Symbotic Inc. (NASDAQ:SYM) Insider Maria G. Freve Sells 478 Shares of Stock

Symbotic Inc. (NASDAQ:SYM) insider Maria G. Freve sold 478 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $54.73, for a total transaction of $26,160.94. Following the completion of the transaction, the insider owned 3,312 shares of the company’s stock, valued at approximately $181,265.76. This trade represents a 12.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Symbotic Price Performance

NASDAQ SYM opened at $52.99 on Friday. The stock has a market capitalization of $31.24 billion, a P/E ratio of -1,324.75, a P/E/G ratio of 55.65 and a beta of 2.03. The business has a 50 day simple moving average of $37.82 and a 200 day simple moving average of $28.90. Symbotic Inc. has a one year low of $16.32 and a one year high of $55.44.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). The company had revenue of $549.65 million for the quarter, compared to analyst estimates of $522.36 million. Symbotic had a negative return on equity of 1.26% and a negative net margin of 0.23%. The business’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same period last year, the business earned ($0.07) EPS. Equities analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Symbotic

A number of large investors have recently bought and sold shares of SYM. Farther Finance Advisors LLC grew its stake in Symbotic by 24.0% in the second quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company’s stock valued at $69,000 after acquiring an additional 342 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Symbotic by 1.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company’s stock worth $1,154,000 after purchasing an additional 619 shares in the last quarter. Swiss National Bank grew its position in Symbotic by 0.9% in the 1st quarter. Swiss National Bank now owns 82,400 shares of the company’s stock valued at $1,665,000 after purchasing an additional 700 shares during the period. Ulland Investment Advisors LLC increased its stake in Symbotic by 45.9% during the 2nd quarter. Ulland Investment Advisors LLC now owns 2,225 shares of the company’s stock valued at $86,000 after purchasing an additional 700 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Symbotic by 4.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,208 shares of the company’s stock valued at $348,000 after purchasing an additional 757 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Oppenheimer reissued an “outperform” rating and set a $54.00 target price (up from $35.00) on shares of Symbotic in a report on Wednesday, July 16th. The Goldman Sachs Group reduced their price objective on shares of Symbotic from $25.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Deutsche Bank Aktiengesellschaft lowered Symbotic from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research report on Friday, July 18th. Northland Securities lifted their target price on Symbotic from $35.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Finally, Citigroup reissued a “buy” rating on shares of Symbotic in a research note on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Symbotic has an average rating of “Hold” and an average target price of $39.94.

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.