Symbotic (NASDAQ:SYM) Insider Maria Freve Sells 2,265 Shares

Symbotic Inc. (NASDAQ:SYM) insider Maria Freve sold 2,265 shares of Symbotic stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $57.72, for a total transaction of $130,735.80. Following the sale, the insider directly owned 739 shares in the company, valued at approximately $42,655.08. The trade was a 75.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Symbotic Stock Performance

SYM stock opened at $59.10 on Friday. The firm has a market cap of $35.59 billion, a PE ratio of -590.94, a PEG ratio of 5.75 and a beta of 2.10. The firm’s 50 day moving average price is $54.62 and its 200-day moving average price is $61.07. Symbotic Inc. has a one year low of $21.33 and a one year high of $87.88.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.06). The firm had revenue of $629.99 million for the quarter, compared to analysts’ expectations of $622.58 million. Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) EPS. Equities research analysts predict that Symbotic Inc. will post 0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a “sell” rating and set a $50.00 price target on shares of Symbotic in a research report on Thursday, January 15th. Citigroup reaffirmed an “outperform” rating on shares of Symbotic in a research report on Thursday, February 5th. Needham & Company LLC lifted their price target on shares of Symbotic from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Barclays lifted their price target on shares of Symbotic from $42.00 to $44.00 and gave the company an “underweight” rating in a research report on Monday, March 16th. Finally, DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and boosted their target price for the company from $57.00 to $70.00 in a research report on Wednesday, April 15th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $65.62.

Institutional Trading of Symbotic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Centerpoint Advisors LLC raised its position in Symbotic by 16.7% in the third quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock valued at $75,000 after purchasing an additional 200 shares during the period. Federation des caisses Desjardins du Quebec raised its position in Symbotic by 5.2% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,493 shares of the company’s stock valued at $267,000 after purchasing an additional 224 shares during the period. Barton Investment Management raised its position in Symbotic by 0.8% in the fourth quarter. Barton Investment Management now owns 30,658 shares of the company’s stock valued at $1,824,000 after purchasing an additional 233 shares during the period. The Manufacturers Life Insurance Company raised its position in Symbotic by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,375 shares of the company’s stock valued at $677,000 after purchasing an additional 236 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after acquiring an additional 249 shares in the last quarter.

Symbotic Company Profile

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.