Symbotic Inc. (NASDAQ:SYM) Insider William M. Boyd III Sells 2,455 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 2,455 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $22.31, for a total transaction of $54,771.05. Following the completion of the sale, the insider now owns 39,659 shares in the company, valued at $884,792.29. The trade was a 5.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Symbotic Stock Performance

NASDAQ:SYM opened at $21.50 on Thursday. The company has a market capitalization of $12.65 billion, a P/E ratio of -307.10, a P/E/G ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $50.41. The stock’s 50 day moving average price is $26.24 and its 200 day moving average price is $26.49.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. As a group, sell-side analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Trading of Symbotic

A number of hedge funds have recently modified their holdings of the company. Atria Investments Inc boosted its holdings in shares of Symbotic by 64.1% in the 3rd quarter. Atria Investments Inc now owns 10,950 shares of the company’s stock valued at $267,000 after buying an additional 4,277 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Symbotic during the third quarter worth $602,000. Oppenheimer & Co. Inc. boosted its position in Symbotic by 76.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,131 shares of the company’s stock worth $320,000 after buying an additional 5,694 shares during the period. Quest Partners LLC raised its position in shares of Symbotic by 19,307.7% during the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after acquiring an additional 2,510 shares during the last quarter. Finally, Prospera Financial Services Inc bought a new stake in Symbotic during the third quarter valued at $464,000.

Analysts Set New Price Targets

A number of research analysts have issued reports on SYM shares. UBS Group decreased their price target on Symbotic from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. TD Cowen lifted their price target on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. BWS Financial restated a “sell” rating and issued a $10.00 target price on shares of Symbotic in a research report on Tuesday, January 21st. The Goldman Sachs Group cut their target price on shares of Symbotic from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Finally, DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Symbotic presently has a consensus rating of “Hold” and an average price target of $38.20.

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.