Symbotic (NASDAQ:SYM) Insider William Boyd III Sells 5,115 Shares

Symbotic Inc. (NASDAQ:SYM) insider William Boyd III sold 5,115 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $63.89, for a total value of $326,797.35. Following the transaction, the insider directly owned 19,199 shares in the company, valued at approximately $1,226,624.11. The trade was a 21.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Symbotic Stock Up 2.7%

Shares of Symbotic stock traded up $1.83 during trading on Tuesday, reaching $70.45. The company’s stock had a trading volume of 1,892,517 shares, compared to its average volume of 2,307,616. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $87.88. The company has a 50-day simple moving average of $65.52 and a two-hundred day simple moving average of $57.34. The company has a market cap of $41.67 billion, a price-to-earnings ratio of -469.67, a P/E/G ratio of 18.40 and a beta of 2.13.

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

Institutional Investors Weigh In On Symbotic

Several hedge funds have recently added to or reduced their stakes in SYM. MAI Capital Management raised its stake in shares of Symbotic by 833.3% during the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after buying an additional 500 shares during the last quarter. AdvisorNet Financial Inc acquired a new stake in Symbotic during the second quarter worth about $32,000. IAG Wealth Partners LLC acquired a new stake in Symbotic during the second quarter worth about $32,000. Ameriflex Group Inc. raised its position in Symbotic by 1,500.0% during the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock valued at $38,000 after acquiring an additional 660 shares in the last quarter. Finally, Gables Capital Management Inc. acquired a new position in Symbotic in the second quarter valued at approximately $39,000.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. DA Davidson restated a “neutral” rating and issued a $47.00 target price on shares of Symbotic in a research note on Tuesday, November 25th. Northcoast Research cut Symbotic from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 25th. Needham & Company LLC increased their price objective on Symbotic from $57.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Finally, Cowen restated a “buy” rating on shares of Symbotic in a research note on Wednesday, December 3rd. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.50.

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.