Merline Saintil Sells 9,000 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) Director Merline Saintil sold 9,000 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $84.72, for a total transaction of $762,480.00. Following the sale, the director directly owned 68,413 shares of the company’s stock, valued at $5,795,949.36. The trade was a 11.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Symbotic Trading Down 21.5%

NASDAQ:SYM opened at $66.95 on Wednesday. The company has a market cap of $39.60 billion, a P/E ratio of -446.33, a P/E/G ratio of 24.20 and a beta of 2.10. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $87.88. The company’s 50-day moving average price is $67.35 and its 200-day moving average price is $52.07.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Monday, November 24th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The business had revenue of $618.46 million during the quarter, compared to analyst estimates of $604.00 million. During the same quarter in the previous year, the company posted $0.47 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. On average, analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently modified their holdings of SYM. Allworth Financial LP increased its position in shares of Symbotic by 504.2% during the 3rd quarter. Allworth Financial LP now owns 2,000 shares of the company’s stock worth $108,000 after purchasing an additional 1,669 shares during the last quarter. IFP Advisors Inc boosted its stake in Symbotic by 96.4% during the third quarter. IFP Advisors Inc now owns 1,516 shares of the company’s stock worth $82,000 after buying an additional 744 shares during the period. Strategic Advocates LLC acquired a new stake in shares of Symbotic during the third quarter valued at about $42,000. CIBC Private Wealth Group LLC raised its stake in shares of Symbotic by 209.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,846 shares of the company’s stock valued at $99,000 after acquiring an additional 1,250 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Symbotic in the 3rd quarter worth approximately $315,000.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Symbotic from a “sell” rating to a “hold” rating in a research report on Sunday. Needham & Company LLC lifted their price target on Symbotic from $57.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Robert W. Baird boosted their price target on shares of Symbotic from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Baird R W lowered shares of Symbotic from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Symbotic in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $56.07.

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.