Symbotic (NASDAQ:SYM) Trading Down 0.8%

Shares of Symbotic Inc. (NASDAQ:SYM) traded down 0.8% during mid-day trading on Tuesday . The stock traded as low as $48.60 and last traded at $48.88. 241,104 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,596,603 shares. The stock had previously closed at $49.27.

Wall Street Analyst Weigh In

SYM has been the subject of several analyst reports. Needham & Company LLC dropped their price objective on Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price target on shares of Symbotic in a report on Tuesday, February 6th. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Wednesday, February 7th. Robert W. Baird reduced their target price on Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Finally, The Goldman Sachs Group lowered their price target on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.85.

Symbotic Stock Down 5.6 %

The firm has a market cap of $26.10 billion, a P/E ratio of -167.52 and a beta of 1.90. The business’s 50 day moving average is $43.76 and its two-hundred day moving average is $42.78.

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. The company had revenue of $368.45 million for the quarter, compared to the consensus estimate of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. Equities research analysts anticipate that Symbotic Inc. will post -0.02 EPS for the current year.

Insider Buying and Selling

In other news, insider Richard B. Cohen sold 5,000,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $38.32, for a total transaction of $191,600,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $50.49, for a total transaction of $100,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard B. Cohen sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,328,104 shares of company stock valued at $285,346,932 over the last ninety days. 38.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SYM. PNC Financial Services Group Inc. lifted its holdings in Symbotic by 23.2% during 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 boosted its holdings in Symbotic by 0.5% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 63,576 shares of the company’s stock worth $2,125,000 after buying an additional 336 shares during the period. California State Teachers Retirement System grew its stake in Symbotic by 3.0% in the 3rd quarter. California State Teachers Retirement System now owns 13,641 shares of the company’s stock valued at $456,000 after buying an additional 399 shares in the last quarter. National Bank of Canada FI raised its holdings in Symbotic by 66.7% during the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock valued at $35,000 after acquiring an additional 400 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Symbotic by 8.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,875 shares of the company’s stock worth $250,000 after purchasing an additional 400 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.