Insider Selling: Symbotic Inc. (NASDAQ:SYM) Director Sells 1,000 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) Director Daniela L. Rus sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $30.00, for a total value of $30,000.00. Following the sale, the director now owns 27,435 shares in the company, valued at approximately $823,050. The trade was a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Symbotic Trading Down 1.3%

NASDAQ SYM opened at $28.56 on Friday. The business’s 50-day moving average price is $23.18 and its 200 day moving average price is $25.48. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $41.76. The company has a market capitalization of $16.84 billion, a PE ratio of -407.94, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. The business had revenue of $549.65 million for the quarter, compared to analysts’ expectations of $522.36 million. During the same quarter last year, the company posted ($0.07) earnings per share. The business’s quarterly revenue was up 39.7% compared to the same quarter last year. Equities analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on SYM shares. Needham & Company LLC decreased their target price on Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. The Goldman Sachs Group reduced their price objective on Symbotic from $25.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Raymond James downgraded Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. Citigroup reduced their price objective on Symbotic from $37.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, UBS Group reduced their price objective on Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.20.

Hedge Funds Weigh In On Symbotic

Large investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Symbotic by 15.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company’s stock worth $1,716,000 after acquiring an additional 11,098 shares during the last quarter. S Squared Technology LLC increased its stake in Symbotic by 6.7% during the first quarter. S Squared Technology LLC now owns 480,000 shares of the company’s stock worth $9,701,000 after acquiring an additional 30,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Symbotic by 16.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,343,902 shares of the company’s stock worth $27,155,000 after acquiring an additional 187,538 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Symbotic by 36.7% during the first quarter. Advisors Asset Management Inc. now owns 35,261 shares of the company’s stock worth $713,000 after acquiring an additional 9,459 shares during the last quarter. Finally, Amundi increased its stake in Symbotic by 53.0% during the first quarter. Amundi now owns 72,192 shares of the company’s stock worth $1,459,000 after acquiring an additional 24,993 shares during the last quarter.

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.