Symbotic (NASDAQ:SYM) Trading 1.5% Higher – What’s Next?

Shares of Symbotic Inc. (NASDAQ:SYM) traded up 1.5% during trading on Tuesday . The company traded as high as $34.00 and last traded at $33.40. 581,065 shares were traded during mid-day trading, a decline of 70% from the average session volume of 1,968,038 shares. The stock had previously closed at $32.89.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. The Goldman Sachs Group cut their price objective on shares of Symbotic from $25.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. BWS Financial reissued a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a research report on Wednesday, April 2nd. UBS Group cut their price objective on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Finally, Citigroup cut their price objective on shares of Symbotic from $37.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $37.20.

Symbotic Stock Up 1.1%

The stock has a market capitalization of $19.60 billion, a price-to-earnings ratio of -831.25, a P/E/G ratio of 56.67 and a beta of 1.95. The company’s fifty day simple moving average is $26.62 and its 200 day simple moving average is $25.44.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). Symbotic had a negative net margin of 0.23% and a negative return on equity of 1.26%. The company had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. Symbotic’s revenue for the quarter was up 39.7% on a year-over-year basis. As a group, analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current year.

Insider Activity at Symbotic

In related news, insider Michael David Dunn sold 2,040 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.24, for a total value of $45,369.60. Following the transaction, the insider now directly owns 23,822 shares in the company, valued at approximately $529,801.28. This represents a 7.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William M. Boyd III sold 2,455 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $31.07, for a total transaction of $76,276.85. Following the completion of the transaction, the insider now owns 34,544 shares in the company, valued at $1,073,282.08. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,056 shares of company stock worth $1,198,707. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Symbotic by 41.3% during the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock worth $117,846,000 after buying an additional 1,452,627 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Symbotic during the fourth quarter worth about $20,754,000. Cetera Investment Advisers lifted its holdings in shares of Symbotic by 5.7% in the fourth quarter. Cetera Investment Advisers now owns 24,621 shares of the company’s stock worth $584,000 after acquiring an additional 1,332 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Symbotic by 23.7% in the fourth quarter. Northern Trust Corp now owns 110,148 shares of the company’s stock worth $2,612,000 after acquiring an additional 21,077 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Symbotic by 154.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock worth $58,000 after acquiring an additional 1,490 shares during the last quarter.

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.