Symbotic (NASDAQ:SYM) Stock Price Down 2%

Shares of Symbotic Inc. (NASDAQ:SYM) were down 2% during trading on Wednesday . The company traded as low as $35.40 and last traded at $35.45. Approximately 174,752 shares were traded during trading, a decline of 87% from the average daily volume of 1,375,169 shares. The stock had previously closed at $36.19.

Analyst Ratings Changes

A number of analysts have recently commented on SYM shares. Robert W. Baird lifted their price target 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 lifted their price target on Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft lifted their price target on Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. William Blair restated a “market perform” rating on shares of Symbotic in a research report on Friday, May 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $54.00 price objective on shares of Symbotic in a research report on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Symbotic presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Symbotic Stock Down 1.9 %

The company has a market cap of $20.75 billion, a PE ratio of -147.70 and a beta of 1.87. The company has a 50-day moving average of $39.38 and a 200-day moving average of $42.89.

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

Insiders Place Their Bets

In other Symbotic news, major shareholder Janet L. Cohen sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $43.26, for a total value of $1,081,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder Janet L. Cohen sold 25,000 shares of the company’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 legal filing with the SEC, which is accessible through this link. Also, 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 value of $84,400.00. Following the transaction, the director now directly owns 10,447 shares in the company, valued at approximately $440,863.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,770 shares of company stock valued at $5,795,090. Insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. LPL Financial LLC raised its stake in shares of Symbotic by 578.0% during the 3rd quarter. LPL Financial LLC now owns 102,059 shares of the company’s stock valued at $3,412,000 after purchasing an additional 87,006 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Symbotic during the 4th quarter valued at $1,669,000. Seven Eight Capital LP bought a new stake in shares of Symbotic during the 4th quarter valued at $2,568,000. Dynamic Technology Lab Private Ltd bought a new position in Symbotic in the 4th quarter worth about $2,302,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in Symbotic in the 3rd quarter worth about $3,147,000.

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.