Symbotic (NASDAQ:SYM) Stock Price Down 3.8%

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) fell 3.8% on Friday . The company traded as low as $42.70 and last traded at $43.06. 424,696 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 1,423,725 shares. The stock had previously closed at $44.75.

Analyst Upgrades and Downgrades

Several analysts recently commented on SYM shares. Robert W. Baird raised their price objective on Symbotic from $52.00 to $53.00 and gave the stock an "outperform" rating in a research note on Tuesday. DA Davidson upgraded Symbotic from a "neutral" rating to a "buy" rating and set a $50.00 target price for the company in a report on Wednesday, February 7th. Needham & Company LLC reiterated a "buy" rating and set a $54.00 target price on shares of Symbotic in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on Symbotic from $57.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Northland Securities raised their price objective on Symbotic from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $55.69.

Symbotic Price Performance

The firm's fifty day moving average price is $43.40 and its two-hundred day moving average price is $44.25. The stock has a market cap of $24.12 billion, a price-to-earnings ratio of -154.96 and a beta of 1.97.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data 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. 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 anticipate that Symbotic Inc. will post -0.03 earnings per share for the current year.

Insiders Place Their Bets

In other Symbotic news, insider Michael David Dunn sold 1,747 shares of the company's stock in a transaction dated Wednesday, April 24th. The shares were 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 directly owns 74,032 shares of the company's stock, valued at approximately $2,967,202.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider William M. Boyd III sold 8,825 shares of the business's stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $40.34, for a total value of $356,000.50. Following the sale, the insider now owns 23,012 shares of the company's stock, valued at $928,304.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael David Dunn sold 1,747 shares of the company's stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $40.08, for a total transaction of $70,019.76. Following the sale, the insider now owns 74,032 shares in the company, valued at $2,967,202.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,110,447 shares of company stock valued at $275,410,529. Corporate insiders own 38.30% of the company's stock.

Institutional Trading of Symbotic

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

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.

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