Insider Selling: Symbotic (NASDAQ:SYM) Insider Sells 5,115 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider William Boyd III sold 5,115 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $63.89, for a total transaction of $326,797.35. Following the sale, the insider directly owned 19,199 shares in the company, valued at $1,226,624.11. This trade represents a 21.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Symbotic Trading Up 2.7%

SYM traded up $1.83 on Tuesday, reaching $70.45. The stock had a trading volume of 1,892,517 shares, compared to its average volume of 2,307,616. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $87.88. The business’s 50-day moving average price is $65.52 and its two-hundred day moving average price is $57.34. The company has a market cap of $41.67 billion, a P/E ratio of -469.67, a price-to-earnings-growth ratio of 18.40 and a beta of 2.13.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.11). Symbotic had a negative return on equity of 3.89% and a negative net margin of 0.75%.The firm had revenue of $618.46 million for the quarter, compared to analysts’ expectations of $604.00 million. During the same period in the previous year, the company earned $0.47 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. As a group, analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Needham & Company LLC boosted their price objective on Symbotic from $57.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Oppenheimer reissued an “outperform” rating and set a $83.00 target price on shares of Symbotic in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Symbotic from $55.00 to $63.00 and gave the company a “hold” rating in a research note on Tuesday, November 25th. Northland Securities boosted their price objective on Symbotic from $56.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Finally, The Goldman Sachs Group cut Symbotic from a “neutral” rating to a “sell” rating and set a $47.00 target price for the company. in a report on Tuesday, December 2nd. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.50.

Institutional Trading of Symbotic

Large investors have recently bought and sold shares of the business. MAI Capital Management lifted its stake in Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares in the last quarter. AdvisorNet Financial Inc acquired a new stake in shares of Symbotic in the second quarter valued at approximately $32,000. IAG Wealth Partners LLC acquired a new stake in shares of Symbotic in the second quarter valued at approximately $32,000. Ameriflex Group Inc. lifted its position in Symbotic by 1,500.0% during the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after buying an additional 660 shares in the last quarter. Finally, Gables Capital Management Inc. acquired a new position in Symbotic during the second quarter worth $39,000.

Symbotic Company Profile

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.