Symbotic (NASDAQ:SYM) Shares Down 0.6%

Symbotic Inc. (NASDAQ:SYM)’s stock price was down 0.6% on Thursday . The company traded as low as $41.02 and last traded at $41.70. Approximately 192,141 shares changed hands during trading, a decline of 87% from the average daily volume of 1,443,759 shares. The stock had previously closed at $41.96.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SYM. The Goldman Sachs Group reduced their price target on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. DA Davidson upgraded Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a report on Wednesday, February 7th. William Blair reiterated a “market perform” rating on shares of Symbotic in a research report on Tuesday, February 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a research report on Tuesday, February 6th. Finally, 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. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Symbotic has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Symbotic Trading Down 0.9 %

The stock has a fifty day moving average of $43.63 and a 200-day moving average of $44.00.

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

Insider Activity at Symbotic

In other news, major shareholder David A. Ladensohn sold 2,085,296 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $39.69, for a total transaction of $82,765,398.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Ladensohn sold 2,085,296 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $39.69, for a total transaction of $82,765,398.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,188,628 shares of company stock worth $279,026,777. Company insiders own 38.30% of the company’s stock.

Institutional Trading of Symbotic

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Sense Advisors Inc. purchased a new position in shares of Symbotic in the 1st quarter valued at approximately $247,000. Taylor Frigon Capital Management LLC raised its holdings in shares of Symbotic by 7.0% in the first quarter. Taylor Frigon Capital Management LLC now owns 66,962 shares of the company’s stock worth $3,013,000 after buying an additional 4,400 shares during the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of Symbotic during the first quarter worth $302,000. First Dallas Securities Inc. grew its holdings in shares of Symbotic by 60.8% during the first quarter. First Dallas Securities Inc. now owns 19,300 shares of the company’s stock valued at $869,000 after buying an additional 7,300 shares during the last quarter. Finally, Register Financial Advisors LLC increased its position in shares of Symbotic by 124.0% in the 1st quarter. Register Financial Advisors LLC now owns 11,200 shares of the company’s stock valued at $504,000 after acquiring an additional 6,200 shares during the period.

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.