Symbotic Inc. (NASDAQ:SYM) Director Sells $30,000.00 in Stock

Symbotic Inc. (NASDAQ:SYM - Get Free Report) Director Daniela L. Rus sold 1,000 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $30.00, for a total transaction of $30,000.00. Following the transaction, the director now owns 26,435 shares of the company's stock, valued at approximately $793,050. This represents a 3.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Symbotic Stock Performance

SYM traded up $4.54 on Wednesday, reaching $35.70. 7,549,917 shares of the stock were exchanged, compared to its average volume of 1,963,673. Symbotic Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $41.76. The company's 50-day moving average price is $25.50 and its 200 day moving average price is $25.23.

Symbotic (NASDAQ:SYM - Get Free Report) last released 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). The business had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. Symbotic had a negative return on equity of 1.26% and a negative net margin of 0.23%. The firm's revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.07) EPS. As a group, research analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on SYM. BWS Financial reiterated a "sell" rating and issued a $10.00 price target on shares of Symbotic in a research note on Wednesday, April 2nd. Citigroup dropped their price target on Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 14th. UBS Group decreased their price objective on Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group lowered their target price on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Symbotic currently has an average rating of "Hold" and a consensus price target of $37.20.

Hedge Funds Weigh In On Symbotic

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

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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