Symbotic (NASDAQ:SYM) Shares Up 1.3%

Symbotic Inc. (NASDAQ:SYM) shares rose 1.3% on Tuesday . The stock traded as high as $36.50 and last traded at $35.95. Approximately 141,515 shares were traded during trading, a decline of 90% from the average daily volume of 1,380,358 shares. The stock had previously closed at $35.48.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research note on Friday, May 10th. Robert W. Baird increased their price objective on Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Northland Securities increased their price objective on Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $54.00 price objective on shares of Symbotic in a research note on Tuesday, May 7th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Symbotic Stock Up 1.0 %

The business has a fifty day simple moving average of $39.46 and a 200-day simple moving average of $43.01. The firm has a market cap of $20.95 billion, a P/E ratio of -149.79 and a beta of 1.87.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.25. The business had revenue of $424.30 million during the quarter, compared to the consensus estimate of $415.98 million. Symbotic had a positive return on equity of 5.27% and a negative net margin of 1.27%. On average, sell-side analysts anticipate that Symbotic Inc. will post -0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Janet L. Cohen sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $43.26, for a total transaction of $1,081,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Janet L. Cohen sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $43.26, for a total transaction of $1,081,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rollin L. Ford sold 49,998 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $37.29, for a total value of $1,864,425.42. Following the transaction, the director now owns 10,447 shares of the company’s stock, valued at $389,568.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,770 shares of company stock worth $5,795,090. 38.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently bought and sold shares of the business. RFP Financial Group LLC grew its stake in shares of Symbotic by 21.2% during the 1st quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock valued at $62,000 after purchasing an additional 242 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Symbotic by 11.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $123,000 after purchasing an additional 284 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Symbotic by 8.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,875 shares of the company’s stock valued at $250,000 after purchasing an additional 400 shares during the period. Natixis Advisors L.P. grew its stake in shares of Symbotic by 4.3% during the 4th quarter. Natixis Advisors L.P. now owns 10,983 shares of the company’s stock valued at $563,000 after purchasing an additional 456 shares during the period. Finally, Van ECK Associates Corp bought a new stake in shares of Symbotic during the 4th quarter valued at about $26,000.

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.