William M. Boyd III Sells 2,660 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 2,660 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $27.60, for a total transaction of $73,416.00. Following the completion of the sale, the insider now directly owns 40,812 shares of the company’s stock, valued at $1,126,411.20. The trade was a 6.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Symbotic Price Performance

Shares of SYM stock opened at $24.47 on Friday. The firm has a fifty day moving average of $27.27 and a two-hundred day moving average of $26.44. Symbotic Inc. has a 1-year low of $17.11 and a 1-year high of $50.40.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. On average, research analysts forecast that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SYM shares. BWS Financial reaffirmed a “sell” rating and set a $10.00 price target on shares of Symbotic in a research report on Tuesday, January 21st. Oppenheimer started coverage on Symbotic in a research report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 target price for the company. KeyCorp reiterated a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. TD Cowen upped their price target on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Citigroup reiterated a “buy” rating and set a $37.00 price objective on shares of Symbotic in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Symbotic has a consensus rating of “Hold” and an average price target of $38.33.

Institutional Investors Weigh In On Symbotic

A number of institutional investors have recently made changes to their positions in the company. Walmart Inc. bought a new position in Symbotic during the fourth quarter worth $355,650,000. Baillie Gifford & Co. lifted its position in shares of Symbotic by 32.0% in the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after buying an additional 3,410,050 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Symbotic by 100.6% in the 4th quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company’s stock valued at $411,000 after buying an additional 3,110,075 shares during the period. Vanguard Group Inc. grew its position in shares of Symbotic by 41.3% during the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock valued at $117,846,000 after buying an additional 1,452,627 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Symbotic during the fourth quarter worth about $20,754,000.

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.