Rollin L. Ford Sells 28,740 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) Director Rollin L. Ford sold 28,740 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.02, for a total transaction of $747,814.80. Following the completion of the sale, the director now directly owns 10,447 shares of the company’s stock, valued at $271,830.94. The trade was a 73.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Symbotic Price Performance

Shares of SYM stock opened at $23.45 on Wednesday. The firm’s 50-day simple moving average is $27.17 and its 200-day simple moving average is $26.52. Symbotic Inc. has a 1-year low of $17.11 and a 1-year high of $50.40. The firm has a market cap of $13.80 billion, a P/E ratio of -334.95, a PEG ratio of 6.48 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. Analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Alberta Investment Management Corp acquired a new stake in Symbotic during the fourth quarter worth about $586,000. Geode Capital Management LLC grew its holdings in shares of Symbotic by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after purchasing an additional 46,721 shares during the period. Sanctuary Advisors LLC acquired a new stake in Symbotic during the 3rd quarter worth approximately $1,029,000. Capital Market Strategies LLC purchased a new position in Symbotic in the fourth quarter valued at approximately $802,000. Finally, Baillie Gifford & Co. lifted its position in Symbotic by 32.0% during the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after buying an additional 3,410,050 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Raymond James lowered Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a report on Wednesday, January 8th. UBS Group cut their price target on Symbotic from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday. Needham & Company LLC dropped their target price on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, Northland Securities upped their price target on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Symbotic has a consensus rating of “Hold” and a consensus price target of $38.20.

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.