Insider Selling: Symbotic Inc. (NASDAQ:SYM) Insider Sells 2,455 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 2,455 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $22.31, for a total transaction of $54,771.05. Following the transaction, the insider now owns 39,659 shares of the company’s stock, valued at $884,792.29. This represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Symbotic Stock Performance

SYM traded up $0.51 on Wednesday, reaching $21.50. 1,687,020 shares of the company’s stock were exchanged, compared to its average volume of 1,881,025. The company’s 50 day moving average is $26.24 and its 200-day moving average is $26.49. The company has a market cap of $12.65 billion, a price-to-earnings ratio of -307.10, a PEG ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $50.41.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. Sell-side analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SYM shares. The Goldman Sachs Group lowered their price objective on shares of Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. BWS Financial reissued a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a research note on Tuesday, January 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a research note on Thursday, February 6th. Raymond James cut shares of Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. Finally, Craig Hallum cut shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Symbotic has a consensus rating of “Hold” and an average target price of $38.20.

Institutional Trading of Symbotic

A number of institutional investors and hedge funds have recently bought and sold shares of SYM. IFP Advisors Inc increased its position in Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after purchasing an additional 503 shares in the last quarter. Private Trust Co. NA purchased a new position in Symbotic in the 4th quarter worth approximately $47,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Symbotic in the 4th quarter worth approximately $47,000. Jones Financial Companies Lllp boosted its holdings in Symbotic by 154.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock worth $58,000 after acquiring an additional 1,490 shares during the period. Finally, Quest Partners LLC boosted its holdings in Symbotic by 19,307.7% in the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after acquiring an additional 2,510 shares during the period.

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.