Symbotic (NASDAQ:SYM) Trading Up 1% – Should You Buy?

Symbotic Inc. (NASDAQ:SYM)’s share price shot up 1% on Monday . The company traded as high as $54.69 and last traded at $54.35. 1,305,165 shares were traded during trading, a decline of 38% from the average session volume of 2,106,324 shares. The stock had previously closed at $53.79.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. DA Davidson lifted their price objective on shares of Symbotic from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. TD Cowen reiterated a “buy” rating on shares of Symbotic in a research note on Wednesday, December 3rd. Cantor Fitzgerald upped their price objective on shares of Symbotic from $60.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Barclays upped their price target on shares of Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Monday, January 12th. Finally, Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $60.57.

Symbotic Trading Up 1.0%

The stock has a market capitalization of $32.73 billion, a price-to-earnings ratio of -543.45, a PEG ratio of 5.39 and a beta of 2.13. The stock has a 50-day moving average price of $60.56 and a 200 day moving average price of $60.52.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The company had revenue of $629.99 million for the quarter, compared to analyst estimates of $622.58 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The business’s revenue was up 29.4% on a year-over-year basis. Equities research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current year.

Insider Buying and Selling at Symbotic

In related news, insider William M. Boyd III sold 15,000 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rollin L. Ford sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $57.51, for a total transaction of $3,450,600.00. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 7,204,212 shares of company stock worth $385,123,962. Corporate insiders own 8.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SYM. Royal Bank of Canada increased its stake in Symbotic by 28.8% in the first quarter. Royal Bank of Canada now owns 84,856 shares of the company’s stock valued at $1,714,000 after purchasing an additional 18,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Symbotic by 15.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company’s stock worth $1,716,000 after acquiring an additional 11,098 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in Symbotic in the second quarter valued at $205,000. Y Intercept Hong Kong Ltd acquired a new position in Symbotic in the second quarter valued at $5,504,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Symbotic during the second quarter worth about $284,000.

Symbotic Company Profile

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.