Symbotic (NASDAQ:SYM) Trading 1% Higher

Symbotic Inc. (NASDAQ:SYM)’s stock price traded up 1% on Thursday . The company traded as high as $45.74 and last traded at $45.68. 236,361 shares were traded during trading, a decline of 85% from the average session volume of 1,581,150 shares. The stock had previously closed at $45.23.

Analyst Ratings Changes

SYM has been the subject of several recent analyst reports. Robert W. Baird dropped their price objective on Symbotic from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Tuesday, February 6th. The Goldman Sachs Group decreased their price target on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. William Blair reissued a “market perform” rating on shares of Symbotic in a research note on Tuesday, February 6th. KeyCorp decreased their target price on Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Finally, Needham & Company LLC decreased their target price on Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.85.

Symbotic Price Performance

The stock has a fifty day moving average of $43.76 and a 200 day moving average of $42.78. The firm has a market capitalization of $25.97 billion, a P/E ratio of -169.19 and a beta of 1.90.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. The business had revenue of $368.45 million during the quarter, compared to the consensus estimate of $370.28 million. Equities analysts forecast that Symbotic Inc. will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Merline Saintil sold 3,135 shares of Symbotic stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $44.74, for a total value of $140,259.90. Following the completion of the transaction, the director now directly owns 62,312 shares in the company, valued at $2,787,838.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Merline Saintil sold 3,135 shares of Symbotic stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $44.74, for a total transaction of $140,259.90. Following the completion of the sale, the director now owns 62,312 shares of the company’s stock, valued at $2,787,838.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction on Friday, March 1st. The shares were sold at an average price of $39.39, for a total value of $78,780.00. Following the sale, the director now directly owns 10,447 shares of the company’s stock, valued at approximately $411,507.33. The disclosure for this sale can be found here. Insiders sold 7,328,104 shares of company stock valued at $285,346,932 over the last ninety days. 38.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Symbotic

Hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp bought a new position in shares of Symbotic during the fourth quarter valued at $26,000. Rockefeller Capital Management L.P. bought a new position in shares of Symbotic during the fourth quarter worth $29,000. Providence Capital Advisors LLC bought a new position in Symbotic during the third quarter valued at $33,000. National Bank of Canada FI lifted its holdings in shares of Symbotic by 66.7% in the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock worth $35,000 after acquiring an additional 400 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Symbotic by 1,412.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,512 shares of the company’s stock worth $35,000 after acquiring an additional 1,412 shares during the last quarter.

Symbotic Company Profile

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.