Symbotic Inc. (NASDAQ:SYM) Insider Sells $54,771.05 in Stock

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 2,455 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $22.31, for a total transaction of $54,771.05. Following the sale, the insider now directly owns 39,659 shares in the company, valued at $884,792.29. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Symbotic Trading Up 3.4 %

NASDAQ SYM opened at $22.39 on Friday. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $50.41. The stock has a market cap of $13.17 billion, a price-to-earnings ratio of -319.81, a PEG ratio of 6.48 and a beta of 1.85. The company’s 50 day moving average is $26.08 and its two-hundred day moving average is $26.48.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, February 5th. The company reported ($0.03) 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%. Sell-side analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

Analyst Upgrades and Downgrades

SYM has been the topic of several recent analyst reports. BWS Financial reissued a “sell” rating and set a $10.00 price objective on shares of Symbotic in a research report on Tuesday, January 21st. 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 report on Thursday, February 6th. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Wednesday, January 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price target on shares of Symbotic in a report on Thursday, February 6th. Finally, TD Cowen raised their price target on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $38.20.

Institutional Investors Weigh In On Symbotic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYM. IFP Advisors Inc raised its position in shares of Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after buying an additional 503 shares during the last quarter. Private Trust Co. NA bought a new stake in shares of Symbotic during the fourth quarter valued at approximately $47,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Symbotic during the fourth quarter valued at approximately $47,000. Jones Financial Companies Lllp raised its position in shares of Symbotic by 154.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock valued at $58,000 after buying an additional 1,490 shares during the last quarter. Finally, Quest Partners LLC raised its position in shares of Symbotic by 19,307.7% during the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after buying an additional 2,510 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.