Symbotic Inc. (NASDAQ:SYM) Insider Sells $76,276.85 in Stock

Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider William M. Boyd III sold 2,455 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $31.07, for a total value of $76,276.85. Following the transaction, the insider now owns 34,544 shares of the company's stock, valued at approximately $1,073,282.08. This represents a 6.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Symbotic Stock Performance

Shares of NASDAQ SYM traded up $4.54 during midday trading on Wednesday, reaching $35.70. The stock had a trading volume of 7,549,917 shares, compared to its average volume of 1,963,673. The stock has a 50-day moving average of $25.50 and a 200-day moving average of $25.23. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $41.76.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). The firm had revenue of $549.65 million during 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 revenue for the quarter was up 39.7% on a year-over-year basis. During the same period last year, the company earned ($0.07) earnings per share. Equities analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Symbotic

Institutional investors have recently bought and sold shares of the stock. Alberta Investment Management Corp purchased a new position in Symbotic during the fourth quarter valued at $586,000. Vanguard Group Inc. grew its stake in Symbotic by 41.3% during the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock valued at $117,846,000 after acquiring an additional 1,452,627 shares in the last quarter. Raymond James Financial Inc. bought a new position in Symbotic during the fourth quarter valued at $20,754,000. Cetera Investment Advisers lifted its position in Symbotic by 5.7% during the fourth quarter. Cetera Investment Advisers now owns 24,621 shares of the company's stock valued at $584,000 after purchasing an additional 1,332 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Symbotic by 23.7% during the fourth quarter. Northern Trust Corp now owns 110,148 shares of the company's stock valued at $2,612,000 after purchasing an additional 21,077 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SYM. Citigroup decreased their target price on Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a report on Monday, April 14th. BWS Financial reiterated a "sell" rating and issued a $10.00 price objective on shares of Symbotic in a report on Wednesday, April 2nd. The Goldman Sachs Group decreased their price objective on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Finally, UBS Group decreased their price objective on Symbotic from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. One 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 MarketBeat.com, Symbotic presently has a consensus rating of "Hold" and an average target price 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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