Symbotic (NASDAQ:SYM) Stock Price Down 1.2% Following Insider Selling

Key Points

• Symbotic Inc. experienced a 1.2% decline in its stock price after insider Maria G. Freve sold 478 shares at an average price of $54.73, reducing her stake by 12.61%.
• Analysts have mixed views on Symbotic, with one firm reducing its rating from "strong-buy" to "hold," while Oppenheimer and Northland Securities increased their price targets to $54.00 and $56.00, respectively.
• The company reported a 39.7% year-over-year increase in revenue with $549.65 million, but had a negative net margin of 0.23% and missed earnings expectations, reporting ($0.04) per share.

Symbotic Inc. (NASDAQ:SYM - Get Free Report)'s stock price was down 1.2% during trading on Monday after an insider sold shares in the company. The company traded as low as $51.73 and last traded at $52.38. Approximately 395,153 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,905,695 shares. The stock had previously closed at $52.99.

Specifically, insider Maria G. Freve sold 478 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $54.73, for a total transaction of $26,160.94. Following the completion of the sale, the insider owned 3,312 shares of the company's stock, valued at $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 at this link.

Analysts Set New Price Targets

SYM has been the topic of a number of analyst reports. Arete Research cut shares of Symbotic from a "strong-buy" rating to a "hold" rating in a research note on Friday. Oppenheimer reiterated an "outperform" rating and issued a $54.00 price target (up previously from $35.00) on shares of Symbotic in a research note on Wednesday, July 16th. Northland Securities boosted their price target on shares of Symbotic from $35.00 to $56.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. 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. Finally, The Goldman Sachs Group decreased their target price on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Symbotic has a consensus rating of "Hold" and an average price target of $39.94.

Symbotic Stock Down 1.1%

The company has a market capitalization of $30.91 billion, a price-to-earnings ratio of -1,309.50, a P/E/G ratio of 55.20 and a beta of 2.03. The company's 50 day simple moving average is $37.82 and its two-hundred day simple moving average is $28.94.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. Symbotic had a negative net margin of 0.23% and a negative return on equity of 1.26%. Symbotic's revenue was up 39.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.07) earnings per share. Analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Walmart Inc. purchased a new position in shares of Symbotic in the fourth quarter worth $355,650,000. Vanguard Group Inc. raised its holdings in shares of Symbotic by 41.3% in the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock worth $117,846,000 after buying an additional 1,452,627 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Symbotic by 16.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,343,902 shares of the company's stock worth $27,155,000 after buying an additional 187,538 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of Symbotic by 12.1% in the first quarter. Raymond James Financial Inc. now owns 980,922 shares of the company's stock worth $19,824,000 after acquiring an additional 105,616 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Symbotic by 25.9% in the fourth quarter. Invesco Ltd. now owns 727,890 shares of the company's stock worth $17,258,000 after acquiring an additional 149,918 shares during the period.

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.

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