Symbotic (NASDAQ:SYM) Trading 1.3% Higher

Symbotic Inc. (NASDAQ:SYM) shot up 1.3% during trading on Tuesday . The company traded as high as $36.50 and last traded at $35.95. 141,515 shares changed hands during trading, a decline of 90% from the average session volume of 1,380,358 shares. The stock had previously closed at $35.48.

Wall Street Analyst Weigh In

Several analysts have recently commented on SYM shares. Deutsche Bank Aktiengesellschaft increased their target price on Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. William Blair reissued a “market perform” rating on shares of Symbotic in a report on Friday, May 10th. Northland Securities lifted their price target on shares of Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Symbotic in a research note on Tuesday, May 7th. Finally, Craig Hallum increased their target price on Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Symbotic Stock Performance

The business has a fifty day moving average of $39.27 and a two-hundred day moving average of $42.84.

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

Insider Transactions at Symbotic

In other Symbotic news, insider Michael David Dunn sold 5,188 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total transaction of $184,122.12. Following the completion of the sale, the insider now directly owns 76,808 shares in the company, valued at $2,725,915.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Michael David Dunn sold 5,188 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total transaction of $184,122.12. Following the completion of the transaction, the insider now directly owns 76,808 shares in the company, valued at $2,725,915.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Ladensohn sold 50,000 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. In the last three months, insiders have sold 151,958 shares of company stock valued at $6,050,192. 38.30% of the stock is owned by corporate insiders.

Institutional Trading of Symbotic

Several institutional investors and hedge funds have recently modified their holdings of SYM. Baillie Gifford & Co. bought a new stake in Symbotic during the first quarter worth $426,752,000. 1832 Asset Management L.P. boosted its holdings in shares of Symbotic by 189.5% in the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock worth $54,174,000 after acquiring an additional 690,900 shares during the period. Vanguard Group Inc. raised its stake in shares of Symbotic by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after purchasing an additional 345,386 shares during the period. Zevenbergen Capital Investments LLC boosted its stake in Symbotic by 1,826.2% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 361,167 shares of the company’s stock worth $16,253,000 after purchasing an additional 342,417 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in Symbotic during the 1st quarter valued at about $12,219,000.

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.