Symbotic (NASDAQ:SYM) Insider William Boyd III Sells 9,194 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider William Boyd III sold 9,194 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $58.75, for a total value of $540,147.50. Following the completion of the transaction, the insider directly owned 62,227 shares in the company, valued at $3,655,836.25. This represents a 12.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Symbotic Stock Performance

Shares of NASDAQ:SYM opened at $59.52 on Tuesday. The company has a market capitalization of $35.84 billion, a PE ratio of -595.14, a price-to-earnings-growth ratio of 5.95 and a beta of 2.10. The stock has a fifty day moving average of $54.43 and a 200-day moving average of $61.16. Symbotic Inc. has a one year low of $20.50 and a one year high of $87.88.

Symbotic (NASDAQ:SYM) last issued its earnings results 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 return on equity of 1.88% and a negative net margin of 0.45%.The company had revenue of $629.99 million during the quarter, compared to analyst estimates of $622.58 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The business’s revenue was up 29.4% compared to the same quarter last year. As a group, research analysts forecast that Symbotic Inc. will post 0.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on SYM shares. Weiss Ratings restated a “hold (c-)” rating on shares of Symbotic in a report on Tuesday, April 21st. Needham & Company LLC lifted their target price on shares of Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. UBS Group set a $70.00 price target on shares of Symbotic in a report on Wednesday, February 18th. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and upped their price target for the company from $57.00 to $70.00 in a research report on Wednesday, April 15th. Finally, Wall Street Zen lowered shares of Symbotic from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Symbotic presently has an average rating of “Hold” and a consensus price target of $65.62.

Institutional Investors Weigh In On Symbotic

Hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust boosted its position in Symbotic by 100.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after acquiring an additional 268 shares during the period. MAI Capital Management increased its holdings in shares of Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after purchasing an additional 500 shares during the period. Quarry LP purchased a new stake in shares of Symbotic in the fourth quarter worth approximately $36,000. Parallel Advisors LLC lifted its position in shares of Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after purchasing an additional 249 shares in the last quarter. Finally, Ameriflex Group Inc. boosted its holdings in shares of Symbotic by 1,500.0% during the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after purchasing an additional 660 shares during the period.

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.