Symbotic Inc. (NASDAQ:SYM) Director Rollin L. Ford Sells 28,740 Shares

Symbotic Inc. (NASDAQ:SYM) Director Rollin L. Ford sold 28,740 shares of Symbotic stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.02, for a total value of $747,814.80. Following the transaction, the director now directly owns 10,447 shares in the company, valued at approximately $271,830.94. The trade was a 73.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Symbotic Stock Down 0.4 %

Symbotic stock traded down $0.09 during trading on Monday, hitting $24.38. The stock had a trading volume of 1,968,071 shares, compared to its average volume of 2,421,758. The stock’s 50 day moving average is $27.22 and its two-hundred day moving average is $26.51. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $50.40. The stock has a market cap of $14.34 billion, a price-to-earnings ratio of -348.24, a price-to-earnings-growth ratio of 6.48 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. As a group, equities research analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Symbotic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYM. IFP Advisors Inc raised its position in shares of Symbotic by 58.2% in the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after purchasing an additional 503 shares during the period. Private Trust Co. NA purchased a new position in Symbotic in the 4th quarter valued at approximately $47,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Symbotic during the 4th quarter valued at $47,000. Arcadia Investment Management Corp MI bought a new stake in Symbotic during the 3rd quarter valued at $49,000. Finally, RiverPark Advisors LLC lifted its position in shares of Symbotic by 147.1% during the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after acquiring an additional 1,211 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. BWS Financial reaffirmed a “sell” rating and set a $10.00 price objective on shares of Symbotic in a report on Tuesday, January 21st. Oppenheimer started coverage on shares of Symbotic in a research report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price target on the stock. UBS Group reduced their price objective on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Craig Hallum cut shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research report on Wednesday, November 27th. Finally, Raymond James downgraded Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.33.

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.