William M. Boyd III Sells 2,660 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 2,660 shares of the company’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $20.62, for a total value of $54,849.20. Following the completion of the sale, the insider now owns 36,999 shares of the company’s stock, valued at approximately $762,919.38. This trade represents a 6.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Symbotic Stock Performance

Shares of SYM stock opened at $20.41 on Friday. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $48.98. The company has a market capitalization of $12.01 billion, a price-to-earnings ratio of -291.53, a PEG ratio of 6.48 and a beta of 1.86. The stock’s 50 day simple moving average is $22.17 and its 200 day simple moving average is $26.22.

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

Hedge Funds Weigh In On Symbotic

Several large investors have recently bought and sold shares of SYM. IFP Advisors Inc raised its position in shares of Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after buying an additional 503 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Symbotic by 1.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company’s stock worth $1,154,000 after purchasing an additional 619 shares in the last quarter. National Bank of Canada FI increased its position in shares of Symbotic by 36.8% during the third quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock valued at $87,000 after purchasing an additional 957 shares during the period. Tower Research Capital LLC TRC lifted its position in Symbotic by 40.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company’s stock worth $85,000 after purchasing an additional 1,018 shares during the period. Finally, Bourne Lent Asset Management Inc. lifted its position in Symbotic by 1.3% in the first quarter. Bourne Lent Asset Management Inc. now owns 88,360 shares of the company’s stock worth $1,786,000 after purchasing an additional 1,150 shares during the period.

Wall Street Analysts Forecast Growth

SYM has been the topic of several recent research reports. BWS Financial reaffirmed a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a research note on Wednesday, April 2nd. UBS Group reduced their price objective on Symbotic from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Northland Securities upped their target price on Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Citigroup dropped their price target on Symbotic from $37.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Needham & Company LLC decreased their target price on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $37.20.

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.