Insider Selling: Symbotic (NASDAQ:SYM) Insider Sells $148,552.05 in Stock

Symbotic Inc. (NASDAQ:SYM) insider William Boyd III sold 2,455 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $60.51, for a total transaction of $148,552.05. Following the completion of the transaction, the insider directly owned 24,314 shares in the company, valued at $1,471,240.14. The trade was a 9.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Symbotic Price Performance

Shares of SYM opened at $59.00 on Friday. The firm has a 50-day simple moving average of $67.58 and a two-hundred day simple moving average of $54.68. The stock has a market cap of $34.90 billion, a PE ratio of -393.33, a P/E/G ratio of 16.51 and a beta of 2.10. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $87.88.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 24th. The company reported ($0.03) 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 company had revenue of $618.46 million during the quarter, compared to analyst estimates of $604.00 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Trading of Symbotic

Hedge funds have recently added to or reduced their stakes in the company. Private Trust Co. NA grew its holdings in Symbotic by 10.0% during the 2nd quarter. Private Trust Co. NA now owns 2,200 shares of the company’s stock worth $85,000 after acquiring an additional 200 shares in the last quarter. Centerpoint Advisors LLC lifted its position in shares of Symbotic by 16.7% during the 3rd quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock worth $75,000 after purchasing an additional 200 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Symbotic by 4.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,627 shares of the company’s stock worth $357,000 after purchasing an additional 273 shares during the last quarter. AlphaQuest LLC grew its stake in shares of Symbotic by 12.9% during the third quarter. AlphaQuest LLC now owns 2,519 shares of the company’s stock worth $136,000 after purchasing an additional 287 shares in the last quarter. Finally, Bouvel Investment Partners LLC increased its holdings in Symbotic by 0.8% in the third quarter. Bouvel Investment Partners LLC now owns 44,479 shares of the company’s stock valued at $2,397,000 after buying an additional 336 shares during the last quarter.

Wall Street Analyst Weigh In

SYM has been the topic of several research reports. Cantor Fitzgerald increased their target price on Symbotic from $60.00 to $82.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Wall Street Zen upgraded shares of Symbotic from a “sell” rating to a “hold” rating in a research note on Sunday, November 30th. Northland Securities raised their price objective on shares of Symbotic from $56.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. The Goldman Sachs Group cut shares of Symbotic from a “neutral” rating to a “sell” rating and set a $47.00 price objective for the company. in a report on Tuesday, December 2nd. Finally, Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.50.

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.