Symbotic Inc. (NASDAQ:SYM) Insider William M. Boyd III Sells 8,826 Shares

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 8,826 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $28.33, for a total transaction of $250,040.58. Following the completion of the transaction, the insider now directly owns 23,012 shares of the company’s stock, valued at $651,929.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Symbotic Trading Up 1.5 %

Shares of NASDAQ:SYM opened at $29.96 on Thursday. The company has a market cap of $17.54 billion, a price-to-earnings ratio of -157.68 and a beta of 1.84. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $59.82. The company has a 50-day moving average price of $24.10 and a 200 day moving average price of $31.98.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). The company had revenue of $491.86 million during the quarter, compared to the consensus estimate of $464.56 million. Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. 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 business earned ($0.07) earnings per share. As a group, equities analysts forecast that Symbotic Inc. will post -0.08 EPS for the current year.

Wall Street Analyst Weigh In

SYM has been the subject of a number of recent analyst reports. The Goldman Sachs Group dropped their price objective on Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. TD Cowen dropped their price target on Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. BWS Financial reiterated a “sell” rating and set a $10.00 price objective on shares of Symbotic in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Needham & Company LLC reduced their price target on shares of Symbotic from $54.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Symbotic presently has an average rating of “Moderate Buy” and a consensus target price of $43.23.

Institutional Trading of Symbotic

A number of institutional investors have recently bought and sold shares of SYM. RFP Financial Group LLC raised its stake in shares of Symbotic by 21.2% in the first quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock valued at $62,000 after acquiring an additional 242 shares during the period. Advisors Asset Management Inc. grew its holdings in Symbotic by 11.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $123,000 after purchasing an additional 284 shares during the last quarter. Castleview Partners LLC raised its position in Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares during the period. California State Teachers Retirement System lifted its stake in Symbotic by 4.5% in the first quarter. California State Teachers Retirement System now owns 15,057 shares of the company’s stock worth $678,000 after purchasing an additional 654 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Symbotic by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock valued at $304,000 after buying an additional 679 shares during the period.

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.