Symbotic Inc. (NASDAQ:SYM) Director Daniela L. Rus Sells 1,000 Shares

Symbotic Inc. (NASDAQ:SYM) Director Daniela L. Rus sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 27,435 shares of the company’s stock, valued at approximately $823,050. The trade was a 3.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Symbotic Stock Performance

Shares of NASDAQ SYM opened at $28.94 on Friday. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $41.87. The stock’s 50-day simple moving average is $23.07 and its 200-day simple moving average is $25.56. The firm has a market cap of $17.06 billion, a price-to-earnings ratio of -413.37, a PEG ratio of 6.48 and a beta of 1.85.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Walmart Inc. bought a new stake in Symbotic during the fourth quarter worth approximately $355,650,000. JPMorgan Chase & Co. boosted its holdings in shares of Symbotic by 100.6% during the fourth quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company’s stock worth $411,000 after purchasing an additional 3,110,075 shares during the period. Vanguard Group Inc. grew its holdings 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 acquiring an additional 1,452,627 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Symbotic in the fourth quarter valued at about $20,754,000. Finally, Canada Pension Plan Investment Board acquired a new position in Symbotic in the first quarter worth approximately $4,968,000.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SYM shares. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research report on Thursday, February 6th. UBS Group lowered their price target on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Needham & Company LLC lowered their price objective on Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Citigroup lowered their target price 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, Raymond James cut Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.