Symbotic (NASDAQ:SYM) Insider Sells $130,735.80 in Stock

Symbotic Inc. (NASDAQ:SYM) insider Maria Freve sold 2,265 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $57.72, for a total transaction of $130,735.80. Following the transaction, the insider directly owned 739 shares of the company’s stock, valued at $42,655.08. This trade represents a 75.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Symbotic Stock Down 0.4%

SYM opened at $58.89 on Friday. The firm has a 50-day simple moving average of $54.62 and a two-hundred day simple moving average of $61.00. Symbotic Inc. has a 52 week low of $21.89 and a 52 week high of $87.88. The company has a market capitalization of $35.46 billion, a PE ratio of -588.84, a price-to-earnings-growth ratio of 5.90 and a beta of 2.03.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.06). Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The company had revenue of $629.99 million for the quarter, compared to the consensus estimate of $622.58 million. During the same period last year, the company earned ($0.03) EPS. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. As a group, sell-side analysts expect that Symbotic Inc. will post 0.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SYM shares. Barclays boosted their target price on shares of Symbotic from $42.00 to $44.00 and gave the stock an “underweight” rating in a report on Monday, March 16th. UBS Group set a $70.00 target price on shares of Symbotic in a report on Wednesday, February 18th. Weiss Ratings restated a “hold (c-)” rating on shares of Symbotic in a report on Tuesday, April 21st. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $70.00 in a report on Wednesday, April 15th. Finally, Wall Street Zen downgraded shares of Symbotic from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Symbotic presently has a consensus rating of “Hold” and a consensus target price of $65.62.

Hedge Funds Weigh In On Symbotic

Several hedge funds have recently added to or reduced their stakes in the company. Centerpoint Advisors LLC grew its holdings in Symbotic by 16.7% during the 3rd quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock valued at $75,000 after purchasing an additional 200 shares during the last quarter. Federation des caisses Desjardins du Quebec grew its holdings in Symbotic by 5.2% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,493 shares of the company’s stock valued at $267,000 after purchasing an additional 224 shares during the last quarter. Barton Investment Management grew its holdings in Symbotic by 0.8% during the 4th quarter. Barton Investment Management now owns 30,658 shares of the company’s stock valued at $1,824,000 after purchasing an additional 233 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Symbotic by 2.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 11,375 shares of the company’s stock valued at $677,000 after purchasing an additional 236 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in Symbotic by 67.3% during the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after purchasing an additional 249 shares during the last quarter.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.