Symbotic (NASDAQ:SYM) Stock Price Up 0.4%

Symbotic Inc. (NASDAQ:SYM - Get Free Report) was up 0.4% on Friday . The stock traded as high as $40.26 and last traded at $40.25. Approximately 249,829 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 1,439,942 shares. The stock had previously closed at $40.09.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SYM shares. William Blair reiterated a "market perform" rating on shares of Symbotic 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 objective on the stock in a research note on Wednesday, February 7th. KeyCorp dropped their price objective on Symbotic from $63.00 to $55.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 6th. Robert W. Baird dropped their price objective on Symbotic from $54.00 to $52.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 6th. Finally, Needham & Company LLC dropped their price objective on Symbotic from $58.00 to $54.00 and set a "buy" rating on the stock in a research note 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $54.00.

Symbotic Trading Down 0.9 %

The firm has a market cap of $22.93 billion, a P/E ratio of -147.15 and a beta of 1.91. The firm has a 50-day simple moving average of $43.63 and a 200-day simple moving average of $44.00.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its earnings results on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The business had revenue of $368.45 million for the quarter, compared to analysts' expectations of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. Research analysts predict that Symbotic Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Symbotic

In other 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Ladensohn sold 2,085,296 shares of the firm'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 disclosure for this sale can be found here. Insiders sold 7,188,628 shares of company stock valued at $279,026,777 in the last quarter. 38.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Symbotic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Sense Advisors Inc. purchased a new position in Symbotic in the 1st quarter worth $247,000. Taylor Frigon Capital Management LLC raised its stake in shares of Symbotic by 7.0% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 66,962 shares of the company's stock valued at $3,013,000 after buying an additional 4,400 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in shares of Symbotic during the 1st quarter valued at about $302,000. First Dallas Securities Inc. raised its stake in shares of Symbotic by 60.8% during the 1st quarter. First Dallas Securities Inc. now owns 19,300 shares of the company's stock valued at $869,000 after buying an additional 7,300 shares during the last quarter. Finally, Register Financial Advisors LLC raised its stake in shares of Symbotic by 124.0% during the 1st quarter. Register Financial Advisors LLC now owns 11,200 shares of the company's stock valued at $504,000 after buying an additional 6,200 shares during the last quarter.

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.