Symbotic (NASDAQ:SYM) Insider Sells $399,953.33 in Stock

Symbotic Inc. (NASDAQ:SYM) insider Maria Freve sold 6,667 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $59.99, for a total value of $399,953.33. Following the completion of the transaction, the insider owned 8,845 shares of the company’s stock, valued at approximately $530,611.55. This represents a 42.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Symbotic Stock Up 2.0%

Symbotic stock opened at $56.20 on Friday. The firm has a market capitalization of $33.24 billion, a PE ratio of -374.67, a P/E/G ratio of 15.63 and a beta of 2.13. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $87.88. The firm’s 50-day simple moving average is $64.68 and its 200 day simple moving average is $60.12.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, November 24th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $604.00 million. During the same quarter last year, the business posted $0.47 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. On average, research analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Institutional Trading of Symbotic

Several institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in shares of Symbotic by 28.8% in the 1st quarter. Royal Bank of Canada now owns 84,856 shares of the company’s stock worth $1,714,000 after buying an additional 18,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Symbotic by 15.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company’s stock worth $1,716,000 after purchasing an additional 11,098 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Symbotic by 24.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company’s stock valued at $69,000 after purchasing an additional 342 shares in the last quarter. PFG Investments LLC acquired a new position in shares of Symbotic in the 2nd quarter valued at about $255,000. Finally, J. Safra Sarasin Holding AG purchased a new stake in shares of Symbotic during the 2nd quarter worth about $233,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Needham & Company LLC increased their target price on Symbotic from $57.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Northland Securities increased their price objective on Symbotic from $56.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Citigroup lifted their price objective on Symbotic from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Symbotic from $55.00 to $63.00 and gave the company a “hold” rating in a report on Tuesday, November 25th. Finally, Cantor Fitzgerald lifted their price target on shares of Symbotic from $60.00 to $82.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Symbotic currently has a consensus rating of “Hold” and a consensus price target of $56.79.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.