Symbotic (NASDAQ:SYM) Insider William Boyd III Sells 9,194 Shares of Company Stock

Symbotic Inc. (NASDAQ:SYM) insider William Boyd III sold 9,194 shares of the business’s stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $38.83, for a total transaction of $357,003.02. Following the transaction, the insider owned 57,112 shares in the company, valued at $2,217,658.96. The trade was a 13.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Symbotic Price Performance

Shares of NASDAQ SYM opened at $38.98 on Wednesday. The company’s fifty day simple moving average is $41.51 and its 200 day simple moving average is $48.69. Symbotic Inc. has a 12-month low of $36.47 and a 12-month high of $87.88.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $720.84 million for the quarter, compared to analysts’ expectations of $715.03 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The company’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, sell-side analysts forecast that Symbotic Inc. will post 0.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Robert W. Baird set a $51.00 price target on Symbotic in a research note on Thursday, August 6th. Needham & Company LLC cut their price target on Symbotic from C$75.00 to C$60.00 and set a “buy” rating on the stock in a report on Tuesday, September 15th. Barclays reduced their price objective on Symbotic from $44.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, September 8th. Finally, Weiss Ratings upgraded Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, September 21st. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Symbotic presently has an average rating of “Hold” and a consensus target price of $65.83.

Institutional Investors Weigh In On Symbotic

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYM. GK Wealth Management LLC purchased a new position in shares of Symbotic in the 3rd quarter worth approximately $26,000. Toth Financial Advisory Corp increased its position in shares of Symbotic by 88.7% during the third quarter. Toth Financial Advisory Corp now owns 632 shares of the company’s stock valued at $27,000 after acquiring an additional 297 shares during the last quarter. IAG Wealth Partners LLC increased its position in shares of Symbotic by 29.4% during the first quarter. IAG Wealth Partners LLC now owns 1,752 shares of the company’s stock valued at $93,000 after acquiring an additional 398 shares during the last quarter. Nykredit A S purchased a new stake in shares of Symbotic during the second quarter valued at approximately $89,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its holdings in Symbotic by 115.3% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 1,996 shares of the company’s stock worth $106,000 after acquiring an additional 1,069 shares during the period.

Symbotic Company Profile

Symbotic Inc is an automation technology company that develops artificial intelligence-enabled robotics and software for supply chain and warehouse operations. Its systems are designed to automate the movement, storage, retrieval and replenishment of pallets and cases within large distribution centers, helping customers manage inventory and fulfill orders more efficiently.

The company’s platform combines mobile robots, automated storage and retrieval systems, robotic palletizing and depalletizing equipment, and warehouse-control software.