Symbotic (NASDAQ:SYM) Trading Up 2.2%

Symbotic Inc. (NASDAQ:SYM)’s share price rose 2.2% during trading on Thursday . The stock traded as high as $39.42 and last traded at $39.28. Approximately 159,265 shares were traded during trading, a decline of 88% from the average daily volume of 1,377,715 shares. The stock had previously closed at $38.42.

Analyst Ratings Changes

Several analysts have recently issued reports on SYM shares. Robert W. Baird decreased their price target on Symbotic from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. Needham & Company LLC cut their target price on shares of Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. KeyCorp dropped their price objective on Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 6th. William Blair restated a “market perform” rating on shares of Symbotic in a research note on Tuesday, February 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Symbotic presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Symbotic Price Performance

The stock has a 50 day moving average price of $42.97 and a two-hundred day moving average price of $44.24. The company has a market capitalization of $23.37 billion, a price-to-earnings ratio of -145.48 and a beta of 1.97.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, February 5th. The company reported ($0.02) earnings per share 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 company had revenue of $368.45 million during the quarter, compared to the consensus estimate of $370.28 million. Sell-side analysts forecast that Symbotic Inc. will post -0.03 EPS for the current fiscal year.

Insider Activity at Symbotic

In related news, insider William M. Boyd III sold 8,825 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $40.34, for a total transaction of $356,000.50. Following the completion of the sale, the insider now directly owns 23,012 shares of the company’s stock, valued at $928,304.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Symbotic 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider William M. Boyd III sold 8,825 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $40.34, for a total value of $356,000.50. Following the completion of the sale, the insider now directly owns 23,012 shares of the company’s stock, valued at $928,304.08. The disclosure for this sale can be found here. Insiders have sold a total of 7,110,447 shares of company stock worth $275,433,529 over the last 90 days. Insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYM. Van ECK Associates Corp bought a new stake in shares of Symbotic in the fourth quarter valued at about $26,000. Providence Capital Advisors LLC acquired a new position in Symbotic during the 3rd quarter worth approximately $33,000. Global Retirement Partners LLC grew its stake in shares of Symbotic by 166.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after acquiring an additional 660 shares in the last quarter. Pingora Partners LLC acquired a new stake in shares of Symbotic in the fourth quarter valued at approximately $51,000. Finally, Centerpoint Advisors LLC bought a new stake in shares of Symbotic in the fourth quarter worth $62,000.

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.