Symbotic Inc. (NASDAQ:SYM) Receives Consensus Rating of “Hold” from Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM) have earned an average recommendation of “Hold” from the seventeen research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $38.20.

A number of analysts have recently issued reports on SYM shares. The Goldman Sachs Group dropped their price target on shares of Symbotic from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Northland Securities raised their price target on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 17th. UBS Group dropped their price target on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Needham & Company LLC dropped their price target on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, TD Cowen raised their price objective on shares of Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th.

Insider Buying and Selling at Symbotic

In other news, CFO Carol J. Hibbard sold 4,055 shares of Symbotic stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total transaction of $124,488.50. Following the sale, the chief financial officer now owns 44,386 shares in the company, valued at $1,362,650.20. This trade represents a 8.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 sale, the insider now owns 24,055 shares in the company, 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. Insiders have sold 137,854 shares of company stock valued at $3,986,371 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Symbotic

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Symbotic by 26.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,801 shares of the company’s stock worth $1,750,000 after purchasing an additional 15,394 shares during the last quarter. Twinbeech Capital LP bought a new stake in Symbotic in the fourth quarter worth $480,000. Two Sigma Investments LP increased its position in Symbotic by 26.2% in the fourth quarter. Two Sigma Investments LP now owns 321,622 shares of the company’s stock worth $7,626,000 after purchasing an additional 66,755 shares during the last quarter. Tanaka Capital Management Inc. increased its position in Symbotic by 68.7% in the fourth quarter. Tanaka Capital Management Inc. now owns 72,688 shares of the company’s stock worth $1,723,000 after purchasing an additional 29,596 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Symbotic by 931.7% in the fourth quarter. Janus Henderson Group PLC now owns 179,516 shares of the company’s stock worth $4,256,000 after purchasing an additional 162,116 shares during the last quarter.

Symbotic Stock Performance

NASDAQ:SYM opened at $22.57 on Thursday. The firm has a market cap of $13.28 billion, a P/E ratio of -322.38, a P/E/G ratio of 6.48 and a beta of 1.79. Symbotic has a fifty-two week low of $17.11 and a fifty-two week high of $50.40. The firm has a 50-day simple moving average of $26.91 and a two-hundred day simple moving average of $26.54.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. On average, equities research analysts predict that Symbotic will post 0.13 EPS for the current year.

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.