Symbotic (NASDAQ:SYM) Trading Down 0.2%

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

Wall Street Analysts Forecast Growth

SYM has been the topic of a number of recent analyst reports. Northland Securities lifted their price target on Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a research note on Tuesday, February 6th. KeyCorp cut their price objective on shares of Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 6th. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Wednesday, February 7th. Finally, The Goldman Sachs Group lowered their target price on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating on the stock 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, Symbotic currently has an average rating of “Moderate Buy” and an average target price of $54.00.

Symbotic Trading Down 0.5 %

The business has a fifty day moving average price of $43.13 and a two-hundred day moving average price of $44.29. The company has a market cap of $23.08 billion, a price-to-earnings ratio of -148.48 and a beta of 1.91.

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

Insider Transactions at Symbotic

In related news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $51.50, for a total value of $103,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the 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 filing with the SEC, which is available through this hyperlink. Also, insider Richard B. Cohen sold 5,000,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was 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 sold 7,108,673 shares of company stock valued at $275,394,824 in the last three months. Corporate insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On Symbotic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYM. 1832 Asset Management L.P. increased its position in Symbotic by 189.5% in the 4th quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock worth $54,174,000 after buying an additional 690,900 shares during the period. Coatue Management LLC acquired a new position in Symbotic during the 4th quarter valued at $11,088,000. Hodges Capital Management Inc. bought a new stake in Symbotic in the 3rd quarter valued at $5,740,000. First Trust Advisors LP grew its position in Symbotic by 44.0% in the 4th quarter. First Trust Advisors LP now owns 510,237 shares of the company’s stock worth $26,190,000 after purchasing an additional 155,828 shares during the last quarter. Finally, First Dallas Securities Inc. bought a new position in shares of Symbotic during the 3rd quarter worth about $3,784,000.

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.