Symbotic (NASDAQ:SYM) Shares Down 0.2%

Symbotic Inc. (NASDAQ:SYM)’s share price was down 0.2% during trading on Monday . The stock traded as low as $39.44 and last traded at $40.09. Approximately 267,121 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,395,408 shares. The stock had previously closed at $40.19.

Analysts Set New Price Targets

SYM has been the subject of a number of research analyst reports. Northland Securities raised their price objective on Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Needham & Company LLC decreased their price target on shares of Symbotic from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. William Blair reissued a “market perform” rating on shares of Symbotic in a research note on Tuesday, February 6th. KeyCorp decreased their price objective on Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. Finally, Robert W. Baird cut their target price on Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Symbotic has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Symbotic Stock Down 0.5 %

The company has a market capitalization of $23.08 billion, a PE ratio of -148.48 and a beta of 1.91. The business has a 50 day simple moving average of $43.13 and a 200 day simple moving average of $44.29.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping 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 business had revenue of $368.45 million during the quarter, compared to analysts’ expectations of $370.28 million. Equities analysts expect that Symbotic Inc. will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling at Symbotic

In related news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $51.50, for a total transaction of $103,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $51.50, for a total transaction of $103,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard B. Cohen sold 5,000,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $38.32, for a total transaction of $191,600,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,108,673 shares of company stock valued at $275,394,824. 38.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Symbotic

A number of large investors have recently added to or reduced their stakes in the stock. Taylor Frigon Capital Management LLC boosted its stake 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 worth $2,125,000 after acquiring an additional 336 shares during the last quarter. National Bank of Canada FI boosted its stake in Symbotic by 66.7% during the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock worth $35,000 after purchasing an additional 400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Symbotic by 8.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,875 shares of the company’s stock worth $250,000 after buying an additional 400 shares in the last quarter. Natixis Advisors L.P. raised its position in shares of Symbotic by 4.3% in the fourth quarter. Natixis Advisors L.P. now owns 10,983 shares of the company’s stock valued at $563,000 after buying an additional 456 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new position in shares of Symbotic in the fourth quarter worth about $26,000.

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.