Insider Selling: Symbotic Inc. (NASDAQ:SYM) Director Sells 5,250 Shares of Stock

by · The Markets Daily

Symbotic Inc. (NASDAQ:SYM – Get Free Report) Director Merline Saintil sold 5,250 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $28.70, for a total value of $150,675.00. Following the transaction, the director now owns 74,562 shares in the company, valued at approximately $2,139,929.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Symbotic Stock Performance

SYM traded down $1.16 during midday trading on Friday, hitting $27.42. The stock had a trading volume of 1,433,501 shares, compared to its average volume of 1,599,124. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $59.82. The business has a fifty day moving average of $23.72 and a 200 day moving average of $32.50. The company has a market cap of $16.06 billion, a P/E ratio of -150.42 and a beta of 1.84.

Symbotic (NASDAQ:SYM – Get Free Report) last posted its earnings results on Monday, July 29th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The firm had revenue of $491.86 million for the quarter, compared to analysts’ expectations of $464.56 million. Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. The business’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) earnings per share. On average, equities research analysts anticipate that Symbotic Inc. will post -0.08 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on SYM. TD Cowen decreased their price target on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Citigroup lowered their target price on Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. BWS Financial reiterated a “sell” rating and set a $10.00 price target on shares of Symbotic in a research note on Friday, October 11th. KeyCorp lowered their price objective on Symbotic from $55.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Finally, Robert W. Baird cut their target price on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Symbotic presently has a consensus rating of “Moderate Buy” and an average price target of $43.23.

Read Our Latest Stock Analysis on Symbotic

Hedge Funds Weigh In On Symbotic

Large investors have recently made changes to their positions in the business. Hunter Associates Investment Management LLC boosted its position in Symbotic by 29.8% in the third quarter. Hunter Associates Investment Management LLC now owns 63,093 shares of the company’s stock worth $1,528,000 after purchasing an additional 14,487 shares during the last quarter. Taylor Frigon Capital Management LLC grew its stake in Symbotic by 4.9% during the third quarter. Taylor Frigon Capital Management LLC now owns 70,129 shares of the company’s stock valued at $1,699,000 after acquiring an additional 3,255 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Symbotic by 1,273,060.0% during the third quarter. International Assets Investment Management LLC now owns 63,658 shares of the company’s stock valued at $1,553,000 after buying an additional 63,653 shares during the last quarter. Castleview Partners LLC grew its holdings in shares of Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. Finally, nVerses Capital LLC raised its position in shares of Symbotic by 31.1% during the 3rd quarter. nVerses Capital LLC now owns 5,900 shares of the company’s stock valued at $144,000 after buying an additional 1,400 shares in the last quarter.

About Symbotic

(Get Free Report)

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.

Further Reading