Symbotic Inc. (NASDAQ:SYM) Director Rollin L. Ford Sells 28,740 Shares

Symbotic Inc. (NASDAQ:SYM) Director Rollin L. Ford sold 28,740 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.02, for a total value of $747,814.80. Following the completion of the sale, the director now directly owns 10,447 shares of the company’s stock, valued at approximately $271,830.94. This trade represents a 73.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Symbotic Stock Down 0.4 %

SYM stock opened at $24.38 on Tuesday. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $50.40. The stock’s fifty day simple moving average is $27.22 and its 200-day simple moving average is $26.51. The stock has a market capitalization of $14.34 billion, a price-to-earnings ratio of -348.24, a price-to-earnings-growth ratio of 6.48 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. As a group, analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in Symbotic by 58.2% in the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after acquiring an additional 503 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Symbotic in the fourth quarter valued at about $47,000. Arcadia Investment Management Corp MI purchased a new position in Symbotic in the third quarter valued at about $49,000. Private Trust Co. NA purchased a new position in Symbotic in the fourth quarter valued at about $47,000. Finally, RiverPark Advisors LLC raised its position in Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after purchasing an additional 1,211 shares during the period.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Raymond James cut Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. UBS Group decreased their target price on Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. The Goldman Sachs Group decreased their price objective on Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. TD Cowen increased their price objective on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, BWS Financial reaffirmed a “sell” rating and set a $10.00 price objective on shares of Symbotic in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $38.33.

Symbotic Company Profile

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.