Symbotic Inc. (NASDAQ:SYM) Receives $54.00 Average Price Target from Brokerages

Symbotic Inc. (NASDAQ:SYM) has earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $54.00.

A number of research analysts have issued reports on SYM shares. KeyCorp decreased their price target on shares of Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, February 6th. The Goldman Sachs Group decreased their price target on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Northland Securities raised their price target on shares of Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Finally, Robert W. Baird decreased their price target on shares of Symbotic from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th.

Symbotic Stock Down 0.9 %

Shares of SYM opened at $39.73 on Monday. The company has a market cap of $22.93 billion, a price-to-earnings ratio of -147.15 and a beta of 1.91. Symbotic has a twelve month low of $22.40 and a twelve month high of $64.14. The company has a 50 day moving average of $43.63 and a two-hundred day moving average of $44.18.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $368.45 million during the quarter, compared to the consensus estimate of $370.28 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. On average, sell-side analysts expect that Symbotic will post -0.02 EPS for the current year.

Insider Buying and Selling at Symbotic

In other Symbotic news, major shareholder David A. Ladensohn sold 2,085,296 shares of Symbotic stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.69, for a total value of $82,765,398.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Symbotic news, major shareholder David A. Ladensohn sold 2,085,296 shares of Symbotic stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.69, for a total value of $82,765,398.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael David Dunn sold 7,051 shares of Symbotic stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $45.00, for a total transaction of $317,295.00. Following the completion of the transaction, the insider now directly owns 65,646 shares of the company’s stock, valued at approximately $2,954,070. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,114,430 shares of company stock valued at $275,636,670. Corporate insiders own 38.30% of the company’s stock.

Institutional Trading of Symbotic

Several institutional investors have recently modified their holdings of the stock. Softbank Group CORP. grew its position in shares of Symbotic by 1,000.0% in the first quarter. Softbank Group CORP. now owns 22,000,000 shares of the company’s stock valued at $502,480,000 after purchasing an additional 20,000,000 shares during the period. Vanguard Group Inc. boosted its position in Symbotic by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 2,081,034 shares of the company’s stock worth $106,819,000 after acquiring an additional 40,699 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Symbotic by 189.5% during the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock worth $54,174,000 after acquiring an additional 690,900 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in Symbotic by 202.3% during the first quarter. Frontier Capital Management Co. LLC now owns 1,041,144 shares of the company’s stock worth $23,780,000 after acquiring an additional 696,727 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its position in Symbotic by 19.1% during the fourth quarter. Voloridge Investment Management LLC now owns 882,734 shares of the company’s stock worth $45,311,000 after acquiring an additional 141,333 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.