Symbotic (NASDAQ:SYM) Shares Up 0.7%

Symbotic Inc. (NASDAQ:SYM)’s stock price was up 0.7% on Wednesday . The stock traded as high as $41.14 and last traded at $40.53. Approximately 220,932 shares changed hands during trading, a decline of 84% from the average daily volume of 1,415,316 shares. The stock had previously closed at $40.25.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a report on Tuesday, February 6th. DA Davidson raised 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 reissued a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. 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. Finally, Robert W. Baird lowered their target price on shares of Symbotic from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Symbotic Stock Up 0.5 %

The firm has a market cap of $23.34 billion, a P/E ratio of -149.22 and a beta of 1.91. The company has a 50 day moving average of $43.42 and a two-hundred day moving average of $44.27.

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, topping the consensus estimate of ($0.05) by $0.03. The firm had revenue of $368.45 million during the quarter, compared to the consensus estimate of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. Research analysts expect that Symbotic Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which is available through this hyperlink. In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael David Dunn sold 7,051 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $45.00, for a total value of $317,295.00. Following the completion of the sale, the insider now owns 65,646 shares of the company’s stock, valued at approximately $2,954,070. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,106,926 shares of company stock valued at $275,324,804. Corporate insiders own 38.30% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Several hedge funds and other institutional investors have recently made changes to their positions in SYM. Vanguard Group Inc. grew its stake in shares of Symbotic by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 2,081,034 shares of the company’s stock worth $106,819,000 after purchasing an additional 40,699 shares during the period. 1832 Asset Management L.P. grew its stake in shares of Symbotic by 189.5% during the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock worth $54,174,000 after purchasing an additional 690,900 shares during the period. Raymond James & Associates lifted its holdings in Symbotic by 6.3% during the first quarter. Raymond James & Associates now owns 616,391 shares of the company’s stock worth $27,738,000 after acquiring an additional 36,515 shares in the last quarter. First Trust Advisors LP lifted its holdings in Symbotic by 44.0% during the fourth quarter. First Trust Advisors LP now owns 510,237 shares of the company’s stock worth $26,190,000 after acquiring an additional 155,828 shares in the last quarter. Finally, S Squared Technology LLC lifted its holdings in Symbotic by 3.8% during the fourth quarter. S Squared Technology LLC now owns 270,000 shares of the company’s stock worth $13,859,000 after acquiring an additional 10,000 shares in the last quarter.

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.