Key Points
- William Boyd III sold 2,455 shares on December 15 at an average price of $60.51 for about $148,552, reducing his stake to 24,314 shares — a 9.17% drop in ownership, disclosed in an SEC filing.
- Symbotic missed quarterly EPS expectations (reported -$0.03 vs. $0.08 expected) but topped revenue estimates ($618.46M vs. $604.0M), while showing a negative net margin and negative ROE; analysts expect FY EPS of about $0.13.
- Analyst coverage is mixed with an average rating of Hold and an average price target of $56.50, with individual targets ranging roughly from $35 to $83 and ratings split among buys, holds and sells.
Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider William Boyd III sold 2,455 shares of the firm's stock in a transaction on Monday, December 15th. The stock was sold at an average price of $60.51, for a total value of $148,552.05. Following the completion of the sale, the insider directly owned 24,314 shares of the company's stock, valued at $1,471,240.14. This represents a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Symbotic Price Performance
Shares of NASDAQ SYM traded up $4.20 during trading on Thursday, reaching $60.19. 542,034 shares of the stock traded hands, compared to its average volume of 2,191,478. The stock has a market capitalization of $35.60 billion, a P/E ratio of -399.14, a price-to-earnings-growth ratio of 17.78 and a beta of 2.10. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $87.88. The company has a 50-day moving average of $67.86 and a 200-day moving average of $54.44.
Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings results on Monday, November 24th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.11). The business had revenue of $618.46 million for the quarter, compared to analysts' expectations of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The business's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 earnings per share. Analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.
Analysts Set New Price Targets
SYM has been the subject of a number of analyst reports. Zacks Research raised Symbotic from a "strong sell" rating to a "hold" rating in a report on Wednesday, October 1st. Cantor Fitzgerald raised their target price on Symbotic from $60.00 to $82.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 25th. DA Davidson reaffirmed a "neutral" rating and set a $47.00 target price on shares of Symbotic in a report on Tuesday, November 25th. Oppenheimer reiterated an "outperform" rating and set a $83.00 price target on shares of Symbotic in a research report on Tuesday, November 25th. Finally, UBS Group restated a "sell" rating and issued a $35.00 price objective (up from $27.00) on shares of Symbotic in a research report on Tuesday, September 23rd. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Symbotic has an average rating of "Hold" and an average price target of $56.50.
Get Our Latest Stock Report on SYM
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of SYM. MAI Capital Management lifted its position in Symbotic by 833.3% during the third quarter. MAI Capital Management now owns 560 shares of the company's stock valued at $30,000 after purchasing an additional 500 shares during the last quarter. AdvisorNet Financial Inc purchased a new stake in shares of Symbotic during the 2nd quarter valued at $32,000. IAG Wealth Partners LLC bought a new stake in shares of Symbotic during the 2nd quarter worth $32,000. Ameriflex Group Inc. lifted its holdings in shares of Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company's stock worth $38,000 after acquiring an additional 660 shares during the last quarter. Finally, Gables Capital Management Inc. purchased a new position in Symbotic in the second quarter worth $39,000.
About Symbotic
(
Get Free Report)
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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