Symbotic (NASDAQ:SYM) Shares Down 0.4% After Insider Selling

Shares of Symbotic Inc. (NASDAQ:SYM) traded down 0.4% during trading on Wednesday following insider selling activity. The stock traded as low as $38.26 and last traded at $38.42. 141,360 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 1,385,453 shares. The stock had previously closed at $38.57.

Specifically, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $51.50, for a total transaction of $103,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $51.50, for a total value of $103,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William M. Boyd III sold 8,825 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $40.34, for a total value of $356,000.50. Following the completion of the transaction, the insider now directly owns 23,012 shares in the company, valued at $928,304.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,110,447 shares of company stock worth $275,433,529. 38.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SYM shares. The Goldman Sachs Group lowered their price target on Symbotic from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Robert W. Baird decreased their price objective on Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. KeyCorp decreased their price objective on Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Symbotic has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Symbotic Trading Down 0.4 %

The stock has a market cap of $22.17 billion, a P/E ratio of -142.30 and a beta of 1.91. The company has a 50-day moving average price of $42.97 and a two-hundred day moving average price of $44.24.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $368.45 million for the quarter, compared to the consensus estimate of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. As a group, equities analysts forecast that Symbotic Inc. will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Symbotic

Hedge funds have recently bought and sold shares of the business. Barclays PLC grew its position in Symbotic by 195.5% in the 3rd quarter. Barclays PLC now owns 8,008 shares of the company’s stock valued at $268,000 after acquiring an additional 5,298 shares during the last quarter. Aigen Investment Management LP bought a new position in Symbotic in the 3rd quarter valued at $545,000. LPL Financial LLC grew its position in Symbotic by 578.0% in the 3rd quarter. LPL Financial LLC now owns 102,059 shares of the company’s stock valued at $3,412,000 after acquiring an additional 87,006 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Symbotic by 176.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 75,527 shares of the company’s stock valued at $2,525,000 after acquiring an additional 48,214 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Symbotic in the 3rd quarter valued at $1,101,000.

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.