Insider Selling: Symbotic Inc. (NASDAQ:SYM) CFO Sells 4,628 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) CFO Carol J. Hibbard sold 4,628 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $22.62, for a total transaction of $104,685.36. Following the transaction, the chief financial officer now owns 54,011 shares in the company, valued at approximately $1,221,728.82. The trade was a 7.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Symbotic Stock Up 0.0 %

SYM stock opened at $22.95 on Wednesday. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $48.98. The company has a market cap of $13.50 billion, a P/E ratio of -327.81, a PEG ratio of 6.48 and a beta of 1.85. The business has a fifty day moving average of $21.19 and a 200-day moving average of $25.83.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share 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%. As a group, equities research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Symbotic by 1,812.2% during the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company’s stock worth $29,000 after buying an additional 1,341 shares during the period. Ulland Investment Advisors LLC bought a new stake in shares of Symbotic during the 1st quarter worth about $31,000. IFP Advisors Inc raised its holdings in Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after acquiring an additional 503 shares during the period. Private Trust Co. NA acquired a new stake in Symbotic during the fourth quarter worth approximately $47,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Symbotic during the fourth quarter worth approximately $47,000.

Analysts Set New Price Targets

Several brokerages recently issued reports on SYM. Needham & Company LLC lowered their price target on Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. UBS Group cut their target price on Symbotic from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research note on Thursday, February 6th. Citigroup dropped their price objective on shares of Symbotic from $37.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Northland Securities lifted their target price on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Symbotic presently has an average rating of “Hold” and an average target price of $37.20.

About Symbotic

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.