Symbotic Inc. (NASDAQ:SYM) Director Rollin L. Ford Sells 49,998 Shares of Stock

Symbotic Inc. (NASDAQ:SYMGet Free Report) Director Rollin L. Ford sold 49,998 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $37.29, for a total value of $1,864,425.42. Following the completion of the sale, the director now owns 10,447 shares in the company, valued at $389,568.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Symbotic Price Performance

NASDAQ SYM traded down $1.37 on Tuesday, reaching $36.35. 1,285,779 shares of the company’s stock traded hands, compared to its average volume of 1,370,161. The stock has a market cap of $21.25 billion, a PE ratio of -151.45 and a beta of 1.93. Symbotic Inc. has a 12 month low of $29.62 and a 12 month high of $64.14. The stock has a 50-day simple moving average of $41.75 and a 200 day simple moving average of $44.79.

Symbotic (NASDAQ:SYMGet Free Report) last issued its earnings results on Monday, May 6th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.25. Symbotic had a positive return on equity of 5.27% and a negative net margin of 1.27%. The company had revenue of $424.30 million during the quarter, compared to analysts’ expectations of $415.98 million. As a group, analysts anticipate that Symbotic Inc. will post -0.07 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Van ECK Associates Corp bought a new position in Symbotic in the 4th quarter worth about $26,000. RiverPark Advisors LLC bought a new stake in Symbotic during the first quarter valued at about $37,000. Providence Capital Advisors LLC purchased a new position in Symbotic in the 3rd quarter worth approximately $33,000. Pingora Partners LLC purchased a new position in Symbotic during the fourth quarter valued at $51,000. Finally, Global Retirement Partners LLC increased its holdings in shares of Symbotic by 166.7% in the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after purchasing an additional 660 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SYM shares. William Blair restated a “market perform” rating on shares of Symbotic in a research note on Friday, May 10th. Robert W. Baird boosted their price target on shares of Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Needham & Company LLC reissued a “buy” rating and set a $54.00 target price on shares of Symbotic in a report on Tuesday, May 7th. Finally, Craig Hallum raised their price target on Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.69.

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About Symbotic

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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.

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