Symbotic (NASDAQ:SYM) Shares Down 0.2%

Shares of Symbotic Inc. (NASDAQ:SYM) traded down 0.2% on Monday . The company traded as low as $32.16 and last traded at $32.45. 192,815 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,384,102 shares. The stock had previously closed at $32.53.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. William Blair restated a “market perform” rating on shares of Symbotic in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft boosted 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. Needham & Company LLC reiterated a “buy” rating and issued a $54.00 target price on shares of Symbotic in a report on Tuesday, May 7th. Robert W. Baird boosted their target price on shares of Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Finally, Northland Securities boosted 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.69.

Symbotic Stock Performance

The firm’s 50 day moving average is $39.92 and its two-hundred day moving average is $43.45. The stock has a market capitalization of $19.04 billion, a PE ratio of -134.70 and a beta of 1.92.

Symbotic (NASDAQ:SYM) last announced 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 negative net margin of 1.27% and a positive return on equity of 5.27%. The firm had revenue of $424.30 million for the quarter, compared to the consensus estimate of $415.98 million. On average, analysts anticipate that Symbotic Inc. will post -0.07 EPS for the current year.

Insider Buying and Selling at Symbotic

In other Symbotic news, insider Michael David Dunn sold 1,200 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $44.02, for a total value of $52,824.00. Following the sale, the insider now directly owns 70,832 shares of the company’s stock, valued at approximately $3,118,024.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Rollin L. Ford sold 49,998 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $37.29, for a total value of $1,864,425.42. Following the transaction, the director now directly owns 10,447 shares of the company’s stock, valued at approximately $389,568.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael David Dunn sold 1,200 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $44.02, for a total transaction of $52,824.00. Following the completion of the transaction, the insider now directly owns 70,832 shares in the company, valued at $3,118,024.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 150,214 shares of company stock valued at $6,030,760. Insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its stake in Symbotic by 195.5% during the 3rd quarter. Barclays PLC now owns 8,008 shares of the company’s stock worth $268,000 after purchasing an additional 5,298 shares during the period. Swiss National Bank boosted its stake in Symbotic by 3.0% during the 3rd quarter. Swiss National Bank now owns 33,800 shares of the company’s stock worth $1,130,000 after purchasing an additional 1,000 shares during the period. UBS Group AG boosted its stake in Symbotic by 14.6% during the 3rd quarter. UBS Group AG now owns 110,951 shares of the company’s stock worth $3,709,000 after purchasing an additional 14,170 shares during the period. PNC Financial Services Group Inc. boosted its stake in Symbotic by 779.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,832 shares of the company’s stock worth $362,000 after purchasing an additional 9,600 shares during the period. Finally, Dark Forest Capital Management LP boosted its stake in Symbotic by 51.9% during the 3rd quarter. Dark Forest Capital Management LP now owns 18,210 shares of the company’s stock worth $609,000 after purchasing an additional 6,219 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.