Symbotic (NASDAQ:SYM) Trading Down 0.9%

Shares of Symbotic Inc. (NASDAQ:SYM) dropped 0.9% during mid-day trading on Tuesday . The company traded as low as $39.51 and last traded at $40.25. Approximately 281,937 shares changed hands during trading, a decline of 81% from the average daily volume of 1,455,086 shares. The stock had previously closed at $40.61.

Analyst Ratings Changes

SYM has been the subject of a number of recent analyst reports. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a report on Wednesday, February 7th. William Blair restated a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Northland Securities upped their price objective on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group cut their price objective on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Symbotic Stock Up 2.6 %

The business’s 50 day simple moving average is $43.83 and its 200-day simple moving average is $44.00.

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 firm had revenue of $368.45 million for the quarter, compared to analysts’ expectations of $370.28 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. On average, equities research analysts predict that Symbotic Inc. will post -0.02 EPS for the current year.

Insider Transactions at Symbotic

In related news, insider Michael David Dunn sold 74,198 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $45.69, for a total transaction of $3,390,106.62. Following the sale, the insider now directly owns 62,624 shares in the company, valued at $2,861,290.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Symbotic news, insider Richard B. Cohen sold 5,000,000 shares of Symbotic stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael David Dunn sold 74,198 shares of Symbotic stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $45.69, for a total transaction of $3,390,106.62. Following the completion of the sale, the insider now owns 62,624 shares in the company, valued at $2,861,290.56. The disclosure for this sale can be found here. Insiders have sold a total of 7,188,628 shares of company stock valued at $279,026,777 over the last three months. 38.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Symbotic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp bought a new position in shares of Symbotic in the 4th quarter valued at about $26,000. Rockefeller Capital Management L.P. bought a new position in shares of Symbotic in the 4th quarter valued at about $29,000. Providence Capital Advisors LLC bought a new stake in shares of Symbotic during the 3rd quarter worth about $33,000. National Bank of Canada FI boosted its holdings in shares of Symbotic by 66.7% during the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock worth $35,000 after buying an additional 400 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Symbotic by 1,412.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,512 shares of the company’s stock worth $35,000 after buying an additional 1,412 shares during the period.

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.