Symbotic (NASDAQ:SYM) Trading Down 0.9%

Symbotic Inc. (NASDAQ:SYM)’s share price was down 0.9% during trading on Tuesday . The stock traded as low as $39.51 and last traded at $40.25. Approximately 281,937 shares were traded during trading, a decline of 81% from the average daily volume of 1,455,086 shares. The stock had previously closed at $40.61.

Analyst Ratings Changes

Several equities analysts have recently commented on SYM shares. The Goldman Sachs Group reduced their target price on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research report on Tuesday, February 6th. KeyCorp dropped their target price on Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research report on Tuesday, February 6th. Finally, Robert W. Baird dropped their target price on Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a research 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Symbotic Stock Performance

The stock has a 50 day moving average of $43.71 and a two-hundred day moving average of $43.96. The firm has a market capitalization of $23.71 billion, a P/E ratio of -149.07 and a beta of 1.91.

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

Insider Transactions at Symbotic

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $42.20, for a total value of $84,400.00. Following the completion of the transaction, 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 SEC, which can be accessed through this hyperlink. In other Symbotic news, insider Richard B. Cohen sold 5,000,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $38.32, for a total value of $191,600,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was 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 of the company’s stock, valued at $440,863.40. The disclosure for this sale can be found here. Insiders sold a total of 7,188,628 shares of company stock worth $279,026,777 over the last 90 days. 38.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently added to or reduced their stakes in SYM. Register Financial Advisors LLC raised its position in shares of Symbotic by 124.0% in the first quarter. Register Financial Advisors LLC now owns 11,200 shares of the company’s stock worth $504,000 after buying an additional 6,200 shares in the last quarter. Bourne Lent Asset Management Inc. raised its position in shares of Symbotic by 5.7% during the 1st quarter. Bourne Lent Asset Management Inc. now owns 61,560 shares of the company’s stock valued at $2,770,000 after buying an additional 3,300 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Symbotic during the 4th quarter valued at about $1,669,000. PNC Financial Services Group Inc. grew its holdings in Symbotic by 7.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the company’s stock valued at $597,000 after purchasing an additional 800 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Symbotic by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 2,081,034 shares of the company’s stock valued at $106,819,000 after purchasing an additional 40,699 shares during 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.