Symbotic (NASDAQ:SYM) Stock Price Up 0.1%

Symbotic Inc. (NASDAQ:SYM - Get Free Report) shares rose 0.1% on Wednesday . The stock 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.

Analyst Ratings Changes

SYM has been the subject of several analyst reports. 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 report on Tuesday, February 6th. William Blair reiterated a "market perform" rating 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 report on Tuesday, February 6th. Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 price target on shares of Symbotic in a report on Tuesday, February 6th. Finally, Robert W. Baird cut their price target on Symbotic from $54.00 to $52.00 and set an "outperform" rating for the company in a report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.85.

Symbotic Stock Up 0.5 %

The business has a 50-day simple moving average of $43.90 and a two-hundred day simple moving average of $43.20. The stock has a market capitalization of $25.75 billion, a P/E ratio of -165.30 and a beta of 1.91.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings results on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $370.28 million. On average, sell-side analysts forecast that Symbotic Inc. will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Symbotic

In other Symbotic news, major shareholder David A. Ladensohn sold 2,085,296 shares of the business's 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 document filed with the SEC, which is available at this link. In other news, major shareholder David A. Ladensohn sold 2,085,296 shares of the company's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $39.69, for a total transaction of $82,765,398.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael David Dunn sold 74,198 shares of the company's stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $45.69, for a total value of $3,390,106.62. Following the transaction, the insider now directly owns 62,624 shares in the company, valued at approximately $2,861,290.56. The disclosure for this sale can be found here. Insiders have sold 7,250,026 shares of company stock worth $281,699,956 over the last three months. Company insiders own 38.30% of the company's stock.

Hedge Funds Weigh In On Symbotic

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp acquired a new position in Symbotic in the fourth quarter valued at about $26,000. National Bank of Canada FI lifted its stake in Symbotic by 66.7% in the third quarter. National Bank of Canada FI now owns 1,000 shares of the company's stock valued at $35,000 after buying an additional 400 shares during the period. Providence Capital Advisors LLC acquired a new position in Symbotic in the third quarter valued at about $33,000. Pingora Partners LLC acquired a new position in Symbotic in the fourth quarter valued at about $51,000. Finally, Centerpoint Advisors LLC acquired a new position in Symbotic in the fourth quarter valued at about $62,000.

About Symbotic

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.