Symbotic Inc. (NASDAQ:SYM) Insider Sells $26,160.94 in Stock

Key Points

• Insider Maria G. Freve sold 478 shares of Symbotic Inc. at an average price of $54.73, totaling $26,160.94, which represents a 12.61% decrease in her position.
• Symbotic reported a quarterly revenue of $549.65 million, exceeding analysts' expectations, despite missing on earnings per share with a loss of $0.04.
• Institutional investors have significantly increased their holdings in Symbotic, with GAMMA Investing LLC growing its stake by 1,812.2% in the first quarter.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider Maria G. Freve sold 478 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $54.73, for a total transaction of $26,160.94. Following the transaction, the insider owned 3,312 shares of the company's stock, valued at approximately $181,265.76. The trade was a 12.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Symbotic Stock Performance

NASDAQ:SYM traded down $0.43 during mid-day trading on Friday, hitting $52.99. 1,625,885 shares of the company's stock traded hands, compared to its average volume of 2,658,595. The firm's 50 day simple moving average is $37.31 and its 200 day simple moving average is $28.71. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $55.44.

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). The firm 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%. The business's quarterly revenue was up 39.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) earnings per share. As a group, research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Symbotic

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 1,341 shares in the last quarter. Ulland Investment Advisors LLC purchased a new stake in shares of Symbotic during the first quarter worth about $31,000. AdvisorNet Financial Inc acquired a new position in shares of Symbotic during the 2nd quarter valued at about $32,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Symbotic during the 4th quarter valued at about $47,000. Finally, CWM LLC increased its stake in shares of Symbotic by 408.2% during the 1st 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.

Wall Street Analyst Weigh In

A number of brokerages have commented on SYM. BWS Financial restated a "sell" rating and set a $10.00 price objective on shares of Symbotic in a research report on Wednesday, April 2nd. The Goldman Sachs Group cut 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. Arete downgraded shares of Symbotic from a "buy" rating to a "neutral" rating and set a $50.00 price objective for the company. in a research report on Friday. Deutsche Bank Aktiengesellschaft downgraded shares of Symbotic from a "buy" rating to a "hold" rating and set a $51.00 price objective for the company. in a research report on Friday, July 18th. Finally, Arete Research upgraded shares of Symbotic to a "strong-buy" rating and set a $50.00 price target for the company in a report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.94.

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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