Insider Selling: Symbotic (NASDAQ:SYM) Director Sells 3,414 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) Director Merline Saintil sold 3,414 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $50.82, for a total transaction of $173,499.48. Following the completion of the sale, the director owned 75,344 shares of the company’s stock, valued at approximately $3,828,982.08. This represents a 4.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Symbotic Stock Performance

SYM stock traded down $1.15 during midday trading on Friday, hitting $49.43. 2,190,484 shares of the company’s stock were exchanged, compared to its average volume of 1,272,249. Symbotic Inc. has a one year low of $16.32 and a one year high of $87.88. The company has a market cap of $29.77 billion, a PE ratio of -494.25, a price-to-earnings-growth ratio of 5.07 and a beta of 2.13. The stock’s fifty day moving average price is $58.68 and its 200-day moving average price is $60.67.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.06). The business had revenue of $629.99 million during the quarter, compared to the consensus estimate of $622.58 million. Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The firm’s revenue was up 29.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) earnings per share. On average, analysts expect that Symbotic Inc. will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Symbotic

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Symbotic by 47.6% during the 4th quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock worth $412,463,000 after acquiring an additional 2,237,137 shares during the last quarter. Morgan Stanley raised its holdings in shares of Symbotic by 85.4% in the fourth quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock valued at $150,587,000 after purchasing an additional 1,165,513 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Symbotic by 51,346.1% in the fourth quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock valued at $129,375,000 after purchasing an additional 2,178,615 shares during the last quarter. UBS Group AG lifted its position in shares of Symbotic by 22.3% in the third quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock worth $59,601,000 after purchasing an additional 201,547 shares in the last quarter. Finally, Ghisallo Capital Management LLC bought a new stake in shares of Symbotic in the fourth quarter worth $63,034,000.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays raised their target price on shares of Symbotic from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Monday, January 12th. The Goldman Sachs Group reiterated a “sell” rating and issued a $50.00 price target on shares of Symbotic in a report on Thursday, January 15th. Robert W. Baird increased their price objective on shares of Symbotic from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Oppenheimer restated an “outperform” rating and set a $83.00 price objective on shares of Symbotic in a report on Tuesday, November 25th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Symbotic in a research note on Thursday, February 5th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.57.

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.