Carol J. Hibbard Sells 4,055 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) CFO Carol J. Hibbard sold 4,055 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total value of $124,488.50. Following the completion of the sale, the chief financial officer now directly owns 44,386 shares in the company, valued at $1,362,650.20. This represents a 8.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Symbotic Stock Down 15.9 %

Shares of SYM opened at $25.99 on Friday. The firm’s 50 day moving average is $27.11 and its 200-day moving average is $26.82. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $50.40.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. On average, research analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

SYM has been the topic of several recent research reports. Oppenheimer began coverage on shares of Symbotic in a research report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price objective on the stock. Craig Hallum cut Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a report on Wednesday, November 27th. Citigroup reissued a “buy” rating and issued a $37.00 price objective on shares of Symbotic in a report on Monday, January 13th. Needham & Company LLC cut their target price on Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.33.

Institutional Investors Weigh In On Symbotic

A number of institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc boosted its stake in Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after purchasing an additional 503 shares during the period. Castleview Partners LLC lifted its holdings in shares of Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. Private Trust Co. NA acquired a new stake in shares of Symbotic in the fourth quarter worth $47,000. Arcadia Investment Management Corp MI purchased a new position in shares of Symbotic during the third quarter valued at $49,000. Finally, RiverPark Advisors LLC raised its position in Symbotic by 147.1% during the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after buying an additional 1,211 shares during the period.

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.