William M. Boyd III Sells 8,826 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 8,826 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $38.71, for a total value of $341,654.46. Following the completion of the sale, the insider now owns 23,012 shares of the company’s stock, valued at approximately $890,794.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Symbotic Trading Down 8.2 %

Shares of SYM traded down $3.17 during mid-day trading on Monday, hitting $35.63. The company’s stock had a trading volume of 2,909,361 shares, compared to its average volume of 1,370,907. Symbotic Inc. has a 1-year low of $29.62 and a 1-year high of $64.14. The firm has a market capitalization of $20.83 billion, a P/E ratio of -148.45 and a beta of 1.87. The firm has a 50-day simple moving average of $37.58 and a 200 day simple moving average of $41.27.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, May 6th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.25. The company had revenue of $424.30 million during the quarter, compared to the consensus estimate of $415.98 million. Symbotic had a positive return on equity of 5.27% and a negative net margin of 1.27%. As a group, sell-side analysts predict that Symbotic Inc. will post -0.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on SYM. The Goldman Sachs Group reduced their price target on shares of Symbotic from $46.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Northland Securities upped their target price on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. William Blair reiterated a “market perform” rating on shares of Symbotic in a research note on Friday, May 10th. Robert W. Baird boosted their price target on Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Finally, Vertical Research initiated coverage on Symbotic in a research report on Tuesday, July 23rd. They set a “hold” rating and a $45.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.50.

Institutional Trading of Symbotic

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp purchased a new position in Symbotic in the fourth quarter valued at about $26,000. RiverPark Advisors LLC acquired a new stake in shares of Symbotic in the 1st quarter worth approximately $37,000. Pingora Partners LLC purchased a new position in Symbotic in the 4th quarter valued at approximately $51,000. Global Retirement Partners LLC raised its holdings in Symbotic by 166.7% during the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after purchasing an additional 660 shares during the last quarter. Finally, TFC Financial Management Inc. boosted its position in Symbotic by 97.1% during the fourth quarter. TFC Financial Management Inc. now owns 1,226 shares of the company’s stock worth $63,000 after purchasing an additional 604 shares in the last quarter.

Symbotic Company Profile

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.