Symbotic (NASDAQ:SYM) Trading Down 1% – Should You Sell?

Symbotic Inc. (NASDAQ:SYM) shares traded down 1% during trading on Monday . The stock traded as low as $51.88 and last traded at $54.21. 1,110,171 shares changed hands during trading, a decline of 45% from the average session volume of 2,003,790 shares. The stock had previously closed at $54.78.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SYM. Citigroup reiterated an “outperform” rating on shares of Symbotic in a report on Thursday, February 5th. Northland Securities set a $73.00 price objective on Symbotic in a research report on Thursday, February 5th. DA Davidson lifted their price objective on Symbotic from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Robert W. Baird upped their target price on Symbotic from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Finally, UBS Group set a $70.00 price target on shares of Symbotic in a research note on Wednesday, February 18th. Six equities research 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’s stock. According to MarketBeat.com, Symbotic has an average rating of “Hold” and an average price target of $60.57.

Symbotic Price Performance

The company has a 50 day moving average of $60.03 and a 200 day moving average of $60.57.

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

Insider Buying and Selling at Symbotic

In related news, CTO James Kuffner sold 3,669 shares of Symbotic stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $56.84, for a total value of $208,545.96. Following the completion of the transaction, the chief technology officer directly owned 151,061 shares of the company’s stock, valued at $8,586,307.24. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Maria G. Freve sold 8,306 shares of the stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $55.11, for a total transaction of $457,743.66. Following the sale, the insider directly owned 539 shares in the company, valued at approximately $29,704.29. This represents a 93.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 7,186,533 shares of company stock worth $383,607,335 over the last 90 days. Company insiders own 8.16% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Symbotic by 47.6% in the fourth quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock valued at $412,463,000 after buying an additional 2,237,137 shares during the period. Morgan Stanley boosted its holdings in Symbotic by 85.4% during the fourth quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock worth $150,587,000 after buying an additional 1,165,513 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Symbotic by 51,346.1% during the 4th quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock worth $129,375,000 after buying an additional 2,178,615 shares during the period. UBS Group AG increased its stake in shares of Symbotic by 22.3% in the 3rd quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock valued at $59,601,000 after acquiring an additional 201,547 shares during the last quarter. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of Symbotic in the 4th quarter valued at approximately $63,034,000.

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.