Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) dropped 1.8% during trading on Friday following insider selling activity. The stock traded as low as $52.69 and last traded at $53.20. Approximately 868,002 shares traded hands during trading, a decline of 58% from the average daily volume of 2,080,376 shares. The stock had previously closed at $54.18.
Specifically, Director Daniela L. Rus sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $48.33, for a total transaction of $48,330.00. Following the transaction, the director owned 22,729 shares in the company, valued at approximately $1,098,492.57. This represents a 4.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William M. Boyd III sold 2,660 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $48.86, for a total transaction of $129,967.60. Following the transaction, the insider owned 31,884 shares in the company, valued at $1,557,852.24. The trade was a 7.70% decrease in their position. The disclosure for this sale can be found here.
Wall Street Analysts Forecast Growth
SYM has been the topic of a number of recent analyst reports. Arete Research upgraded shares of Symbotic to a "strong-buy" rating and set a $50.00 price target on the stock in a research note on Wednesday, June 25th. Arete began coverage on shares of Symbotic in a report on Wednesday, June 25th. They issued a "buy" rating and a $50.00 price objective on the stock. Citigroup reaffirmed a "buy" rating on shares of Symbotic in a report on Monday. Northland Securities upped their price objective on shares of Symbotic from $35.00 to $56.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, BWS Financial reaffirmed a "sell" rating and issued a $10.00 price objective on shares of Symbotic in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.24.
Get Our Latest Analysis on SYM
Symbotic Stock Up 0.7%
The business's 50-day simple moving average is $35.33 and its two-hundred day simple moving average is $27.98. The firm has a market cap of $32.16 billion, a price-to-earnings ratio of -1,363.50, a P/E/G ratio of 56.44 and a beta of 2.03.
Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. Symbotic had a negative return on equity of 1.26% and a negative net margin of 0.23%. The company's revenue was up 39.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) EPS. On average, analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of SYM. Charles Schwab Investment Management Inc. lifted its holdings in Symbotic by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 230,996 shares of the company's stock valued at $5,477,000 after purchasing an additional 11,922 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Symbotic by 146.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,832 shares of the company's stock worth $91,000 after buying an additional 2,275 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Symbotic by 13.0% in the fourth quarter. HighTower Advisors LLC now owns 26,371 shares of the company's stock worth $625,000 after buying an additional 3,033 shares in the last quarter. Swiss National Bank lifted its stake in shares of Symbotic by 2.4% in the fourth quarter. Swiss National Bank now owns 81,700 shares of the company's stock worth $1,937,000 after buying an additional 1,900 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Symbotic by 1.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company's stock worth $1,154,000 after buying an additional 619 shares in the last quarter.
Symbotic Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Symbotic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Symbotic wasn't on the list.
While Symbotic currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
