Symbotic (NASDAQ:SYM) Trading Down 0.4%

Symbotic Inc. (NASDAQ:SYM - Get Free Report) shares fell 0.4% during mid-day trading on Tuesday . The stock traded as low as $44.91 and last traded at $45.07. 97,879 shares changed hands during trading, a decline of 93% from the average session volume of 1,499,728 shares. The stock had previously closed at $45.23.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SYM. Robert W. Baird reduced their price objective on Symbotic from $54.00 to $52.00 and set an "outperform" rating for the company in a research note on Tuesday, February 6th. Needham & Company LLC reduced their price objective on Symbotic from $58.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, February 6th. DA Davidson upgraded Symbotic from a "neutral" rating to a "buy" rating and set a $50.00 price objective for the company in a report on Wednesday, February 7th. William Blair reissued a "market perform" rating on shares of Symbotic in a research report on Tuesday, February 6th. Finally, KeyCorp dropped their target price on Symbotic from $63.00 to $55.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 6th. Three equities research 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.com, the company has an average rating of "Moderate Buy" and a consensus price target of $52.85.

Symbotic Stock Performance

The company has a market capitalization of $26.54 billion, a PE ratio of -166.93 and a beta of 1.91. The firm's 50-day simple moving average is $44.02 and its 200 day simple moving average is $43.53.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings data on Monday, February 5th. The company reported ($0.02) 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 business had revenue of $368.45 million for the quarter, compared to analyst estimates of $370.28 million. As a group, equities analysts anticipate that Symbotic Inc. will post -0.02 earnings per share for the current year.

Insider Activity at Symbotic

In related news, insider Richard B. Cohen sold 5,000,000 shares of the business's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The sale was disclosed in a 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 company's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $38.32, for a total transaction of $191,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Todd Krasnow sold 2,000 shares of the company's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $51.50, for a total transaction of $103,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,188,628 shares of company stock valued at $279,026,777. 38.30% of the stock is owned by insiders.

Institutional Trading of Symbotic

A number of institutional investors have recently modified their holdings of SYM. Softbank Group CORP. raised its position in shares of Symbotic by 1,000.0% during the 1st quarter. Softbank Group CORP. now owns 22,000,000 shares of the company's stock valued at $502,480,000 after acquiring an additional 20,000,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Symbotic by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 2,081,034 shares of the company's stock valued at $106,819,000 after purchasing an additional 40,699 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Symbotic by 189.5% during the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company's stock worth $54,174,000 after acquiring an additional 690,900 shares during the period. Frontier Capital Management Co. LLC grew its holdings in Symbotic by 202.3% during the first quarter. Frontier Capital Management Co. LLC now owns 1,041,144 shares of the company's stock worth $23,780,000 after acquiring an additional 696,727 shares during the period. Finally, Voloridge Investment Management LLC grew its holdings in Symbotic by 19.1% during the fourth quarter. Voloridge Investment Management LLC now owns 882,734 shares of the company's stock worth $45,311,000 after acquiring an additional 141,333 shares during the period.

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.