Brokerages Set Symbotic Inc. (NASDAQ:SYM) Target Price at $38.20

Shares of Symbotic Inc. (NASDAQ:SYM) have been given a consensus rating of “Hold” by the seventeen brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $38.20.

A number of brokerages have weighed in on SYM. UBS Group reduced their price objective on Symbotic from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. TD Cowen upped their price target on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. BWS Financial reissued a “sell” rating and set a $10.00 price objective on shares of Symbotic in a research report on Tuesday, January 21st. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Wednesday, January 8th. Finally, William Blair reiterated a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th.

Insider Buying and Selling

In related news, CFO Carol J. Hibbard sold 4,055 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total value of $124,488.50. Following the sale, the chief financial officer now owns 44,386 shares of the company’s stock, valued at approximately $1,362,650.20. This represents a 8.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $24.04, for a total value of $48,080.00. Following the completion of the sale, the director now owns 214,036 shares in the company, valued at $5,145,425.44. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,987 shares of company stock valued at $2,065,252. 0.60% of the stock is owned by insiders.

Institutional Trading of Symbotic

A number of hedge funds have recently bought and sold shares of the company. Walmart Inc. acquired a new stake in Symbotic in the 4th quarter worth about $355,650,000. Baillie Gifford & Co. lifted its holdings in shares of Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after acquiring an additional 3,410,050 shares during the period. Vanguard Group Inc. boosted its position in shares of Symbotic by 41.3% in the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock worth $117,846,000 after acquiring an additional 1,452,627 shares during the last quarter. Thematics Asset Management grew its holdings in Symbotic by 30.1% in the third quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock valued at $25,565,000 after purchasing an additional 242,661 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Symbotic during the fourth quarter worth approximately $20,754,000.

Symbotic Stock Down 9.1 %

SYM stock opened at $21.17 on Thursday. The business has a 50 day moving average price of $26.78 and a 200 day moving average price of $26.51. The stock has a market cap of $12.46 billion, a price-to-earnings ratio of -302.39, a PEG ratio of 6.48 and a beta of 1.85. Symbotic has a fifty-two week low of $17.11 and a fifty-two week high of $50.40.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping 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, sell-side analysts anticipate 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.