Symbotic (NASDAQ:SYM) Trading Down 0.9%

Symbotic Inc. (NASDAQ:SYM)’s share price was down 0.9% during mid-day trading on Tuesday . The stock traded as low as $39.51 and last traded at $40.25. Approximately 281,937 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,455,086 shares. The stock had previously closed at $40.61.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Wednesday, February 7th. Robert W. Baird decreased their price target on shares of Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. William Blair reiterated a “market perform” rating on shares of Symbotic in a research note on Tuesday, February 6th. Needham & Company LLC cut their price objective on Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Finally, KeyCorp cut their price target on Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Symbotic has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Symbotic Trading Up 1.2 %

The stock has a market cap of $23.71 billion, a P/E ratio of -149.07 and a beta of 1.91. The company has a 50 day simple moving average of $43.71 and a 200 day simple moving average of $43.96.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data 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 company had revenue of $368.45 million for the quarter, compared to analysts’ expectations of $370.28 million. As a group, sell-side analysts expect that Symbotic Inc. will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $51.50, for a total transaction of $103,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $51.50, for a total transaction of $103,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael David Dunn sold 74,198 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $45.69, for a total value of $3,390,106.62. Following the sale, the insider now directly owns 62,624 shares in the company, valued at $2,861,290.56. The disclosure for this sale can be found here. Insiders have sold a total of 7,188,628 shares of company stock valued at $279,026,777 in the last ninety days. 38.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Symbotic

Several large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in shares of Symbotic by 23.2% during the second quarter. PNC Financial Services Group Inc. now owns 1,232 shares of the company’s stock worth $53,000 after acquiring an additional 232 shares during the last quarter. Taylor Frigon Capital Management LLC grew its stake in Symbotic by 0.5% during the third quarter. Taylor Frigon Capital Management LLC now owns 63,576 shares of the company’s stock worth $2,125,000 after purchasing an additional 336 shares during the period. California State Teachers Retirement System grew its stake in Symbotic by 3.0% during the third quarter. California State Teachers Retirement System now owns 13,641 shares of the company’s stock worth $456,000 after purchasing an additional 399 shares during the period. National Bank of Canada FI grew its stake in Symbotic by 66.7% during the third quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock worth $35,000 after purchasing an additional 400 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Symbotic by 8.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,875 shares of the company’s stock worth $250,000 after purchasing an additional 400 shares during the period.

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.