Insider Selling: Symbotic Inc. (NASDAQ:SYM) Insider Sells 2,660 Shares of Stock

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

Symbotic Stock Up 0.3 %

Symbotic stock traded up $0.07 during trading hours on Monday, hitting $24.54. The stock had a trading volume of 1,424,554 shares, compared to its average volume of 2,405,067. The business's 50 day simple moving average is $27.22 and its 200-day simple moving average is $26.48. The stock has a market cap of $14.44 billion, a price-to-earnings ratio of -350.45, a P/E/G ratio of 6.48 and a beta of 1.79. Symbotic Inc. has a one year low of $17.11 and a one year high of $50.40.

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

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Analyst Ratings Changes

A number of brokerages have recently issued reports on SYM. Northland Securities increased their price target on shares of Symbotic from $35.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, January 17th. Craig Hallum downgraded shares of Symbotic from a "buy" rating to a "hold" rating and set a $25.00 target price on the stock. in a research note on Wednesday, November 27th. KeyCorp restated a "sector weight" rating on shares of Symbotic in a research note on Wednesday, November 27th. Raymond James lowered shares of Symbotic from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. Finally, Citigroup reissued a "buy" rating and set a $37.00 target price on shares of Symbotic in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Symbotic presently has a consensus rating of "Hold" and an average target price of $38.33.

Institutional Investors Weigh In On Symbotic

Several institutional investors have recently made changes to their positions in SYM. IFP Advisors Inc lifted its position in Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after buying an additional 503 shares during the last quarter. Private Trust Co. NA purchased a new stake in Symbotic during the 4th quarter valued at $47,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Symbotic in the fourth quarter worth approximately $47,000. Arcadia Investment Management Corp MI purchased a new position in Symbotic during the third quarter valued at approximately $49,000. Finally, RiverPark Advisors LLC lifted its holdings in shares of Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company's stock worth $50,000 after buying an additional 1,211 shares in 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.