Insider Selling: Symbotic (NASDAQ:SYM) Insider Sells $230,942.25 in Stock

Symbotic Inc. (NASDAQ:SYM) insider William Boyd III sold 5,115 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.15, for a total transaction of $230,942.25. Following the sale, the insider owned 57,112 shares of the company’s stock, valued at approximately $2,578,606.80. The trade was a 8.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Symbotic Trading Up 0.9%

NASDAQ:SYM opened at $41.69 on Thursday. Symbotic Inc. has a 12 month low of $38.19 and a 12 month high of $87.88. The firm’s 50 day moving average is $47.12 and its 200 day moving average is $53.92. The stock has a market capitalization of $25.13 billion, a PE ratio of -833.63, a price-to-earnings-growth ratio of 6.09 and a beta of 1.93.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). The firm had revenue of $676.48 million during the quarter, compared to analysts’ expectations of $662.65 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The business’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.04) earnings per share. Research analysts predict that Symbotic Inc. will post 0.23 earnings per share for the current year.

Institutional Trading of Symbotic

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Symbotic by 47.6% in the fourth quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock worth $412,463,000 after buying an additional 2,237,137 shares in the last quarter. Handelsbanken Fonder AB grew its position in Symbotic by 54.3% during the fourth quarter. Handelsbanken Fonder AB now owns 423,020 shares of the company’s stock worth $25,170,000 after buying an additional 148,842 shares in the last quarter. M&T Bank Corp grew its position in Symbotic by 1,108.8% during the fourth quarter. M&T Bank Corp now owns 330,882 shares of the company’s stock worth $19,687,000 after buying an additional 303,510 shares in the last quarter. Wealthfront Advisers LLC bought a new position in Symbotic in the 4th quarter worth about $1,581,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Symbotic by 23.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 726,411 shares of the company’s stock valued at $47,122,000 after acquiring an additional 136,111 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have weighed in on SYM. DA Davidson reiterated a “buy” rating and set a $70.00 target price on shares of Symbotic in a research report on Monday, May 11th. Weiss Ratings cut shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. The Goldman Sachs Group cut their price objective on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a report on Tuesday, May 26th. Finally, Barclays boosted their target price on shares of Symbotic from $42.00 to $44.00 and gave the company an “underweight” rating in a report on Monday, March 16th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Symbotic presently has an average rating of “Hold” and an average target price of $65.23.

Key Stories Impacting Symbotic

Here are the key news stories impacting Symbotic this week:

• Positive Sentiment: Analysts and recent commentary continue to argue that Symbotic could be undervalued relative to its warehouse automation growth narrative, with some articles saying the stock still looks cheap after a long run. Symbotic (SYM) Stock Still Looks Cheap Following Its 315% Run
• Neutral Sentiment: Research notes highlight mixed views on the stock, including a Hold-style rating from Zacks and a broader analyst consensus that remains around Hold despite several buy ratings. Symbotic (SYM) Could Be 32% Undervalued On Its Warehouse Automation Narrative
• Negative Sentiment: Recent insider sales from multiple directors may be read as a lack of near-term confidence, adding to pressure on the shares. Symbotic (NASDAQ:SYM) Director Sells 2,000 Shares

About Symbotic

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.