Symbotic (NASDAQ:SYM) Trading Up 2.6%

Shares of Symbotic Inc. (NASDAQ:SYM) were up 2.6% on Monday . The company traded as high as $37.85 and last traded at $36.75. Approximately 280,078 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,364,147 shares. The stock had previously closed at $35.81.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SYM shares. Craig Hallum raised their target price on shares of Symbotic from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. The Goldman Sachs Group cut their target price on shares of Symbotic from $46.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday. Northland Securities raised their target price on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price objective on shares of Symbotic in a research note on Tuesday, May 7th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.67.

Symbotic Price Performance

The firm has a market capitalization of $21.34 billion, a P/E ratio of -149.37 and a beta of 1.87. The firm has a 50-day moving average price of $39.03 and a two-hundred day moving average price of $42.26.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, May 6th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.25. Symbotic had a positive return on equity of 5.27% and a negative net margin of 1.27%. The business had revenue of $424.30 million during the quarter, compared to the consensus estimate of $415.98 million. Sell-side analysts predict that Symbotic Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Activity at Symbotic

In related news, major shareholder David A. Ladensohn sold 50,000 shares of Symbotic stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $40.89, for a total value of $2,044,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder David A. Ladensohn sold 50,000 shares of Symbotic stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $40.89, for a total value of $2,044,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael David Dunn sold 1,200 shares of Symbotic stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $44.02, for a total value of $52,824.00. Following the completion of the sale, the insider now owns 70,832 shares of the company’s stock, valued at $3,118,024.64. The disclosure for this sale can be found here. Insiders sold 149,958 shares of company stock worth $5,965,792 over the last three months. 38.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Symbotic

Large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp bought a new position in Symbotic in the fourth quarter worth about $26,000. RiverPark Advisors LLC purchased a new stake in shares of Symbotic during the first quarter worth about $37,000. Pingora Partners LLC purchased a new stake in shares of Symbotic during the fourth quarter worth about $51,000. Global Retirement Partners LLC grew its stake in shares of Symbotic by 166.7% during the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after acquiring an additional 660 shares during the last quarter. Finally, Centerpoint Advisors LLC purchased a new stake in shares of Symbotic during the fourth quarter worth about $62,000.

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.