Insider Selling: Symbotic (NASDAQ:SYM) Insider Sells 2,000 Shares of Stock

Key Points

• Insider Maria Freve sold 2,000 shares of Symbotic Inc. at an average price of $51.93, resulting in a total transaction value of $103,860 and a 60.39% decrease in their ownership.
• Symbotic reported a quarterly revenue of $592.12 million, exceeding estimates, though it posted an EPS of ($0.05), which missed the predicted earnings.
• Analysts have differing views on Symbotic, with recent ratings showing seven buy ratings, eleven hold ratings, and two sell ratings, indicating mixed market sentiment.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider Maria Freve sold 2,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $51.93, for a total transaction of $103,860.00. Following the sale, the insider directly owned 1,312 shares in the company, valued at approximately $68,132.16. This trade represents a 60.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Symbotic Stock Performance

Shares of NASDAQ SYM traded down $2.30 during midday trading on Wednesday, hitting $44.50. The company's stock had a trading volume of 3,334,395 shares, compared to its average volume of 2,587,078. The stock has a fifty day moving average price of $46.52 and a 200 day moving average price of $31.90. Symbotic Inc. has a one year low of $16.32 and a one year high of $64.16.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.08). The business had revenue of $592.12 million during the quarter, compared to the consensus estimate of $533.55 million. Symbotic had a negative return on equity of 2.02% and a negative net margin of 0.38%.The firm's quarterly revenue was up 25.9% on a year-over-year basis. During the same period last year, the business posted ($0.02) earnings per share. Sell-side analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.

Institutional Trading of Symbotic

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in Symbotic by 100.6% during the fourth quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company's stock valued at $411,000 after buying an additional 3,110,075 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Symbotic by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 505,114 shares of the company's stock valued at $11,981,000 after acquiring an additional 1,356 shares in the last quarter. Natixis purchased a new position in shares of Symbotic in the 4th quarter worth about $828,000. Tower Research Capital LLC TRC raised its position in shares of Symbotic by 40.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company's stock worth $85,000 after purchasing an additional 1,018 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Symbotic in the 4th quarter worth about $601,000.

Analysts Set New Price Targets

SYM has been the topic of a number of recent research reports. Northland Securities increased their price objective on Symbotic from $35.00 to $56.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Robert W. Baird cut Symbotic from an "outperform" rating to a "neutral" rating and set a $55.00 price target on the stock. in a research report on Thursday, August 7th. Arete Research downgraded shares of Symbotic from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Baird R W cut shares of Symbotic from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Finally, Zacks Research lowered shares of Symbotic from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Symbotic has a consensus rating of "Hold" and an average price target of $42.69.

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.

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