Symbotic (NASDAQ:SYM) Trading Up 1%

Symbotic Inc. (NASDAQ:SYM) shares shot up 1% during trading on Thursday . The company traded as high as $33.17 and last traded at $32.89. 219,231 shares traded hands during trading, a decline of 84% from the average session volume of 1,379,158 shares. The stock had previously closed at $32.56.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SYM shares. Robert W. Baird increased their price target on Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft raised their target price on Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Craig Hallum upped their price target on Symbotic from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Northland Securities lifted their price objective on shares of Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $54.00 price objective on shares of Symbotic in a report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.69.

Symbotic Trading Down 0.1 %

The company’s 50-day moving average price is $39.54 and its 200-day moving average price is $43.21.

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

Insider Activity

In other news, major shareholder David A. Ladensohn sold 50,000 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $40.89, for a total value of $2,044,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder David A. Ladensohn sold 50,000 shares of the company’s stock in a transaction that occurred on 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 SEC, which is available at this hyperlink. Also, insider William M. Boyd III sold 8,825 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $40.34, for a total value of $356,000.50. Following the transaction, the insider now owns 23,012 shares in the company, valued at approximately $928,304.08. The disclosure for this sale can be found here. Insiders sold a total of 150,214 shares of company stock valued at $6,030,760 over the last three months. Insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently bought and sold shares of SYM. LPL Financial LLC grew its holdings in shares of Symbotic by 578.0% during the 3rd quarter. LPL Financial LLC now owns 102,059 shares of the company’s stock worth $3,412,000 after purchasing an additional 87,006 shares in the last quarter. Quadrature Capital Ltd bought a new position in Symbotic in the 4th quarter valued at about $1,669,000. Seven Eight Capital LP acquired a new position in shares of Symbotic in the 4th quarter valued at approximately $2,568,000. UBS Group AG lifted its holdings in shares of 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 acquiring an additional 14,170 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Symbotic during the 4th quarter worth approximately $2,302,000.

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.