Insider Selling: Symbotic (NASDAQ:SYM) Insider Sells $286,388.85 in Stock

Symbotic Inc. (NASDAQ:SYM) insider William Boyd III sold 5,115 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $55.99, for a total transaction of $286,388.85. Following the completion of the transaction, the insider owned 61,679 shares of the company’s stock, valued at approximately $3,453,407.21. This represents a 7.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Symbotic Stock Performance

SYM stock opened at $53.37 on Monday. The firm has a market cap of $32.14 billion, a PE ratio of -533.65, a P/E/G ratio of 5.35 and a beta of 2.10. The firm’s fifty day moving average is $53.96 and its 200 day moving average is $61.24. Symbotic Inc. has a one year low of $16.32 and a one year high of $87.88.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The firm had revenue of $629.99 million during the quarter, compared to analyst estimates of $622.58 million. During the same quarter last year, the company posted ($0.03) EPS. The company’s revenue was up 29.4% on a year-over-year basis. Research analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SYM shares. UBS Group set a $70.00 price target on Symbotic in a research report on Wednesday, February 18th. Citigroup reaffirmed an “outperform” rating on shares of Symbotic in a research note on Thursday, February 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Symbotic in a research report on Thursday, January 22nd. Northland Securities set a $73.00 price target on shares of Symbotic in a report on Thursday, February 5th. Finally, Needham & Company LLC upped their price objective on shares of Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $64.62.

Institutional Trading of Symbotic

A number of hedge funds have recently bought and sold shares of SYM. MAI Capital Management lifted its stake in Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Symbotic by 100.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock valued at $32,000 after purchasing an additional 268 shares in the last quarter. Quarry LP acquired a new stake in shares of Symbotic in the fourth quarter valued at approximately $36,000. Parallel Advisors LLC lifted its position in Symbotic by 67.3% during the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after buying an additional 249 shares in the last quarter. Finally, Ameriflex Group Inc. lifted its position in Symbotic by 1,500.0% during the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after buying an additional 660 shares in the last quarter.

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.