Carol J. Hibbard Sells 4,055 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) CFO Carol J. Hibbard sold 4,055 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total transaction of $124,488.50. Following the transaction, the chief financial officer now directly owns 44,386 shares of the company’s stock, valued at $1,362,650.20. The trade was a 8.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Symbotic Stock Up 2.0 %

Shares of NASDAQ SYM traded up $0.62 during trading hours on Wednesday, reaching $30.92. 3,928,156 shares of the stock traded hands, compared to its average volume of 2,464,642. The company has a market capitalization of $18.16 billion, a P/E ratio of -515.33, a price-to-earnings-growth ratio of 7.29 and a beta of 1.79. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $50.40. The company’s 50-day simple moving average is $26.97 and its two-hundred day simple moving average is $26.79.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. As a group, sell-side analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Symbotic

Several institutional investors and hedge funds have recently bought and sold shares of SYM. Baillie Gifford & Co. raised its holdings in Symbotic by 32.0% in the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after purchasing an additional 3,410,050 shares in the last quarter. Thematics Asset Management increased its stake in shares of Symbotic by 30.1% in the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock worth $25,565,000 after acquiring an additional 242,661 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Symbotic by 76.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock valued at $21,317,000 after acquiring an additional 379,726 shares during the period. TCW Group Inc. boosted its stake in Symbotic by 51.7% during the fourth quarter. TCW Group Inc. now owns 582,955 shares of the company’s stock worth $13,822,000 after acquiring an additional 198,681 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Symbotic by 10.2% in the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after purchasing an additional 46,721 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SYM shares. TD Cowen boosted their target price on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Oppenheimer began coverage on Symbotic in a research report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price target for the company. Citigroup reiterated a “buy” rating and issued a $37.00 target price on shares of Symbotic in a research note on Monday, January 13th. Needham & Company LLC restated a “buy” rating and set a $35.00 price target on shares of Symbotic in a research note on Friday, January 17th. Finally, DA Davidson upgraded Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.73.

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.