Insider Selling: Symbotic Inc. (NASDAQ:SYM) CFO Sells 4,055 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) CFO Carol J. Hibbard sold 4,055 shares of Symbotic stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total transaction of $124,488.50. Following the sale, the chief financial officer now directly owns 44,386 shares of the company’s stock, valued at $1,362,650.20. This trade represents a 8.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Symbotic Stock Performance

SYM stock opened at $25.99 on Friday. The company has a 50-day moving average of $27.11 and a two-hundred day moving average of $26.82. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $50.40.

Symbotic (NASDAQ:SYM) last announced its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. Equities analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on SYM. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a report on Thursday. The Goldman Sachs Group cut their price target on Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday. Needham & Company LLC lowered their price target on Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. Finally, DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $38.33.

Institutional Investors Weigh In On Symbotic

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in Symbotic by 10.2% in the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock valued at $12,290,000 after purchasing an additional 46,721 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Symbotic during the third quarter valued at about $1,029,000. Capital Market Strategies LLC bought a new stake in shares of Symbotic in the fourth quarter valued at about $802,000. Baillie Gifford & Co. grew its position in Symbotic by 32.0% during the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after buying an additional 3,410,050 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Symbotic by 10.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock valued at $5,343,000 after acquiring an additional 20,469 shares during the period.

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.