Symbotic (NASDAQ:SYM) Shares Gap Down After Insider Selling

Symbotic Inc. (NASDAQ:SYM)’s stock price gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $30.92, but opened at $25.88. Symbotic shares last traded at $27.10, with a volume of 1,441,955 shares trading hands.

Specifically, CFO Carol J. Hibbard sold 4,055 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total transaction of $124,488.50. Following the completion of the sale, the chief financial officer now owns 44,386 shares of the company’s stock, valued at $1,362,650.20. This trade represents a 8.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael David Dunn sold 1,971 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $30.00, for a total transaction of $59,130.00. Following the transaction, the insider now owns 22,301 shares in the company, valued at $669,030. The trade was a 8.12 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

SYM has been the topic of a number of analyst reports. Raymond James lowered shares of Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, January 8th. Citigroup reaffirmed a “buy” rating and set a $37.00 target price on shares of Symbotic in a research report on Monday, January 13th. UBS Group lowered their price target on Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Finally, TD Cowen lifted their price objective on shares of Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Symbotic presently has an average rating of “Hold” and a consensus price target of $38.33.

Symbotic Stock Down 15.9 %

The company has a market capitalization of $15.27 billion, a P/E ratio of -433.17, a price-to-earnings-growth ratio of 7.29 and a beta of 1.79. The business’s 50-day moving average price is $27.11 and its 200 day moving average price is $26.82.

Symbotic (NASDAQ:SYM) last issued its earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. Analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Symbotic

Several institutional investors and hedge funds have recently bought and sold shares of the business. IFP Advisors Inc increased its position in shares of Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after buying an additional 503 shares during the period. Castleview Partners LLC boosted its position in Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Symbotic during the 3rd quarter worth approximately $49,000. Private Trust Co. NA bought a new position in shares of Symbotic in the 4th quarter worth approximately $47,000. Finally, RiverPark Advisors LLC lifted its stake in shares of Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after purchasing an additional 1,211 shares during the period.

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.