Maria Freve Sells 8,306 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider Maria Freve sold 8,306 shares of the firm’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $55.11, for a total value of $457,743.66. Following the sale, the insider directly owned 539 shares of the company’s stock, valued at $29,704.29. This trade represents a 93.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Symbotic Stock Performance

Shares of NASDAQ SYM opened at $56.12 on Wednesday. The business has a 50 day simple moving average of $64.25 and a 200 day simple moving average of $60.31. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $87.88. The stock has a market cap of $33.20 billion, a price-to-earnings ratio of -374.13, a PEG ratio of 15.36 and a beta of 2.13.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data 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). The business had revenue of $618.46 million for the quarter, compared to the consensus estimate of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. Symbotic’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 EPS. On average, analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Institutional Trading of Symbotic

A number of hedge funds have recently bought and sold shares of the stock. Private Trust Co. NA raised its position in shares of Symbotic by 10.0% during the second quarter. Private Trust Co. NA now owns 2,200 shares of the company’s stock valued at $85,000 after buying an additional 200 shares during the last quarter. Centerpoint Advisors LLC increased its stake in Symbotic by 16.7% during the third quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock valued at $75,000 after acquiring an additional 200 shares during the period. Barton Investment Management increased its stake in Symbotic by 0.8% during the fourth quarter. Barton Investment Management now owns 30,658 shares of the company’s stock valued at $1,824,000 after acquiring an additional 233 shares during the period. PNC Financial Services Group Inc. raised its holdings in Symbotic by 4.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,627 shares of the company’s stock valued at $357,000 after acquiring an additional 273 shares in the last quarter. Finally, AlphaQuest LLC lifted its position in shares of Symbotic by 12.9% in the 3rd quarter. AlphaQuest LLC now owns 2,519 shares of the company’s stock worth $136,000 after acquiring an additional 287 shares during the period.

Analysts Set New Price Targets

Several equities analysts have weighed in on SYM shares. Cantor Fitzgerald raised their target price on Symbotic from $60.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. TD Cowen reissued a “buy” rating on shares of Symbotic in a report on Wednesday, December 3rd. Citigroup raised their price objective on Symbotic from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Oppenheimer reaffirmed an “outperform” rating and set a $83.00 target price on shares of Symbotic in a research report on Tuesday, November 25th. Finally, Northland Securities lifted their price target on shares of Symbotic from $56.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Symbotic presently has an average rating of “Hold” and an average price target of $56.79.

About Symbotic

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.