Symbotic Inc. (NASDAQ:SYM) Insider Sells $54,771.05 in Stock

Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider William M. Boyd III sold 2,455 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $22.31, for a total transaction of $54,771.05. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Symbotic Stock Up 3.4 %

SYM stock traded up $0.74 during midday trading on Friday, hitting $22.39. 1,584,147 shares of the company traded hands, compared to its average volume of 1,886,968. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $50.41. The business has a 50 day simple moving average of $26.08 and a 200-day simple moving average of $26.60. The stock has a market capitalization of $13.17 billion, a price-to-earnings ratio of -319.81, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85.

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

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Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. DA Davidson raised shares of Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 price target for the company in a report on Wednesday, January 8th. Raymond James downgraded shares of Symbotic from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. William Blair reissued a "market perform" rating on shares of Symbotic in a report on Thursday, December 5th. Citigroup reissued a "buy" rating and issued a $37.00 price target on shares of Symbotic in a report on Monday, January 13th. Finally, BWS Financial reissued a "sell" rating and issued a $10.00 price target on shares of Symbotic in a report on Tuesday, January 21st. One 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $38.20.

Hedge Funds Weigh In On Symbotic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Walmart Inc. acquired a new stake in shares of Symbotic in the fourth quarter worth $355,650,000. Vanguard Group Inc. grew its stake in shares of Symbotic by 41.3% in the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock worth $117,846,000 after acquiring an additional 1,452,627 shares during the last quarter. Thematics Asset Management grew its stake in shares of Symbotic by 30.1% in the third quarter. Thematics Asset Management now owns 1,048,170 shares of the company's stock worth $25,565,000 after acquiring an additional 242,661 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Symbotic in the fourth quarter worth $20,754,000. Finally, Invesco Ltd. grew its stake in shares of Symbotic by 25.9% in the fourth quarter. Invesco Ltd. now owns 727,890 shares of the company's stock worth $17,258,000 after acquiring an additional 149,918 shares during the last quarter.

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.