Symbotic Inc. (NASDAQ:SYM – Get Free Report) shares fell 2% on Monday . The company traded as low as $43.81 and last traded at $44.44. 521,504 shares were traded during trading, a decline of 69% from the average session volume of 1,671,994 shares. The stock had previously closed at $45.36.
Wall Street Analyst Weigh In
Several brokerages have commented on SYM. William Blair reiterated a “market perform” rating on shares of Symbotic in a research note on Tuesday, February 6th. Robert W. Baird reduced their target price on shares of Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Needham & Company LLC reduced their target price 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. KeyCorp reduced their target price on shares of Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price target on shares of Symbotic 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $52.85.
Symbotic Stock Performance
The stock has a 50 day simple moving average of $43.07 and a two-hundred day simple moving average of $42.40. The firm has a market cap of $26.04 billion, a PE ratio of -167.59 and a beta of 1.90.
Symbotic (NASDAQ:SYM – Get Free Report) last released its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. The business had revenue of $368.45 million during the quarter, compared to analyst estimates of $370.28 million. Equities research analysts forecast that Symbotic Inc. will post -0.02 earnings per share for the current year.
Insider Buying and Selling
In other news, insider Richard B. Cohen sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $38.32, for a total transaction of $191,600,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $50.49, for a total value of $100,980.00. The transaction was disclosed in a legal 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 that occurred on Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,324,969 shares of company stock worth $285,206,672. Insiders own 38.30% of the company’s stock.
Hedge Funds Weigh In On Symbotic
Several large investors have recently bought and sold shares of SYM. JPMorgan Chase & Co. purchased a new position in Symbotic in the second quarter valued at $534,000. UBS Group AG acquired a new stake in shares of Symbotic during the third quarter worth about $224,000. BlackRock Inc. boosted its stake in shares of Symbotic by 325.5% during the third quarter. BlackRock Inc. now owns 170,213 shares of the company’s stock worth $1,958,000 after buying an additional 130,213 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Symbotic during the third quarter worth about $181,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Symbotic during the third quarter worth about $1,523,000.
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.