Symbotic (NASDAQ:SYM) Director Rollin Ford Sells 60,000 Shares

Symbotic Inc. (NASDAQ:SYM) Director Rollin Ford sold 60,000 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $57.51, for a total value of $3,450,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Symbotic Stock Up 0.4%

Shares of NASDAQ SYM opened at $54.95 on Friday. The business’s 50 day moving average price is $61.37 and its two-hundred day moving average price is $60.50. The company has a market cap of $32.50 billion, a PE ratio of -549.45, a price-to-earnings-growth ratio of 7.29 and a beta of 2.13. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $87.88.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The business had revenue of $629.99 million during the quarter, compared to analyst estimates of $622.58 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The business’s quarterly revenue was up 29.4% on a year-over-year basis. As a group, research analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Symbotic

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Symbotic by 47.6% during the fourth 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 in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Symbotic by 51,346.1% during the 4th 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. Morgan Stanley increased its position in Symbotic by 85.4% during the 4th quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock worth $150,587,000 after purchasing an additional 1,165,513 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Symbotic during the 3rd quarter worth approximately $34,296,000. Finally, Marshall Wace LLP bought a new position in Symbotic in the 4th quarter valued at approximately $33,997,000.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Citigroup reaffirmed an “outperform” rating on shares of Symbotic in a report on Thursday, February 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Symbotic in a research note on Thursday, January 22nd. The Goldman Sachs Group reiterated a “sell” rating and issued a $50.00 price objective on shares of Symbotic in a research note on Thursday, January 15th. Barclays increased their target price on shares of Symbotic from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Monday, January 12th. Finally, TD Cowen reiterated a “buy” rating on shares of Symbotic in a research report on Wednesday, December 3rd. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $58.07.

About Symbotic

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.