Symbotic Inc. (NASDAQ:SYM) Insider William M. Boyd III Sells 8,825 Shares

Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider William M. Boyd III sold 8,825 shares of the firm's stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $40.34, for a total transaction of $356,000.50. Following the completion of the sale, the insider now owns 23,012 shares of the company's stock, valued at $928,304.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Symbotic Stock Performance

Shares of Symbotic stock traded down $1.69 during trading on Tuesday, hitting $38.57. 905,315 shares of the company's stock were exchanged, compared to its average volume of 1,400,816. The business has a 50-day simple moving average of $43.01 and a 200-day simple moving average of $44.28. Symbotic Inc. has a 52-week low of $22.40 and a 52-week high of $64.14. The stock has a market capitalization of $22.26 billion, a price-to-earnings ratio of -142.85 and a beta of 1.91.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its earnings results on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. The firm had revenue of $368.45 million during the quarter, compared to analysts' expectations of $370.28 million. On average, equities analysts anticipate that Symbotic Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYM. Van ECK Associates Corp purchased a new position in Symbotic in the fourth quarter valued at $26,000. Providence Capital Advisors LLC purchased a new position in Symbotic in the third quarter valued at $33,000. Global Retirement Partners LLC increased its holdings in Symbotic by 166.7% in the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company's stock valued at $48,000 after buying an additional 660 shares in the last quarter. Pingora Partners LLC purchased a new position in Symbotic in the fourth quarter valued at $51,000. Finally, Centerpoint Advisors LLC purchased a new position in Symbotic in the fourth quarter valued at $62,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Symbotic from $51.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, February 6th. Robert W. Baird lowered their price objective on shares of Symbotic from $54.00 to $52.00 and set an "outperform" rating for the company in a research note on Tuesday, February 6th. Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 price objective on shares of Symbotic in a research note on Tuesday, February 6th. Northland Securities lifted their price objective on shares of Symbotic from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 10th. Finally, KeyCorp lowered their price objective on shares of Symbotic from $63.00 to $55.00 and set an "overweight" rating for the company in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $54.00.

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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