Symbotic (NASDAQ:SYM) Trading 0.4% Higher

Shares of Symbotic Inc. (NASDAQ:SYM) were up 0.4% during trading on Friday . The company traded as high as $40.26 and last traded at $40.25. Approximately 249,829 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,439,942 shares. The stock had previously closed at $40.09.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SYM shares. The Goldman Sachs Group cut their target price on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Robert W. Baird lowered their price target on shares of Symbotic from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price target on shares of Symbotic in a report on Tuesday, February 6th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Finally, Needham & Company LLC lowered their price target on shares of Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.00.

Symbotic Stock Performance

The company has a market capitalization of $22.96 billion, a price-to-earnings ratio of -148.74 and a beta of 1.91. The company’s fifty day simple moving average is $43.77 and its two-hundred day simple moving average is $43.97.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $368.45 million during the quarter, compared to analyst estimates of $370.28 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. Sell-side analysts anticipate that Symbotic Inc. will post -0.02 EPS for the current year.

Insiders Place Their Bets

In other news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $51.50, for a total value of $103,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Merline Saintil sold 3,135 shares of Symbotic stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $44.74, for a total value of $140,259.90. Following the sale, the director now directly owns 62,312 shares in the company, valued at approximately $2,787,838.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $51.50, for a total transaction of $103,000.00. The disclosure for this sale can be found here. Insiders sold a total of 7,188,628 shares of company stock valued at $279,026,777 in the last ninety days. Corporate insiders own 38.30% of the company’s stock.

Institutional Trading of Symbotic

Several hedge funds have recently bought and sold shares of SYM. Van ECK Associates Corp bought a new stake in shares of Symbotic in the 4th quarter worth approximately $26,000. Rockefeller Capital Management L.P. bought a new stake in shares of Symbotic in the 4th quarter worth approximately $29,000. Providence Capital Advisors LLC bought a new stake in shares of Symbotic in the 3rd quarter worth approximately $33,000. National Bank of Canada FI raised its holdings in shares of Symbotic by 66.7% in the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock worth $35,000 after purchasing an additional 400 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Symbotic by 1,412.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,512 shares of the company’s stock worth $35,000 after purchasing an additional 1,412 shares in 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.