Symbotic (NASDAQ:SYM) Insider Maria Freve Sells 6,667 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider Maria Freve sold 6,667 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $59.99, for a total transaction of $399,953.33. Following the completion of the transaction, the insider owned 8,845 shares in the company, valued at approximately $530,611.55. This trade represents a 42.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Symbotic Price Performance

SYM stock opened at $58.99 on Wednesday. The firm’s fifty day simple moving average is $64.63 and its 200-day simple moving average is $60.18. The company has a market capitalization of $34.89 billion, a P/E ratio of -393.27, a price-to-earnings-growth ratio of 16.87 and a beta of 2.13. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $87.88.

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

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Symbotic by 2.1% during the third quarter. Vanguard Group Inc. now owns 4,695,021 shares of the company’s stock worth $253,062,000 after purchasing an additional 98,384 shares in the last quarter. UBS Group AG grew its holdings in shares of Symbotic by 22.3% during the third quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock worth $59,601,000 after buying an additional 201,547 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Symbotic by 23.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 726,411 shares of the company’s stock valued at $47,122,000 after buying an additional 136,111 shares during the last quarter. ARK Investment Management LLC lifted its stake in shares of Symbotic by 32.4% in the third quarter. ARK Investment Management LLC now owns 589,887 shares of the company’s stock worth $31,795,000 after buying an additional 144,389 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Symbotic by 0.9% during the second quarter. Geode Capital Management LLC now owns 551,216 shares of the company’s stock worth $21,419,000 after acquiring an additional 4,892 shares during the last quarter.

Wall Street Analyst Weigh In

SYM has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Symbotic from $55.00 to $63.00 and gave the company a “hold” rating in a research report on Tuesday, November 25th. Northcoast Research cut shares of Symbotic from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Symbotic in a research report on Thursday, January 22nd. Barclays lifted their price objective on shares of Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Monday, January 12th. Finally, Zacks Research lowered shares of Symbotic from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, Symbotic currently has an average rating of “Hold” and an average target price of $56.79.

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.