Symbotic (NASDAQ:SYM) Trading 1.3% Higher

Symbotic Inc. (NASDAQ:SYM)’s share price was up 1.3% on Tuesday . The stock traded as high as $36.50 and last traded at $35.95. Approximately 141,515 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,380,358 shares. The stock had previously closed at $35.48.

Analysts Set New Price Targets

SYM has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price target on Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Craig Hallum lifted their price target on shares of Symbotic from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price objective on shares of Symbotic in a research note on Tuesday, May 7th. Robert W. Baird raised their price target on Symbotic from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Finally, William Blair reissued a “market perform” rating on shares of Symbotic in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.00.

Symbotic Stock Performance

The stock’s 50-day moving average is $39.27 and its 200-day moving average is $42.84.

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

Insider Activity

In other Symbotic news, major shareholder David A. Ladensohn sold 50,000 shares of the business’s stock in a transaction on 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 is accessible through the SEC website. In other news, insider William M. Boyd III sold 8,825 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $40.34, for a total value of $356,000.50. Following the sale, the insider now owns 23,012 shares of the company’s stock, valued at approximately $928,304.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Ladensohn sold 50,000 shares of the company’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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 151,958 shares of company stock worth $6,050,192. Company insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. LPL Financial LLC lifted its stake in shares of Symbotic by 578.0% during the third quarter. LPL Financial LLC now owns 102,059 shares of the company’s stock valued at $3,412,000 after acquiring an additional 87,006 shares during the period. Natixis Advisors L.P. bought a new stake in shares of Symbotic during the third quarter worth approximately $352,000. Adage Capital Partners GP L.L.C. bought a new position in Symbotic in the third quarter valued at approximately $3,147,000. Willis Johnson & Associates Inc. acquired a new stake in shares of Symbotic during the fourth quarter worth $257,000. Finally, SG Americas Securities LLC bought a new stake in Symbotic in the fourth quarter valued at about $136,000.

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.