Symbotic (NASDAQ:SYM) Trading 0.5% Higher

Symbotic Inc. (NASDAQ:SYM) traded up 0.5% during mid-day trading on Friday . The stock traded as high as $36.38 and last traded at $35.37. 362,831 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 1,384,275 shares. The stock had previously closed at $35.20.

Analyst Upgrades and Downgrades

SYM has been the subject of several research analyst reports. Craig Hallum raised their price objective on shares of Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Robert W. Baird lifted their target price on shares of Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. William Blair reiterated a “market perform” rating on shares of Symbotic in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, Northland Securities lifted their target price on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.69.

Symbotic Trading Down 1.3 %

The business’s 50 day moving average is $39.63 and its two-hundred day moving average is $43.31. The company has a market cap of $20.32 billion, a PE ratio of -147.37 and a beta of 1.92.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, May 6th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.25. Symbotic had a negative net margin of 1.27% and a positive return on equity of 5.27%. The company had revenue of $424.30 million for the quarter, compared to analysts’ expectations of $415.98 million. As a group, equities research analysts predict that Symbotic Inc. will post -0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Symbotic news, major shareholder David A. Ladensohn sold 50,000 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $40.89, for a total value of $2,044,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Symbotic news, major shareholder David A. Ladensohn sold 50,000 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $40.89, for a total value of $2,044,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Rollin L. Ford sold 49,998 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $37.29, for a total transaction of $1,864,425.42. Following the completion of the sale, the director now owns 10,447 shares in the company, valued at approximately $389,568.63. The disclosure for this sale can be found here. Insiders have sold a total of 150,214 shares of company stock worth $6,030,760 in the last 90 days. 38.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Symbotic

Several hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. bought a new position in Symbotic during the 1st quarter valued at about $426,752,000. 1832 Asset Management L.P. grew its holdings in Symbotic by 189.5% during the 4th quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock valued at $54,174,000 after purchasing an additional 690,900 shares during the last quarter. Vanguard Group Inc. grew its holdings in Symbotic by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after purchasing an additional 345,386 shares during the last quarter. Zevenbergen Capital Investments LLC grew its holdings in Symbotic by 1,826.2% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 361,167 shares of the company’s stock valued at $16,253,000 after purchasing an additional 342,417 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in Symbotic during the 1st quarter valued at about $12,219,000.

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.