Symbotic Inc. (NASDAQ:SYM) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Symbotic Inc. (NASDAQ:SYM) have received an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $42.54.

A number of research firms recently weighed in on SYM. DA Davidson cut shares of Symbotic from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $50.00 to $35.00 in a report on Wednesday, November 27th. BWS Financial restated a “sell” rating and set a $10.00 target price on shares of Symbotic in a report on Tuesday, November 19th. The Goldman Sachs Group decreased their target price on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, December 4th. TD Cowen lifted their target price on Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Northland Securities boosted their target price on Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th.

Symbotic Trading Up 4.1 %

SYM opened at $23.99 on Friday. The firm has a market cap of $14.09 billion, a price-to-earnings ratio of -399.83 and a beta of 1.73. Symbotic has a twelve month low of $17.11 and a twelve month high of $57.16. The company has a fifty day simple moving average of $29.46 and a 200 day simple moving average of $28.91.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The company 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 business posted ($0.08) EPS. Symbotic’s quarterly revenue was up 47.2% compared to the same quarter last year. On average, analysts forecast that Symbotic will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Symbotic

In other news, 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 value of $660,896.16. Following the sale, the chief financial officer now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael David Dunn sold 63,867 shares of Symbotic stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $30.08, for a total transaction of $1,921,119.36. Following the completion of the transaction, the insider now owns 24,055 shares of the company’s stock, valued at $723,574.40. This trade represents a 72.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,745 shares of company stock valued at $3,261,675 in the last 90 days. 38.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. increased its position in Symbotic by 32.0% in the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after purchasing an additional 3,410,050 shares during the period. Canada Pension Plan Investment Board lifted its position in Symbotic by 191.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after acquiring an additional 509,700 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Symbotic by 76.8% during the third quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock worth $21,317,000 after buying an additional 379,726 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Symbotic by 6,694.5% during the 2nd quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock worth $11,801,000 after buying an additional 330,709 shares during the last quarter. Finally, Thematics Asset Management increased its holdings in Symbotic by 30.1% during the third quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock worth $25,565,000 after buying an additional 242,661 shares during the last quarter.

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.