Symbotic Inc. (NASDAQ:SYM) Insider Sells $73,416.00 in Stock

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 2,660 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total value of $73,416.00. Following the completion of the sale, the insider now owns 40,812 shares in the company, valued at $1,126,411.20. The trade was a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Symbotic Stock Down 6.2 %

NASDAQ:SYM opened at $24.47 on Friday. The business’s 50-day moving average price is $27.27 and its 200 day moving average price is $26.44. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $50.40.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. On average, equities analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SYM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Symbotic by 26.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,801 shares of the company’s stock worth $1,750,000 after acquiring an additional 15,394 shares in the last quarter. Twinbeech Capital LP purchased a new stake in shares of Symbotic during the fourth quarter valued at $480,000. Two Sigma Investments LP boosted its position in shares of Symbotic by 26.2% in the 4th quarter. Two Sigma Investments LP now owns 321,622 shares of the company’s stock valued at $7,626,000 after purchasing an additional 66,755 shares during the period. Tanaka Capital Management Inc. increased its stake in Symbotic by 68.7% in the 4th quarter. Tanaka Capital Management Inc. now owns 72,688 shares of the company’s stock worth $1,723,000 after purchasing an additional 29,596 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Symbotic by 931.7% during the 4th quarter. Janus Henderson Group PLC now owns 179,516 shares of the company’s stock worth $4,256,000 after buying an additional 162,116 shares during the period.

Analyst Upgrades and Downgrades

SYM has been the topic of a number of analyst reports. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. Citigroup restated a “buy” rating and issued a $37.00 price target on shares of Symbotic in a research note on Monday, January 13th. Raymond James downgraded Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. Needham & Company LLC decreased their price objective on Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, Oppenheimer initiated coverage on Symbotic in a research note on Wednesday, January 15th. They set an “outperform” rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $38.33.

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.