Symbotic (NASDAQ:SYM) Stock Price Down 1.4% – Time to Sell?

Symbotic Inc. (NASDAQ:SYM) traded down 1.4% on Thursday . The company traded as low as $66.83 and last traded at $67.06. 1,742,281 shares changed hands during trading, an increase of 1% from the average session volume of 1,720,381 shares. The stock had previously closed at $68.01.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Northland Securities increased their price objective on shares of Symbotic from $56.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Symbotic from $55.00 to $63.00 and gave the company a “hold” rating in a research note on Tuesday, November 25th. DA Davidson reiterated a “neutral” rating and set a $47.00 target price on shares of Symbotic in a report on Tuesday, November 25th. Barclays raised their price target on Symbotic from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Monday. Finally, Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $56.79.

Symbotic Stock Down 1.4%

The stock has a market cap of $39.67 billion, a price-to-earnings ratio of -447.07, a P/E/G ratio of 19.76 and a beta of 2.13. The company has a 50 day simple moving average of $64.57 and a 200 day simple moving average of $58.92.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, November 24th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Symbotic had a negative return on equity of 3.89% and a negative net margin of 0.75%.The business had revenue of $618.46 million for the quarter, compared to the consensus estimate of $604.00 million. During the same period in the previous year, the firm earned $0.47 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. As a group, analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Symbotic

In other Symbotic news, major shareholder Svf Sponsor Iii (De) Llc sold 3,500,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $53.21, for a total value of $186,235,000.00. Following the transaction, the insider owned 5,590,000 shares of the company’s stock, valued at approximately $297,443,900. The trade was a 38.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Group Corp. Softbank sold 3,500,000 shares of Symbotic stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $53.21, for a total transaction of $186,235,000.00. Following the completion of the sale, the insider directly owned 5,590,000 shares in the company, valued at $297,443,900. This trade represents a 38.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,066,463 shares of company stock worth $377,427,267 in the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Symbotic

Several hedge funds and other institutional investors have recently modified their holdings of SYM. Private Trust Co. NA grew its stake in Symbotic by 10.0% in the 2nd quarter. Private Trust Co. NA now owns 2,200 shares of the company’s stock worth $85,000 after buying an additional 200 shares in the last quarter. Centerpoint Advisors LLC boosted its stake in shares of Symbotic by 16.7% during the 3rd quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock valued at $75,000 after purchasing an additional 200 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Symbotic by 4.3% during the third quarter. PNC Financial Services Group Inc. now owns 6,627 shares of the company’s stock valued at $357,000 after purchasing an additional 273 shares in the last quarter. AlphaQuest LLC boosted its stake in Symbotic by 12.9% in the 3rd quarter. AlphaQuest LLC now owns 2,519 shares of the company’s stock worth $136,000 after purchasing an additional 287 shares in the last quarter. Finally, Bouvel Investment Partners LLC boosted its stake in Symbotic by 0.8% during the 3rd quarter. Bouvel Investment Partners LLC now owns 44,479 shares of the company’s stock valued at $2,397,000 after purchasing an additional 336 shares during the last quarter.

About Symbotic

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.