Symbotic (NASDAQ:SYM) Trading 1.7% Higher

Symbotic Inc. (NASDAQ:SYM) traded up 1.7% during mid-day trading on Friday . The company traded as high as $40.61 and last traded at $40.21. 222,294 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,405,605 shares. The stock had previously closed at $39.55.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Needham & Company LLC reduced their price target on shares of Symbotic from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. 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 report on Wednesday, February 7th. William Blair restated a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a report on Tuesday, February 6th. Finally, The Goldman Sachs Group reduced their target price 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. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Symbotic presently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Symbotic Trading Up 1.6 %

The business’s 50 day moving average is $43.13 and its 200 day moving average is $44.27. The stock has a market capitalization of $23.19 billion, a PE ratio of -148.85 and a beta of 1.91.

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

Insider Buying and Selling at Symbotic

In other Symbotic news, insider Richard B. Cohen sold 5,000,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Symbotic news, insider Michael David Dunn sold 7,051 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $45.00, for a total value of $317,295.00. Following the completion of the sale, the insider now directly owns 65,646 shares of the company’s stock, valued at approximately $2,954,070. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Richard B. Cohen sold 5,000,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $38.32, for a total transaction of $191,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 7,108,673 shares of company stock valued at $275,394,824 in the last three months. Company insiders own 38.30% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Symbotic by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 2,081,034 shares of the company’s stock valued at $106,819,000 after purchasing an additional 40,699 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Symbotic by 189.5% in the 4th quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock valued at $54,174,000 after purchasing an additional 690,900 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Symbotic by 6.3% in the 1st quarter. Raymond James & Associates now owns 616,391 shares of the company’s stock valued at $27,738,000 after purchasing an additional 36,515 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Symbotic by 44.0% in the 4th quarter. First Trust Advisors LP now owns 510,237 shares of the company’s stock valued at $26,190,000 after purchasing an additional 155,828 shares in the last quarter. Finally, S Squared Technology LLC raised its holdings in shares of Symbotic by 3.8% in the 4th quarter. S Squared Technology LLC now owns 270,000 shares of the company’s stock valued at $13,859,000 after purchasing an additional 10,000 shares in 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.