Symbotic Inc. (NASDAQ:SYM) Director Rollin L. Ford Sells 28,740 Shares

Symbotic Inc. (NASDAQ:SYM) Director Rollin L. Ford sold 28,740 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.02, for a total value of $747,814.80. Following the sale, the director now directly owns 10,447 shares of the company’s stock, valued at approximately $271,830.94. This trade represents a 73.34 % 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 Price Performance

Shares of NASDAQ SYM opened at $24.38 on Tuesday. The stock’s 50-day moving average is $27.22 and its two-hundred day moving average is $26.51. Symbotic Inc. has a 1-year low of $17.11 and a 1-year high of $50.40. The company has a market cap of $14.34 billion, a price-to-earnings ratio of -348.24, a price-to-earnings-growth ratio of 6.48 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. Equities research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SYM shares. Northland Securities raised their target price on Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. The Goldman Sachs Group cut their target price on Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. UBS Group cut their target price on Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Craig Hallum cut Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research note on Wednesday, November 27th. Finally, Citigroup reiterated a “buy” rating and issued a $37.00 price objective on shares of Symbotic in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $38.33.

Institutional Investors Weigh In On Symbotic

Several large investors have recently bought and sold shares of the stock. Walmart Inc. acquired a new position in shares of Symbotic during the 4th quarter worth about $355,650,000. Baillie Gifford & Co. boosted its position in shares of Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after acquiring an additional 3,410,050 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Symbotic by 100.6% during the 4th quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company’s stock worth $411,000 after acquiring an additional 3,110,075 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Symbotic by 41.3% during the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock worth $117,846,000 after acquiring an additional 1,452,627 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Symbotic during the 4th quarter worth about $20,754,000.

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.