Symbotic (NASDAQ:SYM) Trading 1.5% Higher - Still a Buy?

Symbotic Inc. (NASDAQ:SYM - Get Free Report) traded up 1.5% during mid-day trading on Tuesday . The stock traded as high as $34.00 and last traded at $33.40. 581,065 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 1,968,038 shares. The stock had previously closed at $32.89.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup decreased 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. BWS Financial restated a "sell" rating and issued a $10.00 price target on shares of Symbotic in a research report on Wednesday, April 2nd. 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 report on Thursday, April 10th. Finally, UBS Group reduced their price objective on shares of Symbotic from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $37.20.

Symbotic Stock Performance

The firm's 50-day moving average price is $26.62 and its 200 day moving average price is $25.44. The company has a market cap of $19.60 billion, a price-to-earnings ratio of -831.25, a PEG ratio of 56.67 and a beta of 1.95.

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

Insider Transactions at Symbotic

In related news, CFO Carol J. Hibbard sold 4,628 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $22.62, for a total transaction of $104,685.36. Following the completion of the transaction, the chief financial officer now owns 54,011 shares in the company, valued at approximately $1,221,728.82. The trade was a 7.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael David Dunn sold 2,040 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $22.24, for a total transaction of $45,369.60. Following the transaction, the insider now owns 23,822 shares of the company's stock, valued at approximately $529,801.28. This represents a 7.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,056 shares of company stock worth $1,198,707 in the last quarter. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. 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 lifted its stake in 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 buying an additional 30,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 buying an additional 187,538 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Symbotic by 36.7% in the first quarter. Advisors Asset Management Inc. now owns 35,261 shares of the company's stock valued at $713,000 after buying an additional 9,459 shares in the last quarter. Finally, Amundi lifted its stake in Symbotic by 53.0% in the first quarter. Amundi now owns 72,192 shares of the company's stock valued at $1,459,000 after buying an additional 24,993 shares in 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.

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