Insider Selling: Symbotic Inc. (NASDAQ:SYM) Insider Sells 2,660 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 2,660 shares of Symbotic stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total value of $73,416.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Symbotic Price Performance

NASDAQ:SYM opened at $24.47 on Friday. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $50.40. The stock’s 50 day simple moving average is $27.22 and its two-hundred day simple moving average is $26.45. The company has a market cap of $14.40 billion, a price-to-earnings ratio of -349.52, a PEG ratio of 6.48 and a beta of 1.79.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on SYM shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research report on Thursday, February 6th. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Wednesday, January 8th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. Oppenheimer began coverage on Symbotic in a report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, Citigroup reissued a “buy” rating and issued a $37.00 price target on shares of Symbotic in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $38.33.

Institutional Trading of Symbotic

A number of large investors have recently added to or reduced their stakes in SYM. Walmart Inc. bought a new position in shares of Symbotic during the 4th quarter valued at approximately $355,650,000. Baillie Gifford & Co. increased its position in shares of Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after purchasing an additional 3,410,050 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Symbotic by 41.3% during the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock valued at $117,846,000 after purchasing an additional 1,452,627 shares during the last quarter. Thematics Asset Management increased its position in shares of Symbotic by 30.1% during the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock valued at $25,565,000 after purchasing an additional 242,661 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Symbotic during the 4th quarter valued at approximately $20,754,000.

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.