Symbotic (NASDAQ:SYM) Shares Up 1.3%

Symbotic Inc. (NASDAQ:SYM) shares traded up 1.3% on Tuesday . The company traded as high as $36.50 and last traded at $35.95. 141,515 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,380,358 shares. The stock had previously closed at $35.48.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. William Blair restated a “market perform” rating on shares of Symbotic in a report on Friday, May 10th. Robert W. Baird upped their price target on Symbotic from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Craig Hallum upped their price target on Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Needham & Company LLC reiterated a “buy” rating and set a $54.00 target price on shares of Symbotic in a report on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Symbotic Stock Up 1.0 %

The firm has a fifty day moving average price of $39.46 and a 200-day moving average price of $43.01. The firm has a market cap of $20.95 billion, a price-to-earnings ratio of -149.79 and a beta of 1.87.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.25. Symbotic had a positive return on equity of 5.27% and a negative net margin of 1.27%. The business had revenue of $424.30 million for the quarter, compared to analysts’ expectations of $415.98 million. Equities research analysts anticipate that Symbotic Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Rollin L. Ford sold 49,998 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $37.29, for a total value of $1,864,425.42. Following the transaction, the director now directly owns 10,447 shares of the company’s stock, valued at approximately $389,568.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Symbotic news, insider Michael David Dunn sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $44.02, for a total value of $52,824.00. Following the transaction, the insider now directly owns 70,832 shares of the company’s stock, valued at $3,118,024.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rollin L. Ford sold 49,998 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $37.29, for a total value of $1,864,425.42. Following the completion of the transaction, the director now directly owns 10,447 shares in the company, valued at $389,568.63. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,770 shares of company stock valued at $5,795,090. 38.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp purchased a new stake in shares of Symbotic during the fourth quarter worth about $26,000. RiverPark Advisors LLC purchased a new stake in shares of Symbotic during the first quarter worth about $37,000. Global Retirement Partners LLC increased its position in shares of Symbotic by 166.7% during the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after acquiring an additional 660 shares during the last quarter. Pingora Partners LLC purchased a new stake in shares of Symbotic during the fourth quarter worth about $51,000. Finally, Centerpoint Advisors LLC purchased a new stake in shares of Symbotic during the fourth quarter worth about $62,000.

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.