Symbotic Inc. (NASDAQ:SYM) Director Merline Saintil Sells 5,250 Shares

Symbotic Inc. (NASDAQ:SYM) Director Merline Saintil sold 5,250 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $28.70, for a total value of $150,675.00. Following the transaction, the director now directly owns 74,562 shares in the company, valued at $2,139,929.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Symbotic Price Performance

NASDAQ SYM opened at $27.42 on Friday. The stock has a market capitalization of $16.06 billion, a PE ratio of -144.32 and a beta of 1.84. Symbotic Inc. has a 1-year low of $17.11 and a 1-year high of $59.82. The business has a 50 day simple moving average of $23.82 and a two-hundred day simple moving average of $32.38.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, July 29th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. The business had revenue of $491.86 million during the quarter, compared to the consensus estimate of $464.56 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. The company’s revenue for the quarter was up 57.7% on a year-over-year basis. On average, analysts anticipate that Symbotic Inc. will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Symbotic

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Symbotic by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 2,081,034 shares of the company’s stock valued at $106,819,000 after purchasing an additional 40,699 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Symbotic by 7.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the company’s stock worth $597,000 after buying an additional 800 shares during the period. First Dallas Securities Inc. lifted its stake in shares of Symbotic by 60.8% during the 1st quarter. First Dallas Securities Inc. now owns 19,300 shares of the company’s stock worth $869,000 after acquiring an additional 7,300 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in Symbotic during the 1st quarter valued at $302,000. Finally, Taylor Frigon Capital Management LLC grew its position in Symbotic by 7.0% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 66,962 shares of the company’s stock valued at $3,013,000 after acquiring an additional 4,400 shares during the last quarter.

Analysts Set New Price Targets

SYM has been the topic of a number of research reports. Robert W. Baird dropped their price objective on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Craig Hallum reduced their price objective on Symbotic from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. BWS Financial reiterated a “sell” rating and set a $10.00 target price on shares of Symbotic in a research report on Friday, October 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price target on shares of Symbotic in a report on Friday, October 11th. Finally, KeyCorp decreased their price objective on Symbotic from $55.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.23.

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.