Symbotic Inc. (NASDAQ:SYM) CFO Carol J. Hibbard Sells 4,628 Shares

Symbotic Inc. (NASDAQ:SYM) CFO Carol J. Hibbard sold 4,628 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $22.62, for a total transaction of $104,685.36. Following the completion of the sale, the chief financial officer now owns 54,011 shares of the company’s stock, valued at approximately $1,221,728.82. This trade represents a 7.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Symbotic Stock Performance

Shares of NASDAQ SYM opened at $22.95 on Wednesday. The business’s 50-day simple moving average is $21.19 and its 200-day simple moving average is $25.83. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $48.98. The firm has a market cap of $13.50 billion, a price-to-earnings ratio of -327.81, a P/E/G ratio of 6.48 and a beta of 1.85.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc boosted its holdings in 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 acquiring an additional 503 shares during the period. GAMMA Investing LLC boosted its stake in Symbotic by 1,812.2% during the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company’s stock valued at $29,000 after purchasing an additional 1,341 shares during the period. Ulland Investment Advisors LLC acquired a new stake in Symbotic in the 1st quarter valued at approximately $31,000. Pilgrim Partners Asia Pte Ltd bought a new position in Symbotic in the 4th quarter worth approximately $47,000. Finally, Private Trust Co. NA acquired a new position in shares of Symbotic during the fourth quarter worth approximately $47,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SYM. BWS Financial reaffirmed a “sell” rating and issued a $10.00 target price on shares of Symbotic in a research report on Wednesday, April 2nd. Needham & Company LLC lowered their target price on Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Wednesday, January 8th. Citigroup lowered their price objective on shares of Symbotic from $37.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Northland Securities lifted their target price on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Symbotic presently has a consensus rating of “Hold” and an average target price of $37.20.

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.