Symbotic Inc. (NASDAQ:SYM) Director Rollin L. Ford Sells 28,740 Shares

Symbotic Inc. (NASDAQ:SYM) Director Rollin L. Ford sold 28,740 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $26.02, for a total transaction of $747,814.80. Following the transaction, the director now owns 10,447 shares of the company’s stock, valued at $271,830.94. This trade represents a 73.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Symbotic Trading Down 0.4 %

Shares of NASDAQ:SYM traded down $0.09 on Monday, reaching $24.38. 1,968,071 shares of the company traded hands, compared to its average volume of 2,421,758. The stock has a market capitalization of $14.34 billion, a P/E ratio of -348.24, a price-to-earnings-growth ratio of 6.48 and a beta of 1.79. The business’s 50-day simple moving average is $27.22 and its 200 day simple moving average is $26.51. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $50.40.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (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%. Sell-side analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Institutional Trading of Symbotic

Institutional investors have recently modified their holdings of the company. Walmart Inc. bought a new stake in shares of Symbotic in the 4th quarter worth approximately $355,650,000. Baillie Gifford & Co. boosted its holdings in Symbotic by 32.0% in the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after acquiring an additional 3,410,050 shares in the last quarter. Vanguard Group Inc. increased its position in 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 period. Thematics Asset Management increased its position in 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 period. Finally, Raymond James Financial Inc. bought a new position in Symbotic in the 4th quarter worth $20,754,000.

Wall Street Analyst Weigh In

SYM has been the subject of several recent analyst reports. KeyCorp restated a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. William Blair reissued a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. DA Davidson upgraded shares of 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. Raymond James lowered shares of Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Symbotic currently has an average rating of “Hold” and an average target price of $38.33.

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.