Symbotic Inc. (NASDAQ:SYM) Director Sells $132,594.00 in Stock

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Daniela L. Rus sold 2,706 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $49.00, for a total transaction of $132,594.00. Following the completion of the transaction, the director directly owned 23,729 shares in the company, valued at approximately $1,162,721. The trade was a 10.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Symbotic Price Performance

NASDAQ:SYM traded down $0.75 during trading hours on Friday, hitting $47.06. The stock had a trading volume of 1,817,843 shares, compared to its average volume of 2,052,219. The company has a 50 day simple moving average of $32.04 and a two-hundred day simple moving average of $26.89. Symbotic Inc. has a one year low of $16.32 and a one year high of $49.86. The firm has a market capitalization of $27.75 billion, a price-to-earnings ratio of -1,176.50, a P/E/G ratio of 49.80 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) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). Symbotic had a negative net margin of 0.23% and a negative return on equity of 1.26%. The firm had revenue of $549.65 million during the quarter, compared to the consensus estimate of $522.36 million. During the same period in the previous year, the business earned ($0.07) earnings per share. The firm's revenue for the quarter was up 39.7% on a year-over-year basis. Equities research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SYM. Citigroup dropped their price target on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Northland Securities lifted their target price on shares of Symbotic from $35.00 to $56.00 and gave the stock an "outperform" rating in a research report on Tuesday. BWS Financial reissued a "sell" rating and set a $10.00 target price on shares of Symbotic in a research report on Wednesday, April 2nd. Arete initiated coverage on shares of Symbotic in a research report on Wednesday, June 25th. They set a "buy" rating and a $50.00 target price on the stock. Finally, Arete Research raised shares of Symbotic to a "strong-buy" rating and set a $50.00 target price on the stock in a research report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Symbotic presently has an average rating of "Moderate Buy" and a consensus price target of $39.59.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SYM. GAMMA Investing LLC lifted its holdings in shares of Symbotic by 1,812.2% during the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock worth $29,000 after acquiring an additional 1,341 shares during the last quarter. Ulland Investment Advisors LLC bought a new stake in Symbotic in the first quarter worth $31,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Symbotic in the fourth quarter worth $47,000. CWM LLC raised its stake in shares of Symbotic by 408.2% during the first quarter. CWM LLC now owns 2,602 shares of the company's stock valued at $53,000 after acquiring an additional 2,090 shares during the last quarter. Finally, AlphaQuest LLC raised its stake in shares of Symbotic by 318.5% during the first quarter. AlphaQuest LLC now owns 2,800 shares of the company's stock valued at $57,000 after acquiring an additional 2,131 shares during the last quarter.

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.

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