Symbotic (NASDAQ:SYM) Director Rollin Ford Sells 60,000 Shares

by · The Markets Daily

Symbotic Inc. (NASDAQ:SYM – Get Free Report) Director Rollin Ford sold 60,000 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $57.51, for a total transaction of $3,450,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Symbotic Stock Performance

Shares of NASDAQ SYM traded up $0.24 during mid-day trading on Friday, hitting $54.95. The stock had a trading volume of 1,237,826 shares, compared to its average volume of 2,396,283. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $87.88. The firm has a market cap of $32.50 billion, a P/E ratio of -549.45, a price-to-earnings-growth ratio of 7.29 and a beta of 2.13. The business has a 50 day moving average price of $61.37 and a two-hundred day moving average price of $60.50.

Symbotic (NASDAQ:SYM – Get Free Report) last released its earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.06). The business had revenue of $629.99 million for the quarter, compared to analysts’ expectations of $622.58 million. Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. Symbotic’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) earnings per share. Equities research analysts predict that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Northland Securities set a $73.00 target price on Symbotic in a research note on Thursday, February 5th. Barclays raised their price objective on Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Monday, January 12th. The Goldman Sachs Group reiterated a “sell” rating and issued a $50.00 price objective on shares of Symbotic in a report on Thursday, January 15th. Zacks Research cut shares of Symbotic from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Finally, Cantor Fitzgerald raised their target price on Symbotic from $60.00 to $82.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $58.07.

Read Our Latest Stock Report on SYM

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust increased its stake in shares of Symbotic by 100.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after purchasing an additional 268 shares during the last quarter. MAI Capital Management raised its position in shares of Symbotic by 833.3% during the third quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the last quarter. Quarry LP acquired a new stake in shares of Symbotic during the fourth quarter worth $36,000. Parallel Advisors LLC raised its position in shares of Symbotic by 67.3% during the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after purchasing an additional 249 shares during the period. Finally, Ameriflex Group Inc. boosted its position in Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after acquiring an additional 660 shares during the last quarter.

About Symbotic

(Get Free Report)

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.

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