Symbotic Inc. (NASDAQ:SYM - Get Free Report) insider Maria Freve sold 2,265 shares of the business's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $57.72, for a total transaction of $130,735.80. Following the completion of the transaction, the insider owned 739 shares of the company's stock, valued at approximately $42,655.08. This trade represents a 75.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Symbotic Stock Up 3.1%
NASDAQ:SYM opened at $59.10 on Friday. The company has a fifty day simple moving average of $54.62 and a two-hundred day simple moving average of $61.07. The company has a market cap of $35.59 billion, a price-to-earnings ratio of -590.94, a price-to-earnings-growth ratio of 5.75 and a beta of 2.10. Symbotic Inc. has a 52 week low of $21.33 and a 52 week high of $87.88.
Symbotic (NASDAQ:SYM - Get Free Report) last posted 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 business had revenue of $629.99 million during the quarter, compared to analyst estimates of $622.58 million. Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The business's revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) EPS. On average, analysts expect that Symbotic Inc. will post 0.33 EPS for the current year.
Hedge Funds Weigh In On Symbotic
Several hedge funds and other institutional investors have recently made changes to their positions in SYM. MAI Capital Management lifted its holdings in shares of 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. Parkside Financial Bank & Trust lifted its holdings 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 buying an additional 268 shares in the last quarter. Quarry LP acquired a new position in Symbotic in the 4th quarter worth $36,000. Parallel Advisors LLC increased its position in shares of Symbotic by 67.3% in the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company's stock worth $37,000 after purchasing an additional 249 shares during the last quarter. Finally, Ameriflex Group Inc. increased its position in shares of Symbotic by 1,500.0% in the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company's stock worth $38,000 after purchasing an additional 660 shares during the last quarter.
Analysts Set New Price Targets
Several research firms recently issued reports on SYM. Northland Securities set a $73.00 price target on shares of Symbotic in a report on Thursday, February 5th. Needham & Company LLC increased their target price on shares of Symbotic from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, February 5th. Citigroup reiterated an "outperform" rating on shares of Symbotic in a research report on Thursday, February 5th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Symbotic in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group restated a "sell" rating and set a $50.00 target price on shares of Symbotic in a research report on Thursday, January 15th. Seven 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $65.62.
Check Out Our Latest Stock Analysis on SYM
Symbotic Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
