Brokerages Set Symbotic Inc. (NASDAQ:SYM) Price Target at $38.33

Symbotic Inc. (NASDAQ:SYM) has been given an average rating of “Hold” by the seventeen research firms that are currently covering the stock, MarketBeat.com reports. One investment 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 12-month price target among analysts that have issued ratings on the stock in the last year is $38.33.

SYM has been the subject of a number of analyst reports. Craig Hallum cut Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a report on Wednesday, November 27th. Needham & Company LLC cut their price target on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Northland Securities upped their price objective on shares of Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. UBS Group cut their target price 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, Oppenheimer initiated coverage on Symbotic in a research report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price target on the stock.

Insider Buying and Selling

In other Symbotic news, CFO Carol J. Hibbard sold 4,055 shares of Symbotic stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total value of $124,488.50. Following the sale, the chief financial officer now directly owns 44,386 shares in the company, valued at approximately $1,362,650.20. The trade was a 8.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael David Dunn sold 1,971 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $30.00, for a total transaction of $59,130.00. Following the sale, the insider now directly owns 22,301 shares in the company, valued at $669,030. This trade represents a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,007 shares of company stock worth $2,827,909 over the last ninety days. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Symbotic

Several hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc increased its position in Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after buying an additional 503 shares during the last quarter. Castleview Partners LLC increased its holdings in shares of 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 acquiring an additional 500 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Symbotic during the 3rd quarter worth approximately $49,000. Private Trust Co. NA bought a new stake in Symbotic in the 4th quarter valued at $47,000. Finally, RiverPark Advisors LLC lifted its holdings in Symbotic by 147.1% during the 3rd 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.

Symbotic Stock Up 3.4 %

Shares of SYM stock opened at $29.14 on Friday. The stock has a 50 day moving average of $27.19 and a 200-day moving average of $26.50. The firm has a market cap of $17.12 billion, a PE ratio of -416.23, a price-to-earnings-growth ratio of 6.45 and a beta of 1.79. Symbotic has a 12 month low of $17.11 and a 12 month high of $50.40.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) EPS 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%. As a group, equities analysts predict that Symbotic will post 0.13 EPS for the current fiscal 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.