Symbotic Inc. (NASDAQ:SYM) Director Daniela L. Rus Sells 1,000 Shares

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Daniela L. Rus sold 1,000 shares of Symbotic stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $30.00, for a total transaction of $30,000.00. Following the completion of the sale, the director now directly owns 27,435 shares of the company's stock, valued at $823,050. The trade was a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Symbotic Stock Down 1.3%

Shares of Symbotic stock traded down $0.38 during trading hours on Friday, hitting $28.56. The company's stock had a trading volume of 1,150,460 shares, compared to its average volume of 1,943,459. The business has a fifty day moving average of $23.18 and a 200 day moving average of $25.48. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $41.76. The company has a market capitalization of $16.84 billion, a PE ratio of -407.94, a P/E/G ratio of 6.48 and a beta of 1.85.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The company had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. The firm's revenue for the quarter was up 39.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) earnings per share. On average, sell-side analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Symbotic

Large investors have recently modified their holdings of the stock. IFP Advisors Inc boosted its holdings 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 acquiring an additional 503 shares during the period. GAMMA Investing LLC boosted its holdings in Symbotic by 1,812.2% in the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock worth $29,000 after acquiring an additional 1,341 shares during the period. Ulland Investment Advisors LLC purchased a new position in Symbotic in the 1st quarter worth approximately $31,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Symbotic in the 4th quarter worth approximately $47,000. Finally, Private Trust Co. NA purchased a new stake in Symbotic during the 4th quarter worth $47,000.

Wall Street Analyst Weigh In

SYM has been the subject of a number of recent analyst reports. Needham & Company LLC lowered their price objective on Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Citigroup lowered their price target on Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a report on Monday, April 14th. Raymond James downgraded shares of Symbotic from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. Cantor Fitzgerald reissued an "overweight" rating and issued a $60.00 target price on shares of Symbotic in a research report on Thursday, February 6th. Finally, BWS Financial restated a "sell" rating and issued a $10.00 target price on shares of Symbotic in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $37.20.

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.