Symbotic Target of Unusually Large Options Trading (NASDAQ:SYM)

Symbotic Inc. (NASDAQ:SYM - Get Free Report) was the recipient of some unusual options trading on Thursday. Investors acquired 14,612 call options on the stock. This represents an increase of approximately 41% compared to the average daily volume of 10,333 call options.

Symbotic Stock Down 6.5 %

Shares of NASDAQ:SYM traded down $2.06 on Friday, hitting $29.76. 4,186,179 shares of the company traded hands, compared to its average volume of 2,855,100. The stock has a 50 day simple moving average of $27.96 and a 200-day simple moving average of $27.55. The company has a market cap of $17.48 billion, a PE ratio of -496.00 and a beta of 1.76. Symbotic has a 52 week low of $17.11 and a 52 week high of $52.20.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting analysts' consensus estimates of $0.05. The business had revenue of $576.77 million during the quarter, compared to analyst estimates of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. Symbotic's revenue was up 47.2% compared to the same quarter last year. During the same period last year, the business earned ($0.08) EPS. As a group, sell-side analysts anticipate that Symbotic will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Symbotic

In other Symbotic news, insider Michael David Dunn sold 1,715 shares of the business's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $28.77, for a total value of $49,340.55. Following the transaction, the insider now owns 87,922 shares in the company, valued at approximately $2,529,515.94. The trade was a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Carol J. Hibbard sold 22,821 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total transaction of $660,896.16. Following the transaction, the chief financial officer now directly owns 34,188 shares of the company's stock, valued at approximately $990,084.48. This trade represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,844 shares of company stock worth $3,268,431. 38.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently added to or reduced their stakes in SYM. Canada Pension Plan Investment Board increased its holdings in shares of Symbotic by 191.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company's stock worth $27,281,000 after purchasing an additional 509,700 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Symbotic by 10.2% during the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company's stock valued at $12,290,000 after buying an additional 46,721 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Symbotic in the 3rd quarter worth about $1,029,000. Capital Market Strategies LLC purchased a new position in Symbotic in the 4th quarter worth about $802,000. Finally, Baillie Gifford & Co. raised its position in Symbotic by 32.0% in the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company's stock worth $343,192,000 after buying an additional 3,410,050 shares during the last quarter.

Analyst Ratings Changes

Several research firms have recently issued reports on SYM. UBS Group reduced their target price on Symbotic from $40.00 to $32.00 and set a "neutral" rating on the stock in a research note on Friday, January 3rd. Needham & Company LLC reissued a "buy" rating and set a $35.00 price objective on shares of Symbotic in a research report on Friday. Craig Hallum lowered shares of Symbotic from a "buy" rating to a "hold" rating and set a $25.00 price objective for the company. in a report on Wednesday, November 27th. DA Davidson raised shares of Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a research note on Wednesday, January 8th. Finally, Citigroup reissued a "buy" rating and issued a $37.00 price target on shares of Symbotic in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $38.73.

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.