Insider Selling: Symbotic Inc. (NASDAQ:SYM) CFO Sells 4,055 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) CFO Carol J. Hibbard sold 4,055 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total value of $124,488.50. Following the transaction, the chief financial officer now directly owns 44,386 shares in the company, valued at approximately $1,362,650.20. The trade was a 8.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Symbotic Price Performance

SYM stock traded up $0.62 during trading on Wednesday, hitting $30.92. 3,928,156 shares of the company traded hands, compared to its average volume of 2,464,642. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $50.40. The company has a market cap of $18.16 billion, a PE ratio of -515.33, a P/E/G ratio of 7.29 and a beta of 1.79. The stock’s 50-day simple moving average is $26.97 and its 200 day simple moving average is $26.79.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. Research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SYM. Geode Capital Management LLC raised its holdings in Symbotic by 10.2% in the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock valued at $12,290,000 after acquiring an additional 46,721 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Symbotic during the third quarter worth approximately $1,029,000. Capital Market Strategies LLC acquired a new position in Symbotic during the fourth quarter worth $802,000. Baillie Gifford & Co. boosted its position in shares of Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after acquiring an additional 3,410,050 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Symbotic by 10.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock valued at $5,343,000 after purchasing an additional 20,469 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SYM shares. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 price target on shares of Symbotic in a report on Friday, January 17th. UBS Group cut their target price on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. TD Cowen boosted their target price on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Northland Securities raised their price target on Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, William Blair reiterated a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.73.

About Symbotic

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.