Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider William M. Boyd III sold 8,825 shares of the firm's stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $40.34, for a total value of $356,000.50. Following the transaction, the insider now owns 23,012 shares in the company, valued at $928,304.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Symbotic Stock Down 4.2 %
SYM opened at $38.57 on Wednesday. The stock has a market cap of $22.26 billion, a PE ratio of -142.85 and a beta of 1.91. The business has a 50 day moving average of $43.01 and a 200-day moving average of $44.28. Symbotic Inc. has a 52 week low of $22.40 and a 52 week high of $64.14.
Symbotic (NASDAQ:SYM - Get Free Report) last released its earnings results on Monday, February 5th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. The company had revenue of $368.45 million during the quarter, compared to analysts' expectations of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. Equities analysts anticipate that Symbotic Inc. will post -0.03 EPS for the current year.
Institutional Inflows and Outflows
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYM. 1832 Asset Management L.P. increased its position in Symbotic by 189.5% during the 4th quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company's stock valued at $54,174,000 after buying an additional 690,900 shares in the last quarter. Coatue Management LLC bought a new position in Symbotic during the 4th quarter valued at approximately $11,088,000. Hodges Capital Management Inc. bought a new position in Symbotic during the 3rd quarter valued at approximately $5,740,000. First Trust Advisors LP increased its position in Symbotic by 44.0% during the 4th quarter. First Trust Advisors LP now owns 510,237 shares of the company's stock valued at $26,190,000 after buying an additional 155,828 shares in the last quarter. Finally, First Dallas Securities Inc. bought a new position in Symbotic during the 3rd quarter valued at approximately $3,784,000.
Analysts Set New Price Targets
SYM has been the topic of several recent research reports. DA Davidson upgraded Symbotic from a "neutral" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Wednesday, February 7th. KeyCorp dropped their price objective on Symbotic from $63.00 to $55.00 and set an "overweight" rating for the company in a report on Tuesday, February 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 price objective on shares of Symbotic in a report on Tuesday, February 6th. Needham & Company LLC dropped their price objective on Symbotic from $58.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, February 6th. Finally, Northland Securities increased their price objective on Symbotic from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $54.00.
Get Our Latest Report on SYM
Symbotic Company Profile
(
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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.
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