Symbotic Inc. (NASDAQ:SYM - Get Free Report) was down 4.8% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $27.61 and last traded at $27.71. Approximately 386,867 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 2,551,775 shares. The stock had previously closed at $29.11.
Specifically, Director Todd Krasnow sold 10,447 shares of Symbotic stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $27.05, for a total transaction of $282,591.35. Following the completion of the transaction, the director now directly owns 194,036 shares in the company, valued at $5,248,673.80. The trade was a 5.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the company. DA Davidson upgraded Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a research report on Wednesday, January 8th. Oppenheimer assumed coverage on Symbotic in a research report on Wednesday, January 15th. They set an "outperform" rating and a $35.00 price objective for the company. KeyCorp restated a "sector weight" rating on shares of Symbotic in a research report on Wednesday, November 27th. TD Cowen lifted their target price on shares of Symbotic from $43.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Finally, William Blair reaffirmed a "market perform" rating on shares of Symbotic in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $38.33.
Check Out Our Latest Research Report on SYM
Symbotic Stock Performance
The firm has a market cap of $15.90 billion, a price-to-earnings ratio of -386.52, a price-to-earnings-growth ratio of 6.45 and a beta of 1.79. The company's fifty day moving average is $27.30 and its two-hundred day moving average is $26.39.
Symbotic (NASDAQ:SYM - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. As a group, analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Symbotic
A number of institutional investors have recently added to or reduced their stakes in the company. Castleview Partners LLC lifted its holdings in Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company's stock worth $37,000 after buying an additional 500 shares in the last quarter. IFP Advisors Inc lifted its holdings in Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after buying an additional 503 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Symbotic by 1.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company's stock worth $1,154,000 after buying an additional 619 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Symbotic by 28.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,497 shares of the company's stock worth $85,000 after buying an additional 774 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in Symbotic by 36.8% in the 3rd quarter. National Bank of Canada FI now owns 3,557 shares of the company's stock worth $87,000 after buying an additional 957 shares in the last quarter.
About Symbotic
(
Get Free Report)
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.
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