Symbotic (NASDAQ:SYM) Insider Maria Freve Sells 2,244 Shares

Symbotic Inc. (NASDAQ:SYM) insider Maria Freve sold 2,244 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $40.28, for a total transaction of $90,388.32. Following the transaction, the insider directly owned 3,096 shares of the company’s stock, valued at $124,706.88. This represents a 42.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Symbotic Trading Up 2.0%

NASDAQ:SYM opened at $42.34 on Wednesday. The stock has a market capitalization of $25.52 billion, a PE ratio of -846.63, a price-to-earnings-growth ratio of 6.12 and a beta of 1.93. The firm’s 50 day moving average is $44.00 and its 200 day moving average is $51.98. Symbotic Inc. has a 12 month low of $38.19 and a 12 month high of $87.88.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 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 during the quarter, compared to analysts’ expectations of $662.65 million. During the same quarter in the previous year, the company posted ($0.04) EPS. Symbotic’s revenue for the quarter was up 23.1% on a year-over-year basis. Research analysts predict that Symbotic Inc. will post 0.23 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Wealthcare Advisory Partners LLC raised its position in shares of Symbotic by 41.9% in the second quarter. Wealthcare Advisory Partners LLC now owns 6,792 shares of the company’s stock worth $305,000 after buying an additional 2,005 shares in the last quarter. Polianta Ltd boosted its stake in Symbotic by 16.7% during the second quarter. Polianta Ltd now owns 35,000 shares of the company’s stock valued at $1,573,000 after buying an additional 5,000 shares during the period. 180 Wealth Advisors LLC grew its position in Symbotic by 3.6% during the second quarter. 180 Wealth Advisors LLC now owns 61,717 shares of the company’s stock worth $2,774,000 after buying an additional 2,116 shares in the last quarter. Western Wealth Management LLC bought a new position in Symbotic in the 1st quarter worth about $113,000. Finally, Centaurus Financial Inc. increased its stake in Symbotic by 62.1% in the 1st quarter. Centaurus Financial Inc. now owns 2,814 shares of the company’s stock worth $150,000 after acquiring an additional 1,078 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SYM shares. Zacks Research downgraded Symbotic from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. The Goldman Sachs Group lowered their price objective on Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a research note on Tuesday, May 26th. DA Davidson reaffirmed a “buy” rating and set a $70.00 price objective 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 note on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Symbotic has an average rating of “Hold” and an average target price of $66.50.

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.