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

Symbotic Inc. (NASDAQ:SYM) Director Rollin Ford sold 60,000 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $57.51, for a total transaction of $3,450,600.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Symbotic Stock Performance

SYM opened at $54.95 on Friday. The company has a fifty day moving average of $61.37 and a two-hundred day moving average of $60.57. The stock has a market capitalization of $32.50 billion, a price-to-earnings ratio of -549.45, a PEG ratio of 7.33 and a beta of 2.13. Symbotic Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $87.88.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, February 4th. The company reported $0.02 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 for the quarter, compared to analyst estimates of $622.58 million. During the same quarter last year, the business earned ($0.03) earnings per share. Symbotic’s revenue was up 29.4% on a year-over-year basis. On average, equities research analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wall Street Zen raised Symbotic from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Oppenheimer reaffirmed an “outperform” rating and set a $83.00 price objective on shares of Symbotic in a report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Symbotic from $55.00 to $63.00 and gave the company a “hold” rating in a research report on Tuesday, November 25th. Northcoast Research downgraded shares of Symbotic from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 25th. Finally, TD Cowen reiterated a “buy” rating on shares of Symbotic in a 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $58.07.

Hedge Funds Weigh In On Symbotic

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust grew its stake in Symbotic by 100.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock valued at $32,000 after acquiring an additional 268 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Symbotic in the fourth quarter valued at approximately $33,997,000. The Manufacturers Life Insurance Company increased its holdings in shares of Symbotic by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,375 shares of the company’s stock valued at $677,000 after purchasing an additional 236 shares during the last quarter. Bridgewater Associates LP lifted its position in Symbotic by 6.4% during the fourth quarter. Bridgewater Associates LP now owns 82,555 shares of the company’s stock worth $4,912,000 after buying an additional 4,935 shares in the last quarter. Finally, Quarry LP purchased a new position in Symbotic during the fourth quarter worth approximately $36,000.

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.