Symbotic (NASDAQ:SYM) Shares Down 0.2%

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) were down 0.2% during mid-day trading on Monday . The company traded as low as $39.44 and last traded at $40.09. Approximately 267,121 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,395,408 shares. The stock had previously closed at $40.19.

Analyst Ratings Changes

A number of research analysts recently commented on SYM shares. Needham & Company LLC decreased their price target on shares of Symbotic from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Tuesday, February 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 price target on shares of Symbotic in a research note on Tuesday, February 6th. Robert W. Baird decreased their price target on shares of Symbotic from $54.00 to $52.00 and set an "outperform" rating on the stock in a research note 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 research note on Tuesday, February 6th. Finally, William Blair restated a "market perform" rating on shares of Symbotic 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.00.

Symbotic Stock Performance

The company has a market capitalization of $23.23 billion, a PE ratio of -149.11 and a beta of 1.91. The stock's 50 day moving average is $43.13 and its 200 day moving average is $44.29.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. The firm had revenue of $368.45 million for the quarter, compared to analyst estimates of $370.28 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. On average, equities research analysts forecast that Symbotic Inc. will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling at Symbotic

In related news, insider Richard B. Cohen sold 5,000,000 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Richard B. Cohen sold 5,000,000 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder David A. Ladensohn sold 2,085,296 shares of the business's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $39.69, for a total transaction of $82,765,398.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,108,673 shares of company stock worth $275,394,824. 38.30% of the stock is owned by corporate insiders.

Institutional Trading of Symbotic

A number of hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp acquired a new position in shares of Symbotic during the fourth quarter valued at about $26,000. National Bank of Canada FI increased 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 acquiring an additional 400 shares in the last quarter. Providence Capital Advisors LLC acquired a new position in shares of Symbotic during the third quarter valued at about $33,000. Pingora Partners LLC acquired a new position in shares of Symbotic during the fourth quarter valued at about $51,000. Finally, Global Retirement Partners LLC increased its holdings in shares of Symbotic by 166.7% during the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company's stock valued at $48,000 after acquiring an additional 660 shares in 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.