Symbotic Inc. (NASDAQ:SYM) Insider Sells $54,771.05 in Stock

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 2,455 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $22.31, for a total transaction of $54,771.05. Following the sale, the insider now directly owns 39,659 shares of the company’s stock, valued at approximately $884,792.29. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Symbotic Stock Performance

Symbotic stock traded up $0.51 during trading hours on Wednesday, hitting $21.50. The company had a trading volume of 1,687,020 shares, compared to its average volume of 1,881,025. The firm has a market cap of $12.65 billion, a P/E ratio of -307.10, a P/E/G ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $50.41. The company has a 50-day moving average price of $26.24 and a two-hundred day moving average price of $26.49.

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

Institutional Investors Weigh In On Symbotic

Several large investors have recently modified their holdings of SYM. Walmart Inc. bought a new stake in shares of Symbotic in the 4th quarter valued at about $355,650,000. JPMorgan Chase & Co. increased its stake in Symbotic by 100.6% during the 4th quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company’s stock valued at $411,000 after purchasing an additional 3,110,075 shares in the last quarter. Vanguard Group Inc. increased its stake in Symbotic by 41.3% during the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock valued at $117,846,000 after purchasing an additional 1,452,627 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Symbotic during the 4th quarter valued at approximately $20,754,000. Finally, Thematics Asset Management increased its stake in Symbotic by 30.1% during the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock valued at $25,565,000 after purchasing an additional 242,661 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on SYM. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, January 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a research note on Thursday, February 6th. Citigroup reissued a “buy” rating and issued a $37.00 price objective on shares of Symbotic in a research note on Monday, January 13th. UBS Group dropped their price objective on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Finally, Needham & Company LLC dropped their price objective on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $38.20.

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.