Symbotic (NASDAQ:SYM) Trading Down 2.9%

Symbotic Inc. (NASDAQ:SYM) shares traded down 2.9% during trading on Monday . The company traded as low as $40.72 and last traded at $41.29. 329,029 shares were traded during trading, a decline of 77% from the average session volume of 1,458,375 shares. The stock had previously closed at $42.51.

Wall Street Analysts Forecast Growth

Several analysts have commented on SYM shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research report on Tuesday, February 6th. Needham & Company LLC reduced their price objective on shares of Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Northland Securities boosted their price objective on shares of Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. KeyCorp reduced their price objective on shares of Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Finally, The Goldman Sachs Group reduced their price objective on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Symbotic Stock Up 0.7 %

The business’s 50 day moving average price is $43.77 and its 200-day moving average price is $44.01.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. The company had revenue of $368.45 million during the quarter, compared to analysts’ expectations of $370.28 million. Sell-side analysts forecast that Symbotic Inc. will post -0.02 earnings per share for the current year.

Insider Transactions at Symbotic

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $42.20, for a total transaction of $84,400.00. Following the sale, the director now owns 10,447 shares of the company’s stock, valued at approximately $440,863.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $42.20, for a total transaction of $84,400.00. Following the sale, the director now directly owns 10,447 shares in the company, valued at approximately $440,863.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Merline Saintil sold 3,135 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $44.74, for a total transaction of $140,259.90. Following the sale, the director now owns 62,312 shares in the company, valued at $2,787,838.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,188,628 shares of company stock valued at $279,026,777. 38.30% of the stock is owned by insiders.

Institutional Trading of Symbotic

Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its holdings in shares of Symbotic by 23.2% in the second quarter. PNC Financial Services Group Inc. now owns 1,232 shares of the company’s stock valued at $53,000 after purchasing an additional 232 shares during the last quarter. Taylor Frigon Capital Management LLC raised its holdings in shares of Symbotic by 0.5% in the third quarter. Taylor Frigon Capital Management LLC now owns 63,576 shares of the company’s stock valued at $2,125,000 after purchasing an additional 336 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Symbotic by 3.0% in the third quarter. California State Teachers Retirement System now owns 13,641 shares of the company’s stock valued at $456,000 after purchasing an additional 399 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Symbotic by 66.7% in the third quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock valued at $35,000 after purchasing an additional 400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Symbotic by 8.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,875 shares of the company’s stock valued at $250,000 after purchasing an additional 400 shares during 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.