Symbotic (NASDAQ:SYM) Shares Up 4.3% – Should You Buy?

Symbotic Inc. (NASDAQ:SYM) traded up 4.3% during trading on Monday . The stock traded as high as $25.17 and last traded at $25.03. 468,186 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 1,816,539 shares. The stock had previously closed at $23.99.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. William Blair restated a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 target price on shares of Symbotic in a research report on Tuesday, November 19th. Northland Securities raised their price objective on Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. TD Cowen boosted their price objective on Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, BWS Financial reaffirmed a “sell” rating and issued a $10.00 target price on shares of Symbotic in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Symbotic currently has a consensus rating of “Moderate Buy” and an average price target of $42.54.

Symbotic Trading Down 3.8 %

The stock’s 50-day moving average price is $29.40 and its 200-day moving average price is $28.67. The stock has a market cap of $14.42 billion, a price-to-earnings ratio of -409.17 and a beta of 1.73.

Symbotic (NASDAQ:SYM) last issued its earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) earnings per share. As a group, analysts predict that Symbotic Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Symbotic

In related news, CFO Carol J. Hibbard sold 22,821 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the completion of the sale, the chief financial officer now directly owns 34,188 shares of the company’s stock, valued at approximately $990,084.48. This represents a 40.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael David Dunn sold 63,867 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $30.08, for a total transaction of $1,921,119.36. Following the completion of the sale, the insider now owns 24,055 shares of the company’s stock, valued at approximately $723,574.40. The trade was a 72.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,745 shares of company stock worth $3,261,675. 38.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Symbotic

Several large investors have recently modified their holdings of SYM. Canada Pension Plan Investment Board boosted its holdings in 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 buying an additional 509,700 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Symbotic in the third quarter valued at $1,029,000. Baillie Gifford & Co. raised its stake in shares of Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after purchasing an additional 3,410,050 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Symbotic by 10.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock worth $5,343,000 after purchasing an additional 20,469 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Symbotic by 6,694.5% during the 2nd quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock valued at $11,801,000 after buying an additional 330,709 shares in the last quarter.

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.