Symbotic (NASDAQ:SYM) Given New $53.00 Price Target at Robert W. Baird

Symbotic (NASDAQ:SYM) had its target price upped by equities researchers at Robert W. Baird from $52.00 to $53.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 26.37% from the stock’s current price.

SYM has been the subject of several other reports. The Goldman Sachs Group decreased their price objective on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research report on Tuesday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price objective on shares of Symbotic in a research report on Tuesday. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Wednesday, February 7th. Finally, Northland Securities boosted their price target on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.08.

Symbotic Stock Up 2.0 %

Shares of SYM stock opened at $41.94 on Tuesday. Symbotic has a 52 week low of $23.58 and a 52 week high of $64.14. The stock has a market capitalization of $24.20 billion, a PE ratio of -155.33 and a beta of 1.97. The firm has a 50 day moving average of $43.01 and a two-hundred day moving average of $44.19.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $368.45 million during the quarter, compared to analysts’ expectations of $370.28 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. Analysts expect that Symbotic will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling at Symbotic

In other news, major shareholder David A. Ladensohn sold 2,085,296 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $39.69, for a total transaction of $82,765,398.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder David A. Ladensohn sold 2,085,296 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $39.69, for a total transaction of $82,765,398.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Merline Saintil sold 3,135 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $44.74, for a total transaction of $140,259.90. Following the transaction, the director now owns 62,312 shares in the company, valued at $2,787,838.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,110,447 shares of company stock worth $275,410,529. 38.30% of the stock is owned by company insiders.

Institutional Trading of Symbotic

A number of institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. purchased a new stake in Symbotic during the first quarter worth about $426,752,000. Vanguard Group Inc. lifted its holdings in shares of Symbotic by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 2,081,034 shares of the company’s stock valued at $106,819,000 after purchasing an additional 40,699 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Symbotic by 189.5% in the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock valued at $54,174,000 after purchasing an additional 690,900 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Symbotic by 6.3% in the first quarter. Raymond James & Associates now owns 616,391 shares of the company’s stock valued at $27,738,000 after purchasing an additional 36,515 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Symbotic by 44.0% in the fourth quarter. First Trust Advisors LP now owns 510,237 shares of the company’s stock valued at $26,190,000 after purchasing an additional 155,828 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.