Symbotic (NASDAQ:SYM) Shares Up 4.4%

Shares of Symbotic Inc. (NASDAQ:SYM) shot up 4.4% on Monday . The stock traded as high as $43.15 and last traded at $42.92. 702,731 shares traded hands during trading, a decline of 49% from the average session volume of 1,372,678 shares. The stock had previously closed at $41.13.

Analyst Ratings Changes

Several research firms recently weighed in on SYM. William Blair restated a “market perform” rating on shares of Symbotic in a research note on Tuesday, February 6th. Needham & Company LLC decreased their target price on Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. DA Davidson upgraded Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Wednesday, February 7th. Robert W. Baird decreased their target price on Symbotic from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. Finally, Northland Securities boosted 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. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Symbotic has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Symbotic Stock Up 2.0 %

The company has a fifty day moving average of $42.99 and a two-hundred day moving average of $44.19. The stock has a market capitalization of $24.20 billion, a price-to-earnings ratio of -158.96 and a beta of 1.97.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, February 5th. The company reported ($0.02) earnings per share 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 firm had revenue of $368.45 million during the quarter, compared to the consensus estimate of $370.28 million. Equities analysts anticipate that Symbotic Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Symbotic news, major shareholder David A. Ladensohn sold 2,085,296 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $39.69, for a total value of $82,765,398.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Michael David Dunn sold 1,747 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $40.08, for a total value of $70,019.76. Following the completion of the transaction, the insider now owns 74,032 shares in the company, valued at $2,967,202.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder David A. Ladensohn sold 2,085,296 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.69, for a total value of $82,765,398.24. The disclosure for this sale can be found here. Insiders sold a total of 7,110,447 shares of company stock valued at $275,410,529 over the last three months. 38.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SYM. Van ECK Associates Corp purchased a new stake in Symbotic during the 4th quarter worth about $26,000. RiverPark Advisors LLC purchased a new stake in Symbotic during the 1st quarter worth about $37,000. Providence Capital Advisors LLC purchased a new stake in Symbotic during the 3rd quarter worth about $33,000. Pingora Partners LLC purchased a new stake in Symbotic during the 4th quarter worth about $51,000. Finally, Global Retirement Partners LLC increased its position in Symbotic by 166.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after purchasing an additional 660 shares in 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.