Symbotic (NASDAQ:SYM) Insider William Boyd III Sells 9,194 Shares of Stock

Key Points

• Symbotic insider William Boyd III sold 9,194 shares at an average price of $41.04, totaling $377,321.76. The Rule 10b5-1 transaction reduced his ownership by 13.87%, leaving him with 57,112 shares.
• Shares traded near $41.12, well below the 12-month high of $87.88. The company’s latest quarter showed 23.1% year-over-year revenue growth to $676.48 million but missed earnings expectations, reporting $0.01 per share versus $0.12 expected.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $66.50 price target. Recent actions included sell-rating downgrades from Zacks Research and Goldman Sachs, while DA Davidson maintained a buy rating with a $70 target.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider William Boyd III sold 9,194 shares of the firm's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $41.04, for a total transaction of $377,321.76. Following the completion of the sale, the insider owned 57,112 shares of the company's stock, valued at $2,343,876.48. This trade represents a 13.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Symbotic Price Performance

Shares of SYM traded down $0.38 on Tuesday, reaching $41.12. The company's stock had a trading volume of 746,716 shares, compared to its average volume of 1,861,179. The stock's 50 day simple moving average is $44.09 and its two-hundred day simple moving average is $52.17. The stock has a market capitalization of $24.78 billion, a P/E ratio of -822.14, a PEG ratio of 5.92 and a beta of 1.93. Symbotic Inc. has a 12-month low of $38.19 and a 12-month high of $87.88.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.11). Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The business had revenue of $676.48 million during the quarter, compared to the consensus estimate of $662.65 million. During the same quarter in the previous year, the business posted ($0.04) earnings per share. The firm's revenue was up 23.1% on a year-over-year basis. Analysts expect that Symbotic Inc. will post 0.23 earnings per share for the current year.

Institutional Investors Weigh In On Symbotic

A number of hedge funds have recently bought and sold shares of SYM. Parkside Financial Bank & Trust grew its stake in shares of Symbotic by 100.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company's stock worth $32,000 after buying an additional 268 shares in the last quarter. Quarry LP bought a new position in shares of Symbotic in the 4th quarter valued at about $36,000. Parallel Advisors LLC grew its position in Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company's stock worth $37,000 after acquiring an additional 249 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in Symbotic during the fourth quarter worth approximately $48,000. Finally, NewEdge Advisors LLC increased its stake in Symbotic by 81.5% during the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company's stock worth $50,000 after acquiring an additional 573 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on SYM. Zacks Research lowered Symbotic from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 7th. The Goldman Sachs Group reduced their price objective on shares of Symbotic from $54.00 to $45.00 and set a "sell" rating on the stock in a research report on Tuesday, May 26th. DA Davidson restated a "buy" rating and set a $70.00 target price on shares of Symbotic in a research report on Monday, May 11th. Finally, Weiss Ratings cut shares of Symbotic from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $66.50.

About Symbotic

Symbotic Inc NASDAQ: SYM is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.

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