Symbotic Inc. (NASDAQ:SYM) Insider Sells $73,416.00 in Stock

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 2,660 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $27.60, for a total transaction of $73,416.00. Following the sale, the insider now owns 40,812 shares in the company, valued at approximately $1,126,411.20. The trade was a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Symbotic Stock Performance

Shares of SYM opened at $26.09 on Friday. The firm has a market cap of $15.35 billion, a P/E ratio of -372.66, a price-to-earnings-growth ratio of 6.64 and a beta of 1.79. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $50.40. The firm’s 50-day simple moving average is $27.27 and its 200 day simple moving average is $26.44.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. As a group, equities analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SYM has been the topic of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a research note on Thursday, February 6th. BWS Financial reaffirmed a “sell” rating and set a $10.00 price target on shares of Symbotic in a research report on Tuesday, January 21st. Oppenheimer started coverage on shares of Symbotic in a report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price objective on the stock. Raymond James lowered shares of Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. Finally, KeyCorp reissued a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $38.33.

Institutional Investors Weigh In On Symbotic

Several hedge funds have recently modified their holdings of the company. IFP Advisors Inc increased its holdings in Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after purchasing an additional 503 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Symbotic in the fourth quarter valued at approximately $47,000. Arcadia Investment Management Corp MI bought a new position in Symbotic in the 3rd quarter valued at approximately $49,000. Private Trust Co. NA acquired a new stake in Symbotic during the 4th quarter worth approximately $47,000. Finally, RiverPark Advisors LLC grew its stake in shares of Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after purchasing an additional 1,211 shares during the last quarter.

Symbotic Company Profile

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.