:40 p/m
© Reuters.
SYM
-

Symbotic Inc. (NASDAQ:SYM), a company specializing in general industrial machinery and equipment, has reported a series of insider transactions involving David A. Ladensohn, a significant shareholder. Ladensohn carried out stock sales totaling approximately $3.13 million. The transactions, which occurred over several days, involved shares of Class A common stock sold at prices ranging from $40.8649 to $43.2621.

On May 22, 2024, Ladensohn sold 25,000 shares of Symbotic Inc.'s Class A common stock, realizing an average price of $43.2621 per share. The shares were sold in multiple transactions, with prices fluctuating within the stated range. This sale was part of a larger set of transactions that also saw the redemption of Symbotic Holdings Units equivalent to the sold Class A shares.

Additionally, on May 24, 2024, Ladensohn continued with the sale of Symbotic Inc.'s Class A common stock, disposing of 48,699 shares at prices between $40.64 and $41.63, followed by a smaller transaction of 1,301 shares at prices ranging from $41.64 to $42.05. These sales were also connected to redemptions of Symbotic Holdings Units.

It's important to note that Ladensohn may be considered the beneficial owner of shares held by various trusts, as indicated by footnotes in the SEC filing. However, Ladensohn disclaims beneficial ownership of these securities, and the filing of the Form 4 should not be viewed as an admission of beneficial ownership for Section 16 of the Exchange Act or any other purpose.

Investors following Symbotic Inc. may find these transactions of interest as they reflect insider activity and potential shifts in ownership stakes. Insider transactions can sometimes provide insights into the company's performance and insiders' perspectives on the company's value.

InvestingPro Insights

In light of the recent insider transactions at Symbotic Inc. (NASDAQ:SYM), investors looking to understand the company's financial health and future prospects can turn to metrics and insights from InvestingPro. Symbotic, with a market capitalization of $23.92 billion, is trading at a high Price / Book multiple of 58.01 as of the last twelve months ending Q2 2024. This valuation indicates a significant premium over the company's book value, pointing to high investor expectations for future growth.

Despite the high valuation, the company's revenue growth is robust, with a notable increase of 67.55% in the last twelve months as of Q2 2024. This surge in revenue is consistent with the InvestingPro Tips, which highlight that analysts anticipate sales growth in the current year. Additionally, Symbotic's gross profit margin stands at 18.36%, which could be a signal of the company's ability to manage its cost of goods sold effectively.

InvestingPro Tips also suggest that Symbotic Inc. is expected to become profitable this year, which could be a turning point for the company that has been not profitable over the last twelve months. Moreover, with analysts having revised their earnings upwards for the upcoming period, there is optimism surrounding the company's earnings potential. For investors intrigued by these insights, there are additional InvestingPro Tips available at https://www.investing.com/pro/SYM, which could further inform their investment decisions.

To gain full access to these valuable insights, investors are encouraged to take advantage of a special offer using the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. With a comprehensive range of metrics and expert analysis, InvestingPro provides a more in-depth look at companies like Symbotic Inc., offering investors a strategic edge in the market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.