Symbotic Inc. (NASDAQ:SYM) Insider William M. Boyd III Sells 8,826 Shares

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 8,826 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $28.33, for a total value of $250,040.58. Following the completion of the sale, the insider now directly owns 23,012 shares in the company, valued at approximately $651,929.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Symbotic Price Performance

Shares of SYM opened at $29.96 on Thursday. The firm has a market capitalization of $17.54 billion, a P/E ratio of -157.68 and a beta of 1.84. Symbotic Inc. has a one year low of $17.11 and a one year high of $59.82. The business has a fifty day moving average of $24.10 and a 200 day moving average of $31.98.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Monday, July 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. The firm had revenue of $491.86 million for the quarter, compared to the consensus estimate of $464.56 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The company’s revenue for the quarter was up 57.7% compared to the same quarter last year. Analysts expect that Symbotic Inc. will post -0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. The Goldman Sachs Group dropped their target price on Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Northland Securities cut their price objective on shares of Symbotic from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Citigroup cut their price target on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Finally, BWS Financial restated a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Symbotic has an average rating of “Moderate Buy” and an average target price of $43.23.

Institutional Trading of Symbotic

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Symbotic by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock worth $109,189,000 after acquiring an additional 345,386 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Symbotic by 191.5% during the second quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after purchasing an additional 509,700 shares during the period. Blair William & Co. IL increased its position in Symbotic by 418.1% in the first quarter. Blair William & Co. IL now owns 33,365 shares of the company’s stock worth $1,501,000 after buying an additional 26,925 shares in the last quarter. Comerica Bank raised its stake in shares of Symbotic by 1,347.0% in the first quarter. Comerica Bank now owns 16,641 shares of the company’s stock worth $749,000 after buying an additional 15,491 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Symbotic by 6,694.5% during the 2nd quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock valued at $11,801,000 after buying an additional 330,709 shares in the last quarter.

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.