Deutsche Bank Aktiengesellschaft Raises Symbotic (NASDAQ:SYM) Price Target to $58.00

Symbotic (NASDAQ:SYM) had its target price hoisted by Deutsche Bank Aktiengesellschaft from $57.00 to $58.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the company. Robert W. Baird raised their price objective on Symbotic from $52.00 to $53.00 and gave the company an outperform rating in a research note on Tuesday. The Goldman Sachs Group decreased their price target on shares of Symbotic from $51.00 to $44.00 and set a neutral rating on the stock in a report on Tuesday, February 6th. Cantor Fitzgerald restated an overweight rating and issued a $60.00 target price on shares of Symbotic in a research report on Tuesday, February 6th. Needham & Company LLC reiterated a buy rating and set a $54.00 price target on shares of Symbotic in a report on Tuesday. Finally, Northland Securities increased their target price on 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 eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $55.69.

Symbotic Stock Performance

NASDAQ SYM opened at $44.75 on Tuesday. The company has a market cap of $25.82 billion, a price-to-earnings ratio of -165.74 and a beta of 1.97. The company has a 50 day moving average of $43.40 and a 200-day moving average of $44.25. Symbotic has a 1-year low of $23.58 and a 1-year high of $64.14.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates 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, equities research analysts forecast that Symbotic will post -0.03 earnings per share for the current year.

Insider Activity

In other news, insider Richard B. Cohen sold 5,000,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $38.32, for a total transaction of $191,600,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Richard B. Cohen sold 5,000,000 shares of Symbotic stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $38.32, for a total transaction of $191,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael David Dunn sold 1,747 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $40.08, for a total value of $70,019.76. Following the sale, the insider now owns 74,032 shares of the company’s stock, valued at approximately $2,967,202.56. The disclosure for this sale can be found here. Insiders sold 7,110,447 shares of company stock worth $275,410,529 in the last quarter. 38.30% of the stock is owned by corporate insiders.

Institutional Trading of Symbotic

Large investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. bought a new position in Symbotic in the 1st quarter worth approximately $426,752,000. 1832 Asset Management L.P. boosted its holdings in Symbotic by 189.5% in the 4th 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 during the period. Zevenbergen Capital Investments LLC increased its holdings in shares of Symbotic by 1,826.2% in the first quarter. Zevenbergen Capital Investments LLC now owns 361,167 shares of the company’s stock worth $16,253,000 after purchasing an additional 342,417 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Symbotic during the first quarter valued at $12,219,000. Finally, Coatue Management LLC bought a new position in Symbotic in the 4th quarter worth about $11,088,000.

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.