William M. Boyd III Sells 2,455 Shares of Symbotic Inc. (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) insider William M. Boyd III sold 2,455 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $22.31, for a total transaction of $54,771.05. Following the completion of the sale, the insider now directly owns 39,659 shares of the company’s stock, valued at approximately $884,792.29. The trade was a 5.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Symbotic Price Performance

NASDAQ SYM opened at $21.65 on Friday. The firm’s 50-day moving average is $26.14 and its two-hundred day moving average is $26.46. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $50.41. The stock has a market capitalization of $12.74 billion, a P/E ratio of -309.24, a PEG ratio of 6.48 and a beta of 1.85.

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

Analyst Upgrades and Downgrades

SYM has been the subject of a number of research reports. 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. Oppenheimer initiated coverage on shares of Symbotic in a report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 target price for the company. Northland Securities upped their target price on shares of Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. KeyCorp reaffirmed a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. Finally, William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $38.20.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Walmart Inc. acquired a new stake in shares of Symbotic during the fourth quarter worth about $355,650,000. JPMorgan Chase & Co. lifted its position 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 in the last quarter. Vanguard Group Inc. lifted its position in shares of Symbotic by 41.3% during the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock worth $117,846,000 after purchasing an additional 1,452,627 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Symbotic during the fourth quarter worth about $20,754,000. Finally, Thematics Asset Management lifted its position in shares of Symbotic by 30.1% during the third quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock worth $25,565,000 after purchasing an additional 242,661 shares in the last quarter.

Symbotic Company Profile

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.