Insider Selling: Symbotic Inc. (NASDAQ:SYM) CFO Sells $124,488.50 in Stock

Symbotic Inc. (NASDAQ:SYM) CFO Carol J. Hibbard sold 4,055 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total value of $124,488.50. Following the completion of the transaction, the chief financial officer now owns 44,386 shares in the company, valued at $1,362,650.20. This trade represents a 8.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Symbotic Stock Up 1.5 %

Shares of NASDAQ SYM opened at $26.37 on Friday. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $50.40. The business’s 50 day moving average is $27.15 and its two-hundred day moving average is $26.82.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating 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 research analysts expect that Symbotic Inc. will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Symbotic

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in Symbotic by 24.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 43,367 shares of the company’s stock valued at $1,525,000 after acquiring an additional 8,415 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Symbotic in the second quarter valued at $514,000. Millennium Management LLC lifted its position in Symbotic by 6,694.5% in the second quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock worth $11,801,000 after purchasing an additional 330,709 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Symbotic by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock worth $304,000 after buying an additional 679 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Symbotic by 76.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock valued at $21,317,000 after buying an additional 379,726 shares during the period.

Analyst Ratings Changes

Several equities research analysts recently commented on SYM shares. Craig Hallum cut Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research note on Wednesday, November 27th. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research note on Thursday. KeyCorp reaffirmed a “sector weight” rating on shares of Symbotic in a research note on Wednesday, November 27th. Oppenheimer initiated coverage on shares of Symbotic in a research report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, UBS Group reduced their price target on Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Symbotic presently has an average rating of “Hold” and an average target price 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.