William Boyd III Sells 9,194 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider William Boyd III sold 9,194 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $41.04, for a total transaction of $377,321.76. Following the completion of the transaction, the insider directly owned 57,112 shares in the company, valued at $2,343,876.48. This represents a 13.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Symbotic Price Performance

Shares of NASDAQ:SYM traded down $0.38 during trading on Tuesday, reaching $41.12. 746,716 shares of the company were exchanged, compared to its average volume of 1,861,179. The business’s fifty day simple moving average is $44.09 and its 200-day simple moving average is $52.17. The firm has a market capitalization of $24.78 billion, a PE ratio of -822.14, a P/E/G ratio of 5.92 and a beta of 1.93. Symbotic Inc. has a 12-month low of $38.19 and a 12-month high of $87.88.

Symbotic (NASDAQ:SYM) last issued its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.11). The firm had revenue of $676.48 million during the quarter, compared to analysts’ expectations of $662.65 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.Symbotic’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.04) earnings per share. On average, sell-side analysts anticipate that Symbotic Inc. will post 0.23 EPS for the current fiscal year.

Institutional Trading of Symbotic

A number of institutional investors and hedge funds have recently modified their holdings of SYM. Vanguard Group Inc. increased its stake in Symbotic by 47.6% during the 4th quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock worth $412,463,000 after buying an additional 2,237,137 shares in the last quarter. Morgan Stanley lifted its position in shares of Symbotic by 85.4% in the fourth quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock valued at $150,587,000 after acquiring an additional 1,165,513 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Symbotic by 51,346.1% in the fourth quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock worth $129,375,000 after acquiring an additional 2,178,615 shares during the last quarter. UBS Group AG boosted its stake in shares of Symbotic by 22.3% in the third quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock worth $59,601,000 after acquiring an additional 201,547 shares during the last quarter. Finally, Ghisallo Capital Management LLC purchased a new stake in shares of Symbotic during the fourth quarter worth approximately $63,034,000.

Analyst Upgrades and Downgrades

SYM has been the topic of several research reports. DA Davidson reissued a “buy” rating and set a $70.00 price objective on shares of Symbotic in a report on Monday, May 11th. The Goldman Sachs Group cut their price target on Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a report on Tuesday, May 26th. Weiss Ratings cut Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, Zacks Research lowered Symbotic from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, Symbotic presently has a consensus rating of “Hold” and an average target price of $66.50.

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.