Symbotic (NASDAQ:SYM) Shares Up 0.1%

Symbotic Inc. (NASDAQ:SYMGet Free Report)’s stock price rose 0.1% on Wednesday . The company traded as high as $44.87 and last traded at $44.45. Approximately 105,194 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 1,549,815 shares. The stock had previously closed at $44.39.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SYM shares. KeyCorp reduced their target price on Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, February 6th. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a report on Wednesday, February 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a report on Tuesday, February 6th. Needham & Company LLC cut their price target on Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Finally, The Goldman Sachs Group cut their price target on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Symbotic has an average rating of “Moderate Buy” and a consensus target price of $52.85.

Get Our Latest Stock Report on Symbotic

Symbotic Trading Up 0.5 %

The firm’s 50 day moving average is $43.83 and its two-hundred day moving average is $43.19. The stock has a market cap of $25.73 billion, a price-to-earnings ratio of -164.63 and a beta of 1.91.

Symbotic (NASDAQ:SYMGet Free Report) last announced its earnings results on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. The firm had revenue of $368.45 million during the quarter, compared to the consensus estimate of $370.28 million. As a group, equities analysts expect that Symbotic Inc. will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling at Symbotic

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $51.50, for a total value of $103,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Symbotic news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $51.50, for a total value of $103,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard B. Cohen sold 5,000,000 shares of Symbotic stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The disclosure for this sale can be found here. Insiders sold 7,250,026 shares of company stock worth $281,699,956 in the last 90 days. 38.30% of the stock is owned by company insiders.

Institutional Trading of Symbotic

A number of institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd purchased a new stake in shares of Symbotic during the 4th quarter worth about $1,669,000. PNC Financial Services Group Inc. grew its holdings in shares of Symbotic by 7.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the company’s stock worth $597,000 after purchasing an additional 800 shares during the period. Vanguard Group Inc. grew its holdings in shares of Symbotic by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 2,081,034 shares of the company’s stock worth $106,819,000 after purchasing an additional 40,699 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Symbotic by 2.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 369,026 shares of the company’s stock worth $18,944,000 after purchasing an additional 8,058 shares during the period. Finally, Voloridge Investment Management LLC lifted its position in Symbotic by 19.1% during the 4th quarter. Voloridge Investment Management LLC now owns 882,734 shares of the company’s stock worth $45,311,000 after acquiring an additional 141,333 shares in the last quarter.

Symbotic Company Profile

(Get Free Report)

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.

Further Reading

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