Symbotic Inc. (NASDAQ:SYM) Director Merline Saintil Sells 5,250 Shares

Symbotic Inc. (NASDAQ:SYM) Director Merline Saintil sold 5,250 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $28.70, for a total transaction of $150,675.00. Following the completion of the sale, the director now owns 74,562 shares of the company’s stock, valued at approximately $2,139,929.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Symbotic Stock Down 4.1 %

Shares of NASDAQ SYM opened at $27.42 on Friday. The firm’s fifty day moving average is $23.82 and its 200 day moving average is $32.29. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $59.82. The company has a market cap of $16.06 billion, a price-to-earnings ratio of -144.32 and a beta of 1.84.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The business had revenue of $491.86 million during the quarter, compared to the consensus estimate of $464.56 million. Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. Symbotic’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Equities research analysts anticipate that Symbotic Inc. will post -0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SYM shares. Northland Securities decreased their target price on Symbotic from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Vertical Research began coverage on Symbotic in a research report on Tuesday, July 23rd. They set a “hold” rating and a $45.00 price target for the company. Robert W. Baird reduced their price objective on Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Citigroup dropped their target price on Symbotic from $62.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Symbotic presently has an average rating of “Moderate Buy” and a consensus price target of $43.23.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. increased its position in shares of Symbotic by 12.4% during the second quarter. Baillie Gifford & Co. now owns 10,660,949 shares of the company’s stock valued at $374,839,000 after buying an additional 1,177,578 shares during the period. Vanguard Group Inc. grew its stake in shares of Symbotic by 16.6% in the first quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock worth $109,189,000 after acquiring an additional 345,386 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Symbotic by 76.8% during the third quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock valued at $21,317,000 after acquiring an additional 379,726 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Symbotic by 191.5% during the second quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after acquiring an additional 509,700 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of Symbotic by 8.4% in the 2nd quarter. Raymond James & Associates now owns 668,103 shares of the company’s stock worth $23,491,000 after purchasing an additional 51,712 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.