William M. Boyd III Sells 25,000 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider William M. Boyd III sold 25,000 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $49.00, for a total value of $1,225,000.00. Following the sale, the insider owned 34,544 shares of the company's stock, valued at approximately $1,692,656. The trade was a 41.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Symbotic Trading Down 1.6%

Shares of Symbotic stock traded down $0.75 during trading on Friday, reaching $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 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. The stock has a fifty day moving average price of $32.52 and a two-hundred day moving average price of $27.05. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $49.86.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS 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 during the quarter, compared to the consensus estimate of $522.36 million. During the same quarter last year, the firm earned ($0.07) earnings per share. The business's revenue for the quarter was up 39.7% on a year-over-year basis. On average, equities analysts forecast that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Institutional Trading of Symbotic

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SYM. Citigroup dropped their target price on Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Northland Securities boosted their target price on Symbotic from $35.00 to $56.00 and gave the stock an "outperform" rating in a research report on Tuesday. The Goldman Sachs Group dropped 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. Arete assumed coverage on Symbotic in a research report on Wednesday, June 25th. They set a "buy" rating and a $50.00 target price for the company. Finally, Arete Research raised Symbotic to a "strong-buy" rating and set a $50.00 price objective for the company in a research note on Wednesday, June 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $39.59.

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.