Symbotic Inc. (NASDAQ:SYM) Director Sells $18,081.21 in Stock

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Merline Saintil sold 609 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $29.69, for a total transaction of $18,081.21. Following the completion of the transaction, the director now owns 78,013 shares of the company's stock, valued at approximately $2,316,205.97. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Symbotic Stock Down 1.3%

NASDAQ:SYM traded down $0.38 during trading hours on Friday, reaching $28.56. The company had a trading volume of 1,150,460 shares, compared to its average volume of 1,943,459. The firm has a market cap of $16.84 billion, a price-to-earnings ratio of -407.94, a P/E/G ratio of 6.48 and a beta of 1.85. The business's 50-day simple moving average is $23.18 and its two-hundred day simple moving average is $25.48. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $41.76.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates 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 positive return on equity of 5.11% and a negative net margin of 0.38%. The company's revenue for the quarter was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.07) earnings per share. As a group, equities analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Symbotic

A number of large investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of Symbotic in the fourth quarter valued at $559,000. Hunter Associates Investment Management LLC lifted its stake in shares of Symbotic by 6.8% in the fourth quarter. Hunter Associates Investment Management LLC now owns 67,413 shares of the company's stock valued at $1,599,000 after buying an additional 4,320 shares in the last quarter. Intergy Private Wealth LLC bought a new position in shares of Symbotic in the fourth quarter valued at $310,000. Spire Wealth Management bought a new position in shares of Symbotic in the fourth quarter valued at $298,000. Finally, Hodges Capital Management Inc. lifted its stake in shares of Symbotic by 7.9% in the fourth quarter. Hodges Capital Management Inc. now owns 273,841 shares of the company's stock valued at $6,492,000 after buying an additional 20,111 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Citigroup decreased their price target on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Needham & Company LLC decreased their price target on shares of Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 price objective on shares of Symbotic in a research report on Thursday, February 6th. The Goldman Sachs Group decreased their price objective on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Raymond James cut shares of Symbotic from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Symbotic presently has a consensus rating of "Hold" and an average target price 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.