Symbotic (NASDAQ:SYM) Trading Down 2.9%

Symbotic Inc. (NASDAQ:SYM) traded down 2.9% during trading on Monday . The stock traded as low as $40.72 and last traded at $41.29. 329,029 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 1,458,375 shares. The stock had previously closed at $42.51.

Analyst Ratings Changes

Several research analysts have commented on the company. Northland Securities raised their target price on Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. KeyCorp lowered their price target on Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Wednesday, February 7th. Robert W. Baird lowered their price target on Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Finally, Needham & Company LLC lowered their price target on Symbotic from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Symbotic currently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Symbotic Price Performance

The stock has a 50-day moving average price of $43.77 and a two-hundred day moving average price of $44.01.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The business had revenue of $368.45 million during the quarter, compared to the consensus estimate of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. On average, equities research analysts anticipate that Symbotic Inc. will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Symbotic

In other 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 document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $51.50, for a total transaction of $103,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael David Dunn sold 5,444 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $43.29, for a total transaction of $235,670.76. Following the completion of the transaction, the insider now owns 71,366 shares of the company’s stock, valued at $3,089,434.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,188,628 shares of company stock worth $279,026,777. 38.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Symbotic

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. purchased a new stake in Symbotic in the second quarter worth approximately $534,000. UBS Group AG purchased a new position in shares of Symbotic in the 3rd quarter worth $224,000. BlackRock Inc. grew its holdings in shares of Symbotic by 325.5% in the third quarter. BlackRock Inc. now owns 170,213 shares of the company’s stock worth $1,958,000 after acquiring an additional 130,213 shares during the period. Bank of New York Mellon Corp purchased a new stake in Symbotic during the third quarter valued at $181,000. Finally, Vanguard Group Inc. bought a new position in Symbotic in the third quarter valued at about $1,523,000.

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.