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

Symbotic Inc. (NASDAQ:SYM) insider William Boyd III sold 5,115 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $55.99, for a total value of $286,388.85. Following the completion of the sale, the insider directly owned 61,679 shares in the company, valued at approximately $3,453,407.21. The trade was a 7.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Symbotic Stock Performance

Shares of SYM opened at $53.37 on Friday. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $87.88. The company has a market cap of $32.14 billion, a PE ratio of -533.65, a price-to-earnings-growth ratio of 5.35 and a beta of 2.10. The stock has a 50-day moving average price of $53.96 and a 200-day moving average price of $61.15.

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

Wall Street Analysts Forecast Growth

SYM has been the topic of several research reports. Citigroup restated an “outperform” rating on shares of Symbotic in a research report on Thursday, February 5th. Wall Street Zen lowered shares of Symbotic from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. DA Davidson increased their target price on Symbotic from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Finally, Needham & Company LLC lifted their price target on Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Symbotic currently has an average rating of “Hold” and a consensus price target of $64.62.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its stake in shares of Symbotic by 13.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 10,243 shares of the company’s stock valued at $609,000 after purchasing an additional 1,223 shares in the last quarter. Osbon Capital Management LLC bought a new position in shares of Symbotic during the 4th quarter valued at $334,000. Fund Advisors of America Inc FL purchased a new position in Symbotic in the 4th quarter worth $1,378,000. Mercer Global Advisors Inc. ADV raised its position in Symbotic by 32.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,435 shares of the company’s stock worth $502,000 after purchasing an additional 2,056 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in Symbotic by 278.4% in the fourth quarter. NewEdge Advisors LLC now owns 9,711 shares of the company’s stock worth $578,000 after purchasing an additional 7,145 shares during 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.