Merline Saintil Sells 3,414 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) Director Merline Saintil sold 3,414 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $50.82, for a total transaction of $173,499.48. Following the sale, the director directly owned 75,344 shares of the company’s stock, valued at approximately $3,828,982.08. This represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Symbotic Stock Performance

Symbotic stock opened at $49.43 on Friday. The firm has a market cap of $29.77 billion, a price-to-earnings ratio of -494.25, a price-to-earnings-growth ratio of 4.96 and a beta of 2.13. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $87.88. The firm’s 50 day moving average price is $58.68 and its two-hundred day moving average price is $60.76.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). The company had revenue of $629.99 million for the quarter, compared to analyst estimates of $622.58 million. Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. Symbotic’s revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.03) EPS. As a group, equities analysts predict that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Northland Securities set a $73.00 target price on Symbotic in a report on Thursday, February 5th. Citigroup restated an “outperform” rating on shares of Symbotic in a report on Thursday, February 5th. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Northcoast Research cut shares of Symbotic from a “buy” rating to a “neutral” rating in a report on Tuesday, November 25th. Finally, Needham & Company LLC lifted their target price on shares of Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Symbotic currently has a consensus rating of “Hold” and a consensus target price of $60.57.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Parkside Financial Bank & Trust lifted its stake in Symbotic by 100.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after acquiring an additional 268 shares in the last quarter. MAI Capital Management grew its stake in Symbotic by 833.3% during the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares in the last quarter. Quarry LP acquired a new position in shares of Symbotic in the 4th quarter valued at about $36,000. Parallel Advisors LLC increased its holdings in shares of Symbotic by 67.3% in the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after purchasing an additional 249 shares during the period. Finally, Ameriflex Group Inc. lifted its position in shares of Symbotic by 1,500.0% in the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after purchasing an additional 660 shares in the last quarter.

About Symbotic

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.