Symbotic (NASDAQ:SYM) Insider Sells 5,115 Shares

Symbotic Inc. (NASDAQ:SYM) insider William Boyd III sold 5,115 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.15, for a total transaction of $230,942.25. Following the completion of the sale, the insider owned 57,112 shares in the company, valued at approximately $2,578,606.80. This trade represents a 8.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Symbotic Trading Up 4.0%

NASDAQ:SYM opened at $44.46 on Tuesday. Symbotic Inc. has a one year low of $38.19 and a one year high of $87.88. The stock has a 50-day simple moving average of $47.84 and a 200 day simple moving average of $54.14.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.11). Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The firm had revenue of $676.48 million for the quarter, compared to analyst estimates of $662.65 million. During the same quarter in the previous year, the company earned ($0.04) EPS. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. Equities research analysts predict that Symbotic Inc. will post 0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SYM has been the topic of several research analyst reports. Barclays raised their price objective on Symbotic from $42.00 to $44.00 and gave the stock an “underweight” rating in a research note on Monday, March 16th. The Goldman Sachs Group dropped their target price on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a report on Tuesday, May 26th. DA Davidson reaffirmed a “buy” rating and issued a $70.00 price target on shares of Symbotic in a report on Monday, May 11th. Finally, Weiss Ratings downgraded shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $65.23.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its position in Symbotic by 100.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after purchasing an additional 268 shares during the last quarter. MAI Capital Management boosted its position in shares of Symbotic by 833.3% during the third quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after buying an additional 500 shares during the period. Quarry LP bought a new position in Symbotic in the 4th quarter worth approximately $36,000. Parallel Advisors LLC increased its position in Symbotic by 67.3% in the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after acquiring an additional 249 shares during the period. Finally, Ameriflex Group Inc. increased its position in Symbotic by 1,500.0% in the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock valued at $38,000 after acquiring an additional 660 shares during the period.

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.