Symbotic (NASDAQ:SYM) Trading Down 2.2%

Symbotic Inc. (NASDAQ:SYM)’s stock price traded down 2.2% during mid-day trading on Tuesday . The company traded as low as $36.08 and last traded at $36.90. 300,514 shares traded hands during trading, a decline of 78% from the average session volume of 1,361,366 shares. The stock had previously closed at $37.72.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SYM. Northland Securities lifted their price objective on Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Robert W. Baird upped their price objective on shares of Symbotic from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Craig Hallum lifted their price objective on Symbotic from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $54.00 target price on shares of Symbotic in a research report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.69.

Symbotic Trading Down 4.0 %

The firm’s 50 day simple moving average is $41.92 and its 200 day simple moving average is $44.90. The firm has a market cap of $21.17 billion, a PE ratio of -153.74 and a beta of 1.93.

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

Insider Activity at Symbotic

In related news, insider William M. Boyd III sold 8,825 shares of Symbotic stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $40.34, for a total transaction of $356,000.50. Following the completion of the transaction, the insider now directly owns 23,012 shares of the company’s stock, valued at approximately $928,304.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider William M. Boyd III sold 8,825 shares of Symbotic stock in a transaction on Friday, April 26th. The stock was sold at an average price of $40.34, for a total transaction of $356,000.50. Following the completion of the sale, the insider now directly owns 23,012 shares in the company, valued at $928,304.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Merline Saintil sold 3,135 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $44.74, for a total transaction of $140,259.90. Following the completion of the transaction, the director now owns 62,312 shares in the company, valued at $2,787,838.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,351 shares of company stock worth $4,306,595. Company insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On Symbotic

Institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. bought a new stake in shares of Symbotic in the 1st quarter valued at about $426,752,000. 1832 Asset Management L.P. lifted its holdings in 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 buying an additional 690,900 shares during the period. Vanguard Group Inc. lifted its holdings in Symbotic by 16.6% during the first quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock worth $109,189,000 after buying an additional 345,386 shares during the period. Zevenbergen Capital Investments LLC boosted its position 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 acquiring an additional 342,417 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Symbotic in the 1st quarter worth $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.