Symbotic (NASDAQ:SYM) Trading Up 0.4%

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

Analyst Ratings Changes

Several research analysts have commented on the company. Northland Securities lifted their price target on Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Craig Hallum increased their price target on shares of Symbotic from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. William Blair restated a “market perform” rating on shares of Symbotic in a report on Friday, May 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $54.00 target price on shares of Symbotic in a research note on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Symbotic has an average rating of “Moderate Buy” and an average price target of $57.00.

Symbotic Stock Performance

The company has a 50-day moving average of $39.54 and a 200 day moving average of $43.12. The firm has a market cap of $20.63 billion, a P/E ratio of -147.04 and a beta of 1.87.

Symbotic (NASDAQ:SYM) last issued its earnings results on Monday, May 6th. The company reported $0.22 EPS for the quarter, beating 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 company had revenue of $424.30 million for the quarter, compared to the consensus estimate of $415.98 million. Sell-side analysts anticipate that Symbotic Inc. will post -0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Symbotic news, insider Michael David Dunn sold 1,200 shares of Symbotic stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $44.02, for a total value of $52,824.00. Following the completion of the transaction, the insider now owns 70,832 shares in the company, valued at approximately $3,118,024.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $42.20, for a total transaction of $84,400.00. Following the transaction, the director now directly owns 10,447 shares in the company, valued at $440,863.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael David Dunn sold 1,200 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 70,832 shares of the company’s stock, valued at approximately $3,118,024.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 150,214 shares of company stock valued at $6,030,760. 38.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp bought a new position in shares of Symbotic in the 4th quarter valued at about $26,000. RiverPark Advisors LLC acquired a new position in Symbotic in the first quarter valued at approximately $37,000. Global Retirement Partners LLC boosted its stake in Symbotic by 166.7% in the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock valued at $48,000 after acquiring an additional 660 shares during the last quarter. Pingora Partners LLC acquired a new stake in Symbotic during the 4th quarter worth $51,000. Finally, Centerpoint Advisors LLC bought a new stake in shares of Symbotic during the 4th quarter valued at $62,000.

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.