Symbotic (NASDAQ:SYM) Shares Down 3.9% - Time to Sell?

Symbotic Inc. (NASDAQ:SYM - Get Free Report) shares fell 3.9% during mid-day trading on Tuesday . The stock traded as low as $45.45 and last traded at $45.42. 800,808 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 2,036,209 shares. The stock had previously closed at $47.28.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SYM shares. The Goldman Sachs Group decreased their price objective on Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. BWS Financial reaffirmed a "sell" rating and set a $10.00 price target on shares of Symbotic in a research report on Wednesday, April 2nd. Arete Research upgraded shares of Symbotic to a "strong-buy" rating and set a $50.00 price objective for the company in a research note on Wednesday, June 25th. Arete began coverage on shares of Symbotic in a report on Wednesday, June 25th. They set a "buy" rating and a $50.00 target price on the stock. Finally, Northland Securities raised their target price on shares of Symbotic from $35.00 to $56.00 and gave the stock an "outperform" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $39.59.

Symbotic Stock Up 3.2%

The business's 50 day moving average is $31.01 and its 200-day moving average is $26.59. The firm has a market capitalization of $27.81 billion, a P/E ratio of -1,179.00, a PEG ratio of 78.80 and a beta of 2.03.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). Symbotic had a negative net margin of 0.23% and a negative return on equity of 1.26%. The company had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. During the same quarter in the prior year, the business earned ($0.07) EPS. The business's quarterly revenue was up 39.7% on a year-over-year basis. Research analysts forecast that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Insider Transactions at Symbotic

In other Symbotic news, insider Maria G. Freve sold 1,929 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $21.69, for a total value of $41,840.01. Following the sale, the insider owned 2,646 shares in the company, valued at $57,391.74. This trade represents a 42.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniela L. Rus sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $30.00, for a total transaction of $30,000.00. Following the completion of the sale, the director owned 26,435 shares in the company, valued at $793,050. This represents a 3.64% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,616 shares of company stock valued at $1,140,517. Corporate insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently modified their holdings of SYM. Jones Financial Companies Lllp lifted its holdings in shares of Symbotic by 154.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock worth $58,000 after purchasing an additional 1,490 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Symbotic by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 230,996 shares of the company's stock worth $5,477,000 after purchasing an additional 11,922 shares during the period. M&T Bank Corp lifted its holdings in shares of Symbotic by 23.5% during the fourth quarter. M&T Bank Corp now owns 18,095 shares of the company's stock worth $429,000 after purchasing an additional 3,445 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Symbotic during the fourth quarter worth $20,754,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Symbotic by 146.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,832 shares of the company's stock valued at $91,000 after buying an additional 2,275 shares during the period.

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.