Symbotic (NASDAQ:SYM) Shares Up 0.5%

Symbotic Inc. (NASDAQ:SYM)’s stock price traded up 0.5% during trading on Friday . The company traded as high as $36.38 and last traded at $35.37. 362,831 shares traded hands during trading, a decline of 74% from the average session volume of 1,384,275 shares. The stock had previously closed at $35.20.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SYM shares. Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price target on shares of Symbotic in a report on Tuesday, May 7th. Craig Hallum raised 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 Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Robert W. Baird increased their target price on shares of Symbotic from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Symbotic Price Performance

The company has a market cap of $20.56 billion, a PE ratio of -146.49 and a beta of 1.92. The stock’s 50-day moving average is $39.54 and its 200 day moving average is $43.17.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data 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 positive return on equity of 5.27% and a negative net margin of 1.27%. The firm had revenue of $424.30 million during the quarter, compared to analyst estimates of $415.98 million. On average, analysts expect that Symbotic Inc. will post -0.07 EPS for the current year.

Insider Transactions at Symbotic

In other Symbotic 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 shares were sold at an average price of $40.89, for a total transaction of $2,044,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Symbotic news, major shareholder David A. Ladensohn sold 50,000 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $40.89, for a total transaction of $2,044,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rollin L. Ford sold 49,998 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $37.29, for a total value of $1,864,425.42. Following the completion of the transaction, the director now owns 10,447 shares of the company’s stock, valued at $389,568.63. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 150,214 shares of company stock worth $6,030,760. Insiders own 38.30% of the company’s stock.

Institutional Trading of Symbotic

Several large investors have recently made changes to their positions in SYM. Van ECK Associates Corp purchased a new stake in Symbotic in the 4th quarter worth approximately $26,000. RiverPark Advisors LLC acquired a new stake in Symbotic during the first quarter valued at $37,000. Global Retirement Partners LLC grew its position in Symbotic by 166.7% during the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock valued at $48,000 after buying an additional 660 shares during the period. Pingora Partners LLC purchased a new position in Symbotic in the fourth quarter valued at $51,000. Finally, Centerpoint Advisors LLC acquired a new position in shares of Symbotic in 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.