Symbotic (NASDAQ:SYM) Shares Gap Down – Should You Sell?

Shares of Symbotic Inc. (NASDAQ:SYM) gapped down prior to trading on Tuesday . The stock had previously closed at $21.05, but opened at $20.01. Symbotic shares last traded at $20.21, with a volume of 411,045 shares changing hands.

Analyst Upgrades and Downgrades

SYM has been the topic of several analyst reports. Northland Securities increased their price target on Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 17th. DA Davidson upgraded Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Wednesday, January 8th. Craig Hallum lowered Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a report on Wednesday, November 27th. BWS Financial reiterated a “sell” rating and set a $10.00 price target on shares of Symbotic in a report on Tuesday, January 21st. Finally, Oppenheimer assumed coverage on shares of Symbotic in a research note on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Symbotic presently has an average rating of “Hold” and an average price target of $38.20.

Symbotic Stock Up 5.0 %

The business has a fifty day simple moving average of $27.01 and a two-hundred day simple moving average of $26.57. The company has a market capitalization of $13.00 billion, a price-to-earnings ratio of -322.54, a P/E/G ratio of 6.48 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. As a group, equities analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Activity at Symbotic

In other news, insider Michael David Dunn sold 5,365 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $24.60, for a total transaction of $131,979.00. Following the transaction, the insider now owns 31,860 shares of the company’s stock, valued at $783,756. This represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William M. Boyd III sold 2,660 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total value of $73,416.00. Following the transaction, the insider now directly owns 40,812 shares in the company, valued at $1,126,411.20. This trade represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,854 shares of company stock valued at $3,986,371 in the last three months. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Institutional investors have recently modified their holdings of the business. Alberta Investment Management Corp acquired a new stake in shares of Symbotic during the 4th quarter worth approximately $586,000. Geode Capital Management LLC raised its holdings in Symbotic by 10.2% in the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after purchasing an additional 46,721 shares during the period. Sanctuary Advisors LLC acquired a new position in Symbotic in the third quarter valued at about $1,029,000. Capital Market Strategies LLC acquired a new stake in Symbotic during the 4th quarter worth approximately $802,000. Finally, Baillie Gifford & Co. lifted its position in shares of Symbotic by 32.0% in the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after purchasing an additional 3,410,050 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.