Symbotic (NASDAQ:SYM) Shares Down 5.9% – Should You Sell?

Symbotic Inc. (NASDAQ:SYM) traded down 5.9% on Friday . The stock traded as low as $31.81 and last traded at $31.54. 1,197,163 shares changed hands during trading, a decline of 54% from the average session volume of 2,624,692 shares. The stock had previously closed at $33.50.

Analysts Set New Price Targets

SYM has been the topic of several recent research reports. Oppenheimer assumed coverage on Symbotic in a report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price target on the stock. Citigroup restated a “buy” rating and issued a $37.00 target price on shares of Symbotic in a report on Monday, January 13th. William Blair reiterated a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. UBS Group decreased their price objective on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, Craig Hallum cut Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.73.

Symbotic Stock Down 6.3 %

The firm has a 50 day moving average price of $27.87 and a 200 day moving average price of $27.42. The stock has a market cap of $18.43 billion, a PE ratio of -523.00, a price-to-earnings-growth ratio of 8.26 and a beta of 1.76.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The business had revenue of $576.77 million for the quarter, compared to the consensus estimate of $470.24 million. During the same quarter last year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. Equities analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $28.15, for a total transaction of $56,300.00. Following the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at approximately $6,025,113.40. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael David Dunn sold 63,867 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $30.08, for a total value of $1,921,119.36. Following the completion of the sale, the insider now directly owns 24,055 shares of the company’s stock, valued at $723,574.40. The trade was a 72.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,993 shares of company stock worth $3,490,555 in the last three months. 38.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Symbotic

Institutional investors and hedge funds have recently made changes to their positions in the stock. Castleview Partners LLC raised its position in Symbotic by 50.0% during 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 during the last quarter. Quarry LP purchased a new position in shares of Symbotic during the second quarter worth $65,000. Arcadia Investment Management Corp MI acquired a new position in Symbotic during the third quarter valued at $49,000. RiverPark Advisors LLC boosted its holdings in Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after purchasing an additional 1,211 shares during the last quarter. Finally, Quest Partners LLC grew its position in Symbotic by 19,307.7% during the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after purchasing an additional 2,510 shares during the period.

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.