William M. Boyd III Sells 8,825 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 8,825 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $40.34, for a total transaction of $356,000.50. Following the completion of the transaction, the insider now directly owns 23,012 shares of the company’s stock, valued at approximately $928,304.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Symbotic Stock Performance

SYM stock opened at $38.42 on Thursday. The firm has a market cap of $22.17 billion, a PE ratio of -142.30 and a beta of 1.91. The firm’s fifty day moving average is $42.97 and its 200 day moving average is $44.24. Symbotic Inc. has a one year low of $22.40 and a one year high of $64.14.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Monday, February 5th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $368.45 million for the quarter, compared to analyst estimates of $370.28 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. Research analysts predict that Symbotic Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Symbotic

Several institutional investors have recently modified their holdings of SYM. Baillie Gifford & Co. acquired a new stake in shares of Symbotic in the first quarter valued at about $426,752,000. 1832 Asset Management L.P. grew its position in shares of Symbotic by 189.5% in the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock valued at $54,174,000 after purchasing an additional 690,900 shares during the period. Coatue Management LLC acquired a new stake in shares of Symbotic in the fourth quarter valued at about $11,088,000. Hodges Capital Management Inc. acquired a new stake in shares of Symbotic in the third quarter valued at about $5,740,000. Finally, First Trust Advisors LP grew its position in shares of Symbotic by 44.0% in the fourth quarter. First Trust Advisors LP now owns 510,237 shares of the company’s stock valued at $26,190,000 after purchasing an additional 155,828 shares during the period.

Analysts Set New Price Targets

A number of research analysts have issued reports on SYM shares. The Goldman Sachs Group decreased their price target on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 target price on shares of Symbotic in a report on Tuesday, February 6th. Robert W. Baird reduced their target price on shares of Symbotic from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a report on Wednesday, February 7th. Finally, Northland Securities raised their target price on shares of Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Symbotic has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

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.