Symbotic (NASDAQ:SYM) Insider Maria Freve Sells 8,306 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider Maria Freve sold 8,306 shares of the stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $55.11, for a total value of $457,743.66. Following the completion of the transaction, the insider directly owned 539 shares of the company’s stock, valued at approximately $29,704.29. This represents a 93.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Symbotic Price Performance

SYM stock opened at $54.13 on Tuesday. The business has a 50 day simple moving average of $64.67 and a 200-day simple moving average of $60.30. The firm has a market capitalization of $32.02 billion, a PE ratio of -360.87, a price-to-earnings-growth ratio of 15.42 and a beta of 2.13. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $87.88.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SYM. Oppenheimer reaffirmed an “outperform” rating and set a $83.00 target price on shares of Symbotic in a research note on Tuesday, November 25th. Robert W. Baird increased their price objective on Symbotic from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Deutsche Bank Aktiengesellschaft boosted their target price on Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a research note on Tuesday, November 25th. Barclays upped their price target on Symbotic from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Monday, January 12th. Finally, 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. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.79.

Institutional Investors Weigh In On Symbotic

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Symbotic by 47.6% in the 4th quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock valued at $412,463,000 after purchasing an additional 2,237,137 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Symbotic in the third quarter valued at about $34,296,000. M&T Bank Corp lifted its position in shares of Symbotic by 1,108.8% during the 4th quarter. M&T Bank Corp now owns 330,882 shares of the company’s stock valued at $19,687,000 after acquiring an additional 303,510 shares during the period. Franklin Resources Inc. lifted its position in shares of Symbotic by 3,188.8% during the 3rd quarter. Franklin Resources Inc. now owns 274,155 shares of the company’s stock valued at $14,777,000 after acquiring an additional 265,819 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in shares of Symbotic by 626.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 274,178 shares of the company’s stock worth $14,778,000 after acquiring an additional 236,435 shares in the last quarter.

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.