Symbotic (NASDAQ:SYM) Insider William Boyd III Sells 2,455 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider William Boyd III sold 2,455 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $60.51, for a total transaction of $148,552.05. Following the sale, the insider owned 24,314 shares of the company’s stock, valued at $1,471,240.14. This trade represents a 9.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Symbotic Stock Performance

Shares of Symbotic stock traded up $4.20 during trading hours on Thursday, reaching $60.19. The company’s stock had a trading volume of 542,034 shares, compared to its average volume of 2,191,478. Symbotic Inc. has a one year low of $16.32 and a one year high of $87.88. The company has a market capitalization of $35.60 billion, a P/E ratio of -399.14, a P/E/G ratio of 17.78 and a beta of 2.10. The stock’s fifty day simple moving average is $67.86 and its two-hundred day simple moving average is $54.44.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on SYM. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Cowen reiterated a “buy” rating on shares of Symbotic in a report on Wednesday, December 3rd. Robert W. Baird increased their price target on Symbotic from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. UBS Group restated a “sell” rating and set a $35.00 price objective (up from $27.00) on shares of Symbotic in a research note on Tuesday, September 23rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Symbotic in a research note on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $56.50.

Institutional Trading of Symbotic

A number of hedge funds have recently bought and sold shares of the business. LPL Financial LLC grew its stake in Symbotic by 58.8% in the 1st quarter. LPL Financial LLC now owns 68,531 shares of the company’s stock valued at $1,385,000 after purchasing an additional 25,364 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Symbotic by 54.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,932 shares of the company’s stock worth $120,000 after buying an additional 2,100 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Symbotic by 0.9% in the 1st quarter. Swiss National Bank now owns 82,400 shares of the company’s stock worth $1,665,000 after buying an additional 700 shares during the last quarter. HighTower Advisors LLC grew its position in Symbotic by 28.8% during the first quarter. HighTower Advisors LLC now owns 33,955 shares of the company’s stock valued at $686,000 after buying an additional 7,584 shares during the period. Finally, Raymond James Financial Inc. increased its holdings in Symbotic by 12.1% during the first quarter. Raymond James Financial Inc. now owns 980,922 shares of the company’s stock worth $19,824,000 after buying an additional 105,616 shares during the last quarter.

About Symbotic

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.