Symbotic (NASDAQ:SYM) Trading Down 2.1%

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) dropped 2.1% during trading on Tuesday . The company traded as low as $39.02 and last traded at $39.42. Approximately 133,266 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 1,391,311 shares. The stock had previously closed at $40.26.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SYM. Cantor Fitzgerald reissued an "overweight" rating and set a $60.00 price target on shares of Symbotic in a research report on Tuesday, February 6th. KeyCorp cut 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 decreased their target price on Symbotic from $54.00 to $52.00 and set an "outperform" rating for the company in a research report on Tuesday, February 6th. The Goldman Sachs Group lowered their price target on Symbotic from $51.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, February 6th. Finally, DA Davidson raised shares of 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. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $54.00.

Symbotic Stock Performance

The business's 50 day moving average price is $43.01 and its two-hundred day moving average price is $44.28. The company has a market capitalization of $22.26 billion, a price-to-earnings ratio of -142.85 and a beta of 1.91.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly 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 company 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%. On average, sell-side analysts expect that Symbotic Inc. will post -0.03 earnings per share for the current year.

Insider Transactions at Symbotic

In related news, insider Richard B. Cohen sold 5,000,000 shares of the 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Michael David Dunn sold 1,747 shares of the firm's stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $40.08, for a total value of $70,019.76. Following the completion of the sale, the insider now owns 74,032 shares of the company's stock, valued at $2,967,202.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard B. Cohen sold 5,000,000 shares of Symbotic 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 disclosure for this sale can be found here. Insiders sold a total of 7,110,447 shares of company stock valued at $275,433,529 in the last three months. 38.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its position in Symbotic by 195.5% in the 3rd quarter. Barclays PLC now owns 8,008 shares of the company's stock worth $268,000 after purchasing an additional 5,298 shares during the last quarter. Aigen Investment Management LP bought a new position in Symbotic during the third quarter valued at approximately $545,000. LPL Financial LLC lifted its stake in Symbotic by 578.0% in the third quarter. LPL Financial LLC now owns 102,059 shares of the company's stock valued at $3,412,000 after acquiring an additional 87,006 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Symbotic by 176.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 75,527 shares of the company's stock worth $2,525,000 after acquiring an additional 48,214 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Symbotic during the 3rd quarter valued at $1,101,000.

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.