Symbotic (NASDAQ:SYM) Trading Up 0.4%

Symbotic Inc. (NASDAQ:SYM)’s share price shot up 0.4% during trading on Monday . The company traded as high as $35.65 and last traded at $35.29. 337,124 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 1,383,827 shares. The stock had previously closed at $35.16.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SYM shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Craig Hallum boosted their price target on Symbotic from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research report on Friday, May 10th. Robert W. Baird boosted their target price on Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Finally, Northland Securities increased their price target on Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.00.

Symbotic Stock Up 0.4 %

The firm’s 50 day moving average is $39.54 and its 200-day moving average is $43.12. The firm has a market cap of $20.63 billion, a PE ratio of -147.04 and a beta of 1.87.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.25. The company had revenue of $424.30 million for the quarter, compared to analyst estimates of $415.98 million. Symbotic had a positive return on equity of 5.27% and a negative net margin of 1.27%. On average, analysts forecast that Symbotic Inc. will post -0.07 earnings per share for the current year.

Insider Activity at Symbotic

In other news, Director Rollin L. Ford sold 49,998 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $37.29, for a total transaction of $1,864,425.42. Following the completion of the sale, the director now directly owns 10,447 shares in the company, valued at approximately $389,568.63. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Rollin L. Ford sold 49,998 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $37.29, for a total transaction of $1,864,425.42. Following the completion of the sale, the director now owns 10,447 shares in the company, valued at approximately $389,568.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $39.79, for a total transaction of $79,580.00. Following the completion of the transaction, the director now owns 214,036 shares in the company, valued at approximately $8,516,492.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 150,214 shares of company stock worth $6,030,760. 38.30% of the stock is owned by company insiders.

Institutional Trading of Symbotic

Large investors have recently bought and sold shares of the company. RFP Financial Group LLC grew its stake in shares of Symbotic by 21.2% during the first quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock valued at $62,000 after acquiring an additional 242 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Symbotic by 11.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $123,000 after purchasing an additional 284 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Symbotic by 8.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,875 shares of the company’s stock valued at $250,000 after purchasing an additional 400 shares in the last quarter. Natixis Advisors L.P. increased its holdings in Symbotic by 4.3% during the 4th quarter. Natixis Advisors L.P. now owns 10,983 shares of the company’s stock worth $563,000 after purchasing an additional 456 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new position in shares of Symbotic in the 4th quarter valued at approximately $26,000.

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.