Symbotic Inc. (NASDAQ:SYM) Director Sells $747,814.80 in Stock

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Rollin L. Ford sold 28,740 shares of the 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. The trade was a 73.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Symbotic Stock Down 1.0 %

SYM stock traded down $0.24 during midday trading on Friday, reaching $22.70. 1,739,389 shares of the company's stock traded hands, compared to its average volume of 2,332,131. The firm's fifty day moving average price is $27.12 and its 200-day moving average price is $26.49. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $50.40. The company has a market cap of $13.36 billion, a price-to-earnings ratio of -324.24, a P/E/G ratio of 6.48 and a beta of 1.79.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current year.

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Analyst Ratings Changes

A number of equities research analysts have recently commented on SYM shares. Oppenheimer began coverage on shares of Symbotic in a research note on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 price objective on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $60.00 price target on shares of Symbotic in a research report on Thursday, February 6th. TD Cowen increased their price target on Symbotic from $43.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Needham & Company LLC dropped their price objective on Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Finally, KeyCorp restated a "sector weight" rating on shares of Symbotic in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $38.20.

Institutional Trading of Symbotic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its position in shares of Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock valued at $32,000 after buying an additional 503 shares during the last quarter. Private Trust Co. NA bought a new position in Symbotic during the 4th quarter valued at $47,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Symbotic in the 4th quarter worth $47,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Symbotic in the third quarter valued at about $49,000. Finally, RiverPark Advisors LLC boosted its holdings in Symbotic by 147.1% during the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company's stock worth $50,000 after purchasing an additional 1,211 shares during the last quarter.

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.