Insider Selling: Symbotic Inc. (NASDAQ:SYM) Director Sells 5,250 Shares of Stock

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

Symbotic Stock Performance

Symbotic stock traded down $1.16 during trading on Friday, reaching $27.42. 1,433,501 shares of the company’s stock were exchanged, compared to its average volume of 1,599,124. The firm has a market cap of $16.06 billion, a price-to-earnings ratio of -150.42 and a beta of 1.84. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $59.82. The company’s 50-day moving average is $23.72 and its two-hundred day moving average is $32.50.

Symbotic (NASDAQ:SYM) last released its 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 company had revenue of $491.86 million during the quarter, compared to the consensus estimate of $464.56 million. Symbotic’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.07) EPS. Analysts anticipate that Symbotic Inc. will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SYM. RiverPark Advisors LLC acquired a new position in shares of Symbotic in the 1st quarter valued at $37,000. Castleview Partners LLC lifted its stake in shares of Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after buying an additional 500 shares during the last quarter. RFP Financial Group LLC grew its position in shares of Symbotic by 22.4% in the second quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock valued at $59,000 after purchasing an additional 310 shares during the last quarter. Quarry LP acquired a new position in shares of Symbotic during the second quarter worth approximately $65,000. Finally, Natixis Investment Managers International bought a new stake in Symbotic in the 1st quarter valued at $90,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. BWS Financial reissued a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a report on Friday, October 11th. The Goldman Sachs Group lowered their price objective on Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Vertical Research assumed coverage on shares of Symbotic in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $45.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.