Symbotic Inc. (NASDAQ:SYM) Insider Sells $41,840.01 in Stock

Symbotic Inc. (NASDAQ:SYM) insider Maria G. Freve sold 1,929 shares of Symbotic stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $21.69, for a total transaction of $41,840.01. Following the completion of the transaction, the insider now owns 2,646 shares in the company, valued at approximately $57,391.74. This trade represents a 42.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Symbotic Trading Down 0.6 %

NASDAQ:SYM opened at $21.93 on Monday. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $48.98. The firm has a market capitalization of $12.90 billion, a price-to-earnings ratio of -313.24, a PEG ratio of 6.48 and a beta of 1.86. The firm’s fifty day simple moving average is $21.49 and its 200 day simple moving average is $26.14.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping 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%. On average, analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Symbotic

Several hedge funds and other institutional investors have recently modified their holdings of SYM. Walmart Inc. bought a new stake in shares of Symbotic in the 4th quarter worth about $355,650,000. JPMorgan Chase & Co. raised 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 acquiring an additional 3,110,075 shares in the last quarter. Vanguard Group Inc. raised 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 acquiring an additional 1,452,627 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Symbotic during the 4th quarter valued at $20,754,000. Finally, Hood River Capital Management LLC acquired a new position in shares of Symbotic during the 4th quarter valued at $5,704,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Needham & Company LLC lowered their price objective on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. The Goldman Sachs Group cut their price target on Symbotic from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Oppenheimer started coverage on Symbotic in a research note on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price target for the company. BWS Financial restated a “sell” rating and set a $10.00 target price on shares of Symbotic in a research report on Wednesday, April 2nd. Finally, Northland Securities raised their target price on shares of Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Symbotic has a consensus rating of “Hold” and an average target price of $37.20.

About Symbotic

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.