Symbotic (NASDAQ:SYM) Stock Price Down 5.4% - Time to Sell?

Symbotic Inc. (NASDAQ:SYM - Get Free Report)'s share price dropped 5.4% on Tuesday . The company traded as low as $28.97 and last traded at $28.60. Approximately 267,313 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,651,911 shares. The stock had previously closed at $30.24.

Wall Street Analysts Forecast Growth

SYM has been the topic of a number of research reports. The Goldman Sachs Group decreased their price target on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a research note 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. Citigroup reduced their price target on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, UBS Group reduced their price target on shares of Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $37.20.

Symbotic Trading Down 0.1%

The company has a market capitalization of $16.49 billion, a P/E ratio of -399.51, a P/E/G ratio of 6.48 and a beta of 1.95. The business's 50-day simple moving average is $25.01 and its 200 day simple moving average is $25.13.

Symbotic (NASDAQ:SYM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm had revenue of $549.65 million during the quarter, compared to analysts' expectations of $522.36 million. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. The business's revenue was up 39.7% on a year-over-year basis. During the same period last year, the business earned ($0.07) earnings per share. As a group, sell-side analysts predict that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Insider Activity at Symbotic

In other news, insider William M. Boyd III sold 2,660 shares of Symbotic stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $20.62, for a total transaction of $54,849.20. Following the completion of the sale, the insider now owns 36,999 shares in the company, valued at $762,919.38. The trade was a 6.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $30.63, for a total transaction of $122,520.00. Following the sale, the director now owns 189,036 shares of the company's stock, valued at approximately $5,790,172.68. This represents a 2.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,056 shares of company stock worth $1,147,201 in the last ninety days. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SYM. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Symbotic by 15.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company's stock valued at $1,716,000 after buying an additional 11,098 shares in the last quarter. S Squared Technology LLC raised its holdings in shares of Symbotic by 6.7% in the first quarter. S Squared Technology LLC now owns 480,000 shares of the company's stock valued at $9,701,000 after purchasing an additional 30,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Symbotic by 16.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,343,902 shares of the company's stock valued at $27,155,000 after purchasing an additional 187,538 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Symbotic by 36.7% during the first quarter. Advisors Asset Management Inc. now owns 35,261 shares of the company's stock worth $713,000 after buying an additional 9,459 shares during the last quarter. Finally, Amundi increased its holdings in Symbotic by 53.0% during the first quarter. Amundi now owns 72,192 shares of the company's stock worth $1,459,000 after buying an additional 24,993 shares during the last quarter.

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.