Symbotic Inc. (NASDAQ:SYM) Insider William M. Boyd III Sells 2,660 Shares

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 2,660 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total transaction of $73,416.00. Following the completion of the sale, the insider now directly owns 40,812 shares in the company, valued at approximately $1,126,411.20. The trade was a 6.12 % 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 Trading Down 2.5 %

Symbotic stock opened at $26.09 on Friday. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $50.40. The company’s 50-day moving average is $27.27 and its two-hundred day moving average is $26.44. The company has a market cap of $15.35 billion, a PE ratio of -372.66, a PEG ratio of 6.64 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. Research analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

Analyst Ratings Changes

SYM has been the subject of a number of recent research reports. Raymond James cut Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. William Blair reiterated a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Craig Hallum downgraded shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research note on Wednesday, November 27th. TD Cowen boosted their price target on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, January 8th. One equities 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.33.

Hedge Funds Weigh In On Symbotic

Institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Symbotic by 26.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,801 shares of the company’s stock valued at $1,750,000 after acquiring an additional 15,394 shares during the period. Twinbeech Capital LP acquired a new stake in Symbotic in the fourth quarter worth $480,000. Two Sigma Investments LP boosted its position in shares of Symbotic by 26.2% during the fourth quarter. Two Sigma Investments LP now owns 321,622 shares of the company’s stock worth $7,626,000 after purchasing an additional 66,755 shares in the last quarter. Tanaka Capital Management Inc. grew its holdings in shares of Symbotic by 68.7% in the 4th quarter. Tanaka Capital Management Inc. now owns 72,688 shares of the company’s stock valued at $1,723,000 after buying an additional 29,596 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Symbotic by 931.7% during the 4th quarter. Janus Henderson Group PLC now owns 179,516 shares of the company’s stock worth $4,256,000 after buying an additional 162,116 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.