Symbotic (NASDAQ:SYM) Stock Price Down 2.2%

Shares of Symbotic Inc. (NASDAQ:SYM) traded down 2.2% during trading on Monday . The stock traded as low as $34.20 and last traded at $34.49. 341,367 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 1,356,164 shares. The stock had previously closed at $35.27.

Analyst Ratings Changes

SYM has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price objective on shares of Symbotic in a research report on Tuesday, May 7th. Craig Hallum upped their price objective on shares of Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Friday, May 10th. Finally, Northland Securities increased their price target on shares of Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.69.

Symbotic Price Performance

The stock has a market cap of $19.74 billion, a price-to-earnings ratio of -143.70 and a beta of 1.93. The stock’s 50-day moving average is $41.34 and its 200-day moving average is $44.39.

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

Insider Transactions at Symbotic

In other news, insider Michael David Dunn sold 5,444 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $43.29, for a total value of $235,670.76. Following the completion of the sale, the insider now owns 71,366 shares of the company’s stock, valued at $3,089,434.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Michael David Dunn sold 5,444 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $43.29, for a total transaction of $235,670.76. Following the transaction, the insider now directly owns 71,366 shares of the company’s stock, valued at approximately $3,089,434.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William M. Boyd III sold 8,825 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $40.34, for a total value of $356,000.50. Following the completion of the transaction, the insider now owns 23,012 shares of the company’s stock, valued at approximately $928,304.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,214 shares of company stock worth $6,030,760. 38.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SYM. Barclays PLC grew its holdings in Symbotic by 195.5% during the 3rd quarter. Barclays PLC now owns 8,008 shares of the company’s stock worth $268,000 after acquiring an additional 5,298 shares in the last quarter. Aigen Investment Management LP bought a new stake in Symbotic in the third quarter valued at about $545,000. LPL Financial LLC increased its holdings in Symbotic by 578.0% in the third quarter. LPL Financial LLC now owns 102,059 shares of the company’s stock valued at $3,412,000 after buying an additional 87,006 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Symbotic during the fourth quarter valued at approximately $1,669,000. Finally, Swiss National Bank lifted its holdings in Symbotic by 3.0% during the 3rd quarter. Swiss National Bank now owns 33,800 shares of the company’s stock worth $1,130,000 after buying an additional 1,000 shares during the last quarter.

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.