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 the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $48.33, for a total transaction of $48,330.00. Following the transaction, the director directly owned 22,729 shares in the company, valued at approximately $1,098,492.57. The trade was a 4.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Symbotic Stock Up 2.7%

Symbotic stock traded up $1.42 on Thursday, hitting $54.18. The company's stock had a trading volume of 3,570,744 shares, compared to its average volume of 2,080,804. The firm has a market cap of $31.95 billion, a P/E ratio of -1,354.50, a price-to-earnings-growth ratio of 50.57 and a beta of 2.03. The company has a fifty day moving average price of $34.13 and a 200-day moving average price of $27.57. Symbotic Inc. has a one year low of $16.32 and a one year high of $54.20.

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 business had revenue of $549.65 million during the quarter, compared to the consensus estimate of $522.36 million. Symbotic had a negative net margin of 0.23% and a negative return on equity of 1.26%. The company's quarterly revenue was up 39.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.07) EPS. Analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Symbotic

Several institutional investors and hedge funds have recently bought and sold shares of the business. Perigon Wealth Management LLC bought a new stake in Symbotic in the 2nd quarter valued at $988,000. Riverbridge Partners LLC acquired a new stake in shares of Symbotic in the 2nd quarter valued at $358,000. AdvisorNet Financial Inc acquired a new stake in shares of Symbotic in the 2nd quarter valued at $32,000. Bouvel Investment Partners LLC acquired a new stake in shares of Symbotic in the 2nd quarter valued at $1,715,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Symbotic by 24.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company's stock valued at $69,000 after purchasing an additional 342 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Arete assumed coverage on shares of Symbotic in a research report on Wednesday, June 25th. They set a "buy" rating and a $50.00 price objective on the stock. Northland Securities lifted their price target on shares of Symbotic from $35.00 to $56.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Oppenheimer reaffirmed an "outperform" rating and set a $54.00 price objective (up from $35.00) on shares of Symbotic in a report on Wednesday. Finally, Arete Research raised shares of Symbotic to a "strong-buy" rating and set a $50.00 price objective for the company in a report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $40.71.

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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