Symbotic (NASDAQ:SYM) Insider Sells $377,321.76 in Stock

Symbotic Inc. (NASDAQ:SYM) insider William Boyd III sold 9,194 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $41.04, for a total value of $377,321.76. Following the transaction, the insider owned 57,112 shares of the company’s stock, valued at approximately $2,343,876.48. This represents a 13.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Symbotic Price Performance

SYM opened at $42.94 on Friday. Symbotic Inc. has a 12 month low of $38.19 and a 12 month high of $87.88. The stock has a market cap of $25.88 billion, a P/E ratio of -858.63, a P/E/G ratio of 5.95 and a beta of 1.93. The stock’s 50 day moving average price is $43.65 and its 200 day moving average price is $51.57.

Symbotic (NASDAQ:SYM) last announced its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share 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 business had revenue of $676.48 million for the quarter, compared to the consensus estimate of $662.65 million. During the same period in the previous year, the firm earned ($0.04) EPS. The firm’s revenue was up 23.1% on a year-over-year basis. Equities analysts anticipate that Symbotic Inc. will post 0.23 EPS for the current year.

Hedge Funds Weigh In On Symbotic

Several hedge funds have recently made changes to their positions in the business. Parkside Financial Bank & Trust lifted its stake in Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock valued at $32,000 after purchasing an additional 268 shares during the last quarter. Quarry LP acquired a new position in Symbotic in the fourth quarter worth approximately $36,000. Parallel Advisors LLC grew its position in Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after buying an additional 249 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in shares of Symbotic in the fourth quarter valued at $48,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Symbotic in the fourth quarter valued at $55,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of Symbotic from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. DA Davidson reissued a “buy” rating and set a $70.00 target price on shares of Symbotic in a research note on Monday, May 11th. The Goldman Sachs Group dropped their price target on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a research report on Tuesday, May 26th. Finally, Weiss Ratings lowered 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 assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, Symbotic currently has an average rating of “Hold” and an average price target 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.