Symbotic (NASDAQ:SYM) Shares Down 0.9%

Symbotic Inc. (NASDAQ:SYM)’s share price fell 0.9% during mid-day trading on Tuesday . The company traded as low as $32.42 and last traded at $33.80. 724,960 shares were traded during trading, a decline of 47% from the average session volume of 1,373,582 shares. The stock had previously closed at $34.12.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SYM. Craig Hallum boosted their target price on shares of Symbotic from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. William Blair restated a “market perform” rating on shares of Symbotic in a research report on Friday, May 10th. Northland Securities boosted their price target on shares of Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of Symbotic in a research report on Tuesday, May 7th. Finally, Robert W. Baird boosted their price target on shares of Symbotic from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.69.

Symbotic Stock Up 1.0 %

The stock’s 50-day moving average is $41.12 and its 200 day moving average is $44.26. The stock has a market capitalization of $20.15 billion, a PE ratio of -140.83 and a beta of 1.93.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.25. Symbotic had a negative net margin of 1.27% and a positive return on equity of 5.27%. The firm had revenue of $424.30 million for the quarter, compared to the consensus estimate of $415.98 million. As a group, equities research analysts forecast that Symbotic Inc. will post -0.07 EPS for the current year.

Insider Activity at Symbotic

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $42.20, for a total value of $84,400.00. Following the completion of the sale, the director now directly owns 10,447 shares of the company’s stock, valued at $440,863.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $42.20, for a total transaction of $84,400.00. Following the completion of the sale, the director now directly owns 10,447 shares of the company’s stock, valued at approximately $440,863.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael David Dunn sold 1,200 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $44.02, for a total transaction of $52,824.00. Following the sale, the insider now directly owns 70,832 shares of the company’s stock, valued at $3,118,024.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 150,214 shares of company stock valued at $6,030,760. Corporate insiders own 38.30% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Several large investors have recently made changes to their positions in SYM. Van ECK Associates Corp bought a new stake in shares of Symbotic in the 4th quarter worth about $26,000. Providence Capital Advisors LLC bought a new stake in Symbotic during the 3rd quarter worth about $33,000. RiverPark Advisors LLC bought a new stake in Symbotic during the 1st quarter worth about $37,000. Global Retirement Partners LLC grew its holdings in Symbotic by 166.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after acquiring an additional 660 shares during the last quarter. Finally, Pingora Partners LLC bought a new stake in Symbotic during the 4th quarter worth about $51,000.

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.