Insider Selling: Symbotic Inc. (NASDAQ:SYM) Insider Sells $73,416.00 in Stock

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 2,660 shares of the company’s 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 sale, the insider now owns 40,812 shares in the company, valued at approximately $1,126,411.20. This represents a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Symbotic Stock Performance

NASDAQ SYM opened at $24.47 on Friday. Symbotic Inc. has a one year low of $17.11 and a one year high of $50.40. The stock has a 50-day moving average of $27.22 and a 200 day moving average of $26.45. The company has a market capitalization 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) EPS 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.

Analyst Ratings Changes

SYM has been the topic of several research analyst reports. Craig Hallum cut shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research report on Wednesday, November 27th. Needham & Company LLC dropped their price objective on Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Symbotic in a research note on Wednesday, November 27th. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Wednesday, January 8th. Finally, Northland Securities raised their price target on Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. IFP Advisors Inc boosted its position in Symbotic by 58.2% in the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after purchasing an additional 503 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Symbotic by 1.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company’s stock worth $1,154,000 after purchasing an additional 619 shares during the last quarter. Van ECK Associates Corp boosted its position in Symbotic by 28.4% in the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock worth $85,000 after purchasing an additional 774 shares during the last quarter. National Bank of Canada FI boosted its position in Symbotic by 36.8% in the third quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock worth $87,000 after purchasing an additional 957 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Symbotic by 40.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company’s stock worth $85,000 after purchasing an additional 1,018 shares during 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.