Symbotic Inc. (NASDAQ:SYM) Director Merline Saintil Sells 600 Shares

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Merline Saintil sold 600 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $37.00, for a total value of $22,200.00. Following the sale, the director now directly owns 77,413 shares of the company's stock, valued at $2,864,281. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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 transaction of $18,081.21.

Symbotic Stock Up 0.2%

Shares of SYM stock opened at $37.25 on Friday. The business has a 50-day moving average price of $27.81 and a two-hundred day moving average price of $25.69. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $41.76. The firm has a market cap of $21.96 billion, a P/E ratio of -931.25, a price-to-earnings-growth ratio of 61.93 and a beta of 1.95.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $522.36 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The business's quarterly revenue was up 39.7% on a year-over-year basis. As a group, research analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Institutional Trading of Symbotic

Several hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc lifted 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 acquiring an additional 503 shares during the last quarter. GAMMA Investing LLC increased its stake 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 worth $29,000 after buying an additional 1,341 shares during the period. Ulland Investment Advisors LLC bought a new stake in Symbotic during the 1st quarter valued at $31,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Symbotic in the 4th quarter worth $47,000. Finally, Private Trust Co. NA bought a new stake in shares of Symbotic in the fourth quarter worth about $47,000.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. BWS Financial reissued a "sell" rating and issued a $10.00 target price on shares of Symbotic in a research report on Wednesday, April 2nd. 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 note on Monday, April 14th. The Goldman Sachs Group reduced their price objective on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Arete Research upgraded Symbotic to a "strong-buy" rating and set a $50.00 price objective on the stock in a research note on Wednesday. Finally, Arete assumed coverage on Symbotic in a report on Wednesday. They set a "buy" rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $38.71.

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.