Insider Selling: Symbotic (NASDAQ:SYM) Insider Sells 8,306 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider Maria Freve sold 8,306 shares of the firm’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $55.11, for a total value of $457,743.66. Following the transaction, the insider directly owned 539 shares of the company’s stock, valued at $29,704.29. The trade was a 93.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Symbotic Stock Down 3.3%

Shares of NASDAQ:SYM opened at $54.37 on Monday. The company has a market capitalization of $32.16 billion, a P/E ratio of -362.47, a P/E/G ratio of 15.42 and a beta of 2.13. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $87.88. The stock’s fifty day simple moving average is $64.70 and its 200-day simple moving average is $60.30.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, November 24th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The firm had revenue of $618.46 million during the quarter, compared to analyst estimates of $604.00 million. During the same period in the previous year, the firm posted $0.47 EPS. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Symbotic by 47.6% during the fourth quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock valued at $412,463,000 after acquiring an additional 2,237,137 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Symbotic in the 3rd quarter valued at about $34,296,000. M&T Bank Corp lifted its stake in shares of Symbotic by 1,108.8% in the 4th quarter. M&T Bank Corp now owns 330,882 shares of the company’s stock valued at $19,687,000 after purchasing an additional 303,510 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Symbotic by 3,188.8% during the 3rd quarter. Franklin Resources Inc. now owns 274,155 shares of the company’s stock worth $14,777,000 after purchasing an additional 265,819 shares during the period. Finally, Handelsbanken Fonder AB increased its position in Symbotic by 626.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 274,178 shares of the company’s stock worth $14,778,000 after purchasing an additional 236,435 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have commented on SYM. Robert W. Baird lifted their target price on shares of Symbotic from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. DA Davidson restated a “neutral” rating and set a $47.00 price objective on shares of Symbotic in a report on Tuesday, November 25th. Zacks Research downgraded Symbotic from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Barclays upped their target price on Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Symbotic in a research note on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.79.

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.