Symbotic Inc. (NASDAQ:SYM) Director Sells $747,814.80 in Stock

Symbotic Inc. (NASDAQ:SYM) Director Rollin L. Ford sold 28,740 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.02, for a total transaction of $747,814.80. Following the completion of the sale, the director now owns 10,447 shares of the company’s stock, valued at $271,830.94. The trade was a 73.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Symbotic Stock Up 1.2 %

Shares of SYM stock opened at $23.72 on Thursday. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $50.40. The company’s fifty day simple moving average is $27.12 and its 200-day simple moving average is $26.52. The firm has a market cap of $13.96 billion, a PE ratio of -338.81, a P/E/G ratio of 6.48 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. On average, equities analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SYM shares. UBS Group reduced their target price on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday. BWS Financial reaffirmed a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a research note on Tuesday, January 21st. Northland Securities upped their target price on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Oppenheimer started coverage on Symbotic in a research note on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $38.20.

Institutional Investors Weigh In On Symbotic

Several hedge funds have recently bought and sold shares of SYM. IFP Advisors Inc raised its stake in 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 buying an additional 503 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Symbotic during the 4th quarter worth approximately $47,000. Arcadia Investment Management Corp MI bought a new position in shares of Symbotic in the third quarter valued at about $49,000. Private Trust Co. NA acquired a new stake in Symbotic during the fourth quarter worth approximately $47,000. Finally, RiverPark Advisors LLC lifted its holdings in Symbotic by 147.1% during the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after purchasing an additional 1,211 shares during 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.