Symbotic Inc. (NASDAQ:SYM) Director Sells $22,200.00 in Stock

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Merline Saintil sold 600 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $37.00, for a total transaction of $22,200.00. Following the transaction, the director now directly owns 77,413 shares in the company, valued at approximately $2,864,281. The trade was a 0.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Merline Saintil also recently made the following trade(s):

• On Tuesday, May 27th, Merline Saintil sold 609 shares of Symbotic stock. The shares were sold at an average price of $29.69, for a total value of $18,081.21.

Symbotic Trading Down 2.1%

Shares of SYM stock traded down $0.69 on Tuesday, reaching $32.20. 2,695,912 shares of the stock were exchanged, compared to its average volume of 1,976,194. The company has a market capitalization of $18.99 billion, a price-to-earnings ratio of -805.00, a PEG ratio of 56.67 and a beta of 1.95. The business's 50 day moving average price is $26.62 and its 200 day moving average price is $25.44. 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 earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). The business had revenue of $549.65 million for the quarter, compared to analysts' expectations of $522.36 million. Symbotic had a negative return on equity of 1.26% and a negative net margin of 0.23%. Symbotic'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 firm earned ($0.07) EPS. Equities research analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current year.

Hedge Funds Weigh In On Symbotic

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Symbotic by 1,812.2% in the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after buying an additional 1,341 shares during the last quarter. Ulland Investment Advisors LLC acquired a new stake in Symbotic during the 1st quarter worth approximately $31,000. IFP Advisors Inc grew its stake in shares of Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock valued at $32,000 after purchasing an additional 503 shares during the last quarter. Private Trust Co. NA acquired a new position in shares of Symbotic in the fourth quarter valued at approximately $47,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Symbotic during the fourth quarter worth $47,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SYM shares. UBS Group decreased their price target on Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. BWS Financial reaffirmed a "sell" rating and set a $10.00 target price on shares of Symbotic in a research note on Wednesday, April 2nd. Citigroup reduced their price target on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, The Goldman Sachs Group lowered 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Symbotic currently has an average rating of "Hold" and a consensus price target 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.

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