Symbotic (NASDAQ:SYM) Insider Sells $1,035,000.00 in Stock

Symbotic Inc. (NASDAQ:SYM) insider William Boyd III sold 15,000 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Symbotic Stock Up 2.7%

Shares of NASDAQ:SYM traded up $1.83 during trading on Tuesday, hitting $70.45. 1,892,517 shares of the company traded hands, compared to its average volume of 2,307,616. The business’s fifty day moving average is $65.52 and its 200-day moving average is $57.34. The stock has a market capitalization of $41.67 billion, a price-to-earnings ratio of -469.67, a PEG ratio of 18.40 and a beta of 2.13. Symbotic Inc. has a one year low of $16.32 and a one year high of $87.88.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The company had revenue of $618.46 million for the quarter, compared to analyst estimates of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. On average, analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

Analyst Ratings Changes

SYM has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a report on Tuesday, November 25th. The Goldman Sachs Group lowered Symbotic from a “neutral” rating to a “sell” rating and set a $47.00 price objective for the company. in a report on Tuesday, December 2nd. Cowen reaffirmed a “buy” rating on shares of Symbotic in a research note on Wednesday, December 3rd. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Finally, Robert W. Baird lifted their price objective on shares of Symbotic from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $56.50.

Institutional Investors Weigh In On Symbotic

A number of institutional investors and hedge funds have recently bought and sold shares of SYM. MAI Capital Management lifted its holdings in shares of Symbotic by 833.3% during the third quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after purchasing an additional 500 shares during the last quarter. AdvisorNet Financial Inc acquired a new stake in Symbotic during the 2nd quarter worth about $32,000. IAG Wealth Partners LLC purchased a new stake in Symbotic during the second quarter valued at about $32,000. Ameriflex Group Inc. boosted its holdings in shares of Symbotic by 1,500.0% in the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after buying an additional 660 shares during the period. Finally, Gables Capital Management Inc. purchased a new position in shares of Symbotic in the second quarter worth approximately $39,000.

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.