Symbotic Inc. (NASDAQ:SYM) CFO Carol J. Hibbard Sells 4,055 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) CFO Carol J. Hibbard sold 4,055 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total transaction of $124,488.50. Following the completion of the sale, the chief financial officer now owns 44,386 shares of the company’s stock, valued at $1,362,650.20. This trade represents a 8.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Symbotic Stock Up 2.0 %

NASDAQ SYM opened at $30.92 on Thursday. The firm’s fifty day moving average price is $26.97 and its two-hundred day moving average price is $26.79. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $50.40.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. As a group, sell-side analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SYM. Oppenheimer began coverage on shares of Symbotic in a research report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price objective for the company. BWS Financial reiterated a “sell” rating and issued a $10.00 price target on shares of Symbotic in a research report on Tuesday, January 21st. TD Cowen lifted 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. KeyCorp reiterated a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. Finally, The Goldman Sachs Group dropped their price target on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.73.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new position in shares of Symbotic during the fourth quarter worth $154,000. Jones Financial Companies Lllp raised its holdings in shares of Symbotic by 154.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock valued at $58,000 after purchasing an additional 1,490 shares during the period. Private Trust Co. NA bought a new position in shares of Symbotic during the 4th quarter worth about $47,000. Taylor Frigon Capital Management LLC boosted its position in shares of Symbotic by 18.7% during the 4th quarter. Taylor Frigon Capital Management LLC now owns 83,233 shares of the company’s stock worth $1,973,000 after purchasing an additional 13,104 shares in the last quarter. Finally, ARK Investment Management LLC bought a new position in shares of Symbotic during the 4th quarter worth about $4,506,000.

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.