Symbotic (NASDAQ:SYM) Shares Down 0.9%

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) traded down 0.9% on Tuesday . The company traded as low as $39.51 and last traded at $40.25. 281,937 shares traded hands during trading, a decline of 81% from the average session volume of 1,455,086 shares. The stock had previously closed at $40.61.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. KeyCorp cut their target price on shares of 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 lowered 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. Northland Securities upped their price target on Symbotic from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Wednesday, April 10th. DA Davidson raised Symbotic from a "neutral" rating to a "buy" rating and set a $50.00 price target for the company in a report on Wednesday, February 7th. Finally, William Blair reaffirmed a "market perform" rating on shares of Symbotic in a report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Symbotic presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.00.

Symbotic Price Performance

The company has a 50 day moving average price of $43.71 and a 200 day moving average price of $43.96. The firm has a market cap of $23.59 billion, a PE ratio of -149.07 and a beta of 1.91.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings results 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 return on equity of 35.06% and a negative net margin of 1.39%. The business had revenue of $368.45 million during the quarter, compared to analysts' expectations of $370.28 million. On average, equities analysts anticipate that Symbotic Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Symbotic

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $51.50, for a total value of $103,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $51.50, for a total value of $103,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael David Dunn sold 74,198 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $45.69, for a total value of $3,390,106.62. Following the completion of the transaction, the insider now owns 62,624 shares of the company's stock, valued at approximately $2,861,290.56. The disclosure for this sale can be found here. Insiders sold 7,188,628 shares of company stock worth $279,026,777 over the last 90 days. 38.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. purchased a new position in shares of Symbotic in the second quarter valued at $534,000. UBS Group AG purchased a new position in shares of Symbotic in the third quarter valued at $224,000. BlackRock Inc. increased its position in shares of Symbotic by 325.5% in the third quarter. BlackRock Inc. now owns 170,213 shares of the company's stock valued at $1,958,000 after buying an additional 130,213 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Symbotic in the third quarter valued at $181,000. Finally, Vanguard Group Inc. purchased a new position in shares of Symbotic in the third quarter valued at $1,523,000.

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.