Insider Selling: Symbotic (NASDAQ:SYM) Director Sells $173,499.48 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Merline Saintil sold 3,414 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $50.82, for a total transaction of $173,499.48. Following the completion of the sale, the director directly owned 75,344 shares in the company, valued at approximately $3,828,982.08. The trade was a 4.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Symbotic Stock Down 2.3%

Shares of SYM opened at $49.43 on Monday. The company has a 50-day moving average price of $58.68 and a two-hundred day moving average price of $60.85. The stock has a market cap of $29.77 billion, a price-to-earnings ratio of -494.25, a P/E/G ratio of 4.96 and a beta of 2.13. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $87.88.

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

Hedge Funds Weigh In On Symbotic

Several institutional investors have recently bought and sold shares of SYM. MAI Capital Management grew its holdings 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 purchasing an additional 500 shares during the last quarter. IAG Wealth Partners LLC bought a new position in shares of Symbotic in the second quarter valued at about $32,000. Parkside Financial Bank & Trust lifted its position in 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 buying an additional 268 shares in the last quarter. Quarry LP acquired a new position in Symbotic during the 4th quarter worth about $36,000. Finally, Parallel Advisors LLC grew its holdings in Symbotic by 67.3% during the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after acquiring an additional 249 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. TD Cowen reiterated a “buy” rating on shares of Symbotic in a research note on Wednesday, December 3rd. Barclays boosted their target price on shares of Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Monday, January 12th. Wall Street Zen lowered shares of Symbotic from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a research report on Tuesday, November 25th. Finally, Robert W. Baird boosted their price target on shares of Symbotic from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.57.

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.