Symbotic (NASDAQ:SYM) Shares Down 0.6%

Symbotic Inc. (NASDAQ:SYM - Get Free Report) traded down 0.6% during mid-day trading on Thursday . The company traded as low as $41.02 and last traded at $41.70. 192,141 shares were traded during trading, a decline of 87% from the average session volume of 1,443,759 shares. The stock had previously closed at $41.96.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. The Goldman Sachs Group lowered 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. William Blair restated a "market perform" rating on shares of Symbotic in a research report on Tuesday, February 6th. Needham & Company LLC cut their price objective on shares of Symbotic from $58.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, February 6th. Northland Securities increased their target price on shares of Symbotic from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 10th. Finally, KeyCorp lowered their target price on shares of Symbotic from $63.00 to $55.00 and set an "overweight" rating for the company in a research note 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, Symbotic has an average rating of "Moderate Buy" and an average target price of $54.00.

Symbotic Stock Down 4.5 %

The company has a 50 day moving average of $43.83 and a 200-day moving average of $44.00. The stock has a market capitalization of $23.13 billion, a P/E ratio of -148.48 and a beta of 1.91.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its earnings results on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, beating 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. Equities analysts forecast that Symbotic Inc. will post -0.02 EPS for the current fiscal year.

Insider Transactions at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of the company's stock in a transaction that occurred on Monday, February 5th. The stock was 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 is available through the SEC website. In other Symbotic news, insider Richard B. Cohen sold 5,000,000 shares of the stock in a transaction dated 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 document filed with the SEC, which is available at this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $51.50, for a total value of $103,000.00. 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 three months. Corporate insiders own 38.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Toth Financial Advisory Corp acquired a new position in Symbotic in the 1st quarter valued at $302,000. First Dallas Securities Inc. lifted its holdings in Symbotic by 60.8% during the 1st quarter. First Dallas Securities Inc. now owns 19,300 shares of the company's stock worth $869,000 after buying an additional 7,300 shares during the period. Register Financial Advisors LLC lifted its holdings in Symbotic by 124.0% during the 1st quarter. Register Financial Advisors LLC now owns 11,200 shares of the company's stock worth $504,000 after buying an additional 6,200 shares during the period. Bourne Lent Asset Management Inc. lifted its holdings in Symbotic by 5.7% during the 1st quarter. Bourne Lent Asset Management Inc. now owns 61,560 shares of the company's stock worth $2,770,000 after buying an additional 3,300 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of Symbotic in the 4th quarter valued at about $1,669,000.

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.