Symbotic (NASDAQ:SYM) Shares Down 2.3% - Should You Sell?

Key Points

• Shares fell 2.3% intraday to $49.43 on higher-than-average volume (2.19M, +16% vs. the average session).
• Symbotic reported EPS of $0.02 vs. $0.08 expected (a miss) while revenue of $629.99M beat estimates and grew 29.4% year-over-year.
• Analysts are split (average rating "Hold", $60.57 average price target) and insiders sold roughly 192,533 shares (~$11.4M) over the last quarter.

Symbotic Inc. (NASDAQ:SYM - Get Free Report)'s stock price traded down 2.3% during mid-day trading on Friday . The company traded as low as $48.92 and last traded at $49.43. 2,189,846 shares were traded during trading, an increase of 16% from the average session volume of 1,893,174 shares. The stock had previously closed at $50.58.

Wall Street Analyst Weigh In

A number of research analysts have commented on SYM shares. TD Cowen reaffirmed a "buy" rating on shares of Symbotic in a research report on Wednesday, December 3rd. Wall Street Zen downgraded shares of Symbotic from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Citigroup restated an "outperform" rating on shares of Symbotic in a report on Thursday, February 5th. Robert W. Baird increased their price objective on shares of Symbotic from $55.00 to $58.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 26th. Finally, Northcoast Research downgraded shares of Symbotic from a "buy" rating to a "neutral" rating in a report on Tuesday, November 25th. Six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $60.57.

Symbotic Stock Performance

The company has a market capitalization of $29.77 billion, a price-to-earnings ratio of -494.25, a P/E/G ratio of 5.11 and a beta of 2.13. The firm has a 50-day simple moving average of $58.99 and a two-hundred day simple moving average of $60.65.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.06). Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The business had revenue of $629.99 million for the quarter, compared to analyst estimates of $622.58 million. During the same period in the prior year, the company posted ($0.03) EPS. The firm's revenue for the quarter was up 29.4% compared to the same quarter last year. As a group, equities analysts forecast that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Todd Krasnow sold 4,000 shares of the company's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $53.73, for a total transaction of $214,920.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider William M. Boyd III sold 15,000 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 192,533 shares of company stock valued at $11,424,175. Corporate insiders own 8.16% of the company's stock.

Hedge Funds Weigh In On Symbotic

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MAI Capital Management increased its stake in shares of Symbotic by 833.3% during the third quarter. MAI Capital Management now owns 560 shares of the company's stock worth $30,000 after buying an additional 500 shares during the period. IAG Wealth Partners LLC purchased a new position in Symbotic in the second quarter worth approximately $32,000. Parkside Financial Bank & Trust grew its holdings in Symbotic by 100.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company's stock worth $32,000 after acquiring an additional 268 shares in the last quarter. Quarry LP acquired a new position in Symbotic during the 4th quarter worth approximately $36,000. Finally, Parallel Advisors LLC increased its position in shares of Symbotic by 67.3% in the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company's stock valued at $37,000 after purchasing an additional 249 shares during the last quarter.

Symbotic Company Profile

Symbotic Inc NASDAQ: SYM is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.

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