Symbotic Inc. (NASDAQ:SYM) Insider William M. Boyd III Sells 2,660 Shares

Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider William M. Boyd III sold 2,660 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $27.60, for a total transaction of $73,416.00. Following the completion of the sale, the insider now owns 40,812 shares of the company's stock, valued at $1,126,411.20. This trade represents a 6.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Symbotic Stock Performance

NASDAQ:SYM traded down $0.67 during mid-day trading on Thursday, hitting $26.09. 1,595,050 shares of the company's stock traded hands, compared to its average volume of 2,459,072. The company has a market cap of $15.35 billion, a PE ratio of -372.66, a price-to-earnings-growth ratio of 6.90 and a beta of 1.79. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $50.40. The firm's 50 day simple moving average is $27.27 and its 200 day simple moving average is $26.44.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share 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%. On average, research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Symbotic

Institutional investors have recently modified their holdings of the company. IFP Advisors Inc raised its position in shares of 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 buying an additional 503 shares during the last quarter. Private Trust Co. NA acquired a new position in shares of Symbotic in the fourth quarter valued at approximately $47,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Symbotic in the fourth quarter valued at approximately $47,000. Arcadia Investment Management Corp MI acquired a new position in shares of Symbotic in the third quarter valued at approximately $49,000. Finally, RiverPark Advisors LLC raised its position in shares of 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 buying an additional 1,211 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. The Goldman Sachs Group reduced their target price 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. Craig Hallum downgraded shares of Symbotic from a "buy" rating to a "hold" rating and set a $25.00 price target for the company. in a report on Wednesday, November 27th. Needham & Company LLC cut their price target on shares of Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Oppenheimer assumed coverage on shares of Symbotic in a report on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 price target for the company. Finally, KeyCorp reiterated a "sector weight" rating on shares of Symbotic in a report on Wednesday, November 27th. One 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, the company presently has a consensus rating of "Hold" and a consensus target price 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.

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