Symbotic (NASDAQ:SYM) Trading Up 2.2%

Symbotic Inc. (NASDAQ:SYM - Get Free Report) rose 2.2% during mid-day trading on Wednesday . The company traded as high as $42.37 and last traded at $41.79. Approximately 303,505 shares were traded during trading, a decline of 79% from the average daily volume of 1,448,242 shares. The stock had previously closed at $40.88.

Wall Street Analysts Forecast Growth

SYM has been the topic of a number of analyst reports. Robert W. Baird decreased their target price on shares of Symbotic from $54.00 to $52.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 6th. KeyCorp decreased their price target on shares of Symbotic from $63.00 to $55.00 and set an "overweight" rating on the stock in a report on Tuesday, February 6th. The Goldman Sachs Group decreased their price target on shares of Symbotic from $51.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, February 6th. DA Davidson upgraded shares of 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. Finally, William Blair reiterated a "market perform" rating on shares of Symbotic in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.00.

Symbotic Trading Up 2.6 %

The firm has a market cap of $24.21 billion, a PE ratio of -155.41 and a beta of 1.91. The stock's 50 day moving average price is $43.77 and its 200 day moving average price is $44.01.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings results on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $370.28 million. Analysts forecast that Symbotic Inc. will post -0.02 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction 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 filing with the SEC, which is available at the SEC website. In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the firm's stock in a transaction on Monday, February 5th. The shares were sold at an average price of $51.50, for a total transaction of $103,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael David Dunn sold 74,198 shares of the firm's stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $45.69, for a total transaction of $3,390,106.62. Following the transaction, the insider now directly owns 62,624 shares of the company's stock, valued at $2,861,290.56. The disclosure for this sale can be found here. Insiders have sold 7,188,628 shares of company stock valued at $279,026,777 in the last quarter. Company insiders own 38.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SYM. Van ECK Associates Corp bought a new position in Symbotic in the fourth quarter worth about $26,000. Rockefeller Capital Management L.P. bought a new position in shares of Symbotic during the fourth quarter valued at approximately $29,000. Providence Capital Advisors LLC bought a new position in shares of Symbotic during the third quarter valued at approximately $33,000. JPMorgan Chase & Co. grew its holdings in shares of Symbotic by 1,412.0% during the first quarter. JPMorgan Chase & Co. now owns 1,512 shares of the company's stock valued at $35,000 after purchasing an additional 1,412 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Symbotic by 66.7% during the third quarter. National Bank of Canada FI now owns 1,000 shares of the company's stock valued at $35,000 after purchasing an additional 400 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.