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 on 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 $1,126,411.20. This represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Symbotic Trading Down 2.5 %

SYM traded down $0.67 on Thursday, reaching $26.09. The company had a trading volume of 1,595,050 shares, compared to its average volume of 2,459,072. The company has a fifty day moving average of $27.27 and a 200-day moving average of $26.44. The company has a market capitalization of $15.35 billion, a P/E ratio of -372.66, a PEG ratio of 6.90 and a beta of 1.79. Symbotic Inc. has a one year low of $17.11 and a one year high of $50.40.

Symbotic (NASDAQ:SYM) last announced its earnings results 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 predict that Symbotic Inc. will post 0.13 EPS for the current year.

Hedge Funds Weigh In On Symbotic

A number of institutional investors and hedge funds have recently bought and sold shares of SYM. Walmart Inc. bought a new position in Symbotic in the 4th quarter valued at about $355,650,000. Baillie Gifford & Co. grew its position in Symbotic by 32.0% in the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after buying an additional 3,410,050 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Symbotic by 100.6% during the 4th quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company’s stock valued at $411,000 after purchasing an additional 3,110,075 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Symbotic by 41.3% in the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock worth $117,846,000 after purchasing an additional 1,452,627 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Symbotic in the 4th quarter worth approximately $20,754,000.

Analysts Set New Price Targets

SYM has been the topic of a number of research reports. UBS Group dropped their target price on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. William Blair reissued a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. Needham & Company LLC dropped their target price on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Oppenheimer initiated coverage on shares of Symbotic in a report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, KeyCorp reissued a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Symbotic has an average rating of “Hold” and a consensus target price of $38.33.

About Symbotic

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.