Insider Selling: Symbotic Inc. (NASDAQ:SYM) Director Sells 2,706 Shares of Stock

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Daniela L. Rus sold 2,706 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $49.00, for a total value of $132,594.00. Following the sale, the director owned 23,729 shares of the company's stock, valued at $1,162,721. This trade represents a 10.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Symbotic Price Performance

SYM traded up $0.48 during trading on Monday, reaching $47.54. 2,537,848 shares of the stock traded hands, compared to its average volume of 2,059,174. The stock's 50-day simple moving average is $32.52 and its two-hundred day simple moving average is $27.08. Symbotic Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $49.86. The stock has a market cap of $28.03 billion, a price-to-earnings ratio of -1,188.50, a price-to-earnings-growth ratio of 49.02 and a beta of 2.03.

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 firm had revenue of $549.65 million for the quarter, compared to analyst estimates of $522.36 million. Symbotic had a negative net margin of 0.23% and a negative return on equity of 1.26%. The firm's quarterly revenue was up 39.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. Research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Trading of Symbotic

A number of institutional investors have recently added to or reduced their stakes in the business. AdvisorNet Financial Inc bought a new stake in shares of Symbotic during the 2nd quarter worth about $32,000. GAMMA Investing LLC lifted 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 purchasing an additional 1,341 shares during the last quarter. Ulland Investment Advisors LLC bought a new stake in Symbotic during the first quarter worth approximately $31,000. Farther Finance Advisors LLC boosted its position in Symbotic by 24.0% during the second quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company's stock worth $69,000 after purchasing an additional 342 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Symbotic during the fourth quarter valued at approximately $47,000.

Analysts Set New Price Targets

Several brokerages have commented on SYM. BWS Financial reiterated a "sell" rating and issued a $10.00 target price on shares of Symbotic in a report on Wednesday, April 2nd. The Goldman Sachs Group reduced their price target 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. Citigroup reiterated a "buy" rating on shares of Symbotic in a research report on Monday. Arete Research upgraded Symbotic to a "strong-buy" rating and set a $50.00 target price for the company in a report on Wednesday, June 25th. Finally, Northland Securities raised their target price on Symbotic from $35.00 to $56.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $39.59.

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.