William M. Boyd III Sells 2,455 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 2,455 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $22.31, for a total transaction of $54,771.05. Following the completion of the sale, the insider now directly owns 39,659 shares in the company, valued at approximately $884,792.29. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Symbotic Trading Up 0.7 %

Shares of SYM opened at $21.65 on Friday. The firm has a market cap of $12.74 billion, a PE ratio of -309.24, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85. The company’s 50 day simple moving average is $26.14 and its 200-day simple moving average is $26.46. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $50.41.

Symbotic (NASDAQ:SYM) last announced its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 research analysts forecast that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Symbotic

Several hedge funds have recently modified their holdings of the stock. IFP Advisors Inc lifted its holdings in shares of Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after purchasing an additional 503 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Symbotic by 1.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company’s stock worth $1,154,000 after purchasing an additional 619 shares during the period. National Bank of Canada FI lifted its holdings in shares of Symbotic by 36.8% during the third quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock worth $87,000 after purchasing an additional 957 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Symbotic by 40.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company’s stock worth $85,000 after purchasing an additional 1,018 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of Symbotic by 5.7% during the fourth quarter. Cetera Investment Advisers now owns 24,621 shares of the company’s stock worth $584,000 after purchasing an additional 1,332 shares during the period.

Wall Street Analyst Weigh In

SYM has been the topic of several analyst reports. Craig Hallum cut shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a report on Wednesday, November 27th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. Citigroup reiterated a “buy” rating and issued a $37.00 price target on shares of Symbotic in a research note on Monday, January 13th. Oppenheimer started coverage on shares of Symbotic in a research note on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, Needham & Company LLC dropped their price target on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Symbotic has an average rating of “Hold” and an average price target of $38.20.

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.