Symbotic (NASDAQ:SYM) Earns Sector Weight Rating from KeyCorp

Symbotic (NASDAQ:SYM)‘s stock had its “sector weight” rating restated by research analysts at KeyCorp in a research note issued on Wednesday, MarketBeat.com reports.

Other equities analysts also recently issued research reports about the company. TD Cowen increased their price objective on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Robert W. Baird decreased their price objective on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, BWS Financial reiterated a “sell” rating and issued a $10.00 target price on shares of Symbotic in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Symbotic presently has an average rating of “Moderate Buy” and a consensus target price of $42.69.

Symbotic Trading Down 35.8 %

Shares of NASDAQ SYM opened at $24.00 on Wednesday. Symbotic has a one year low of $17.11 and a one year high of $59.82. The business has a 50-day moving average price of $28.94 and a two-hundred day moving average price of $30.72. The firm has a market capitalization of $14.05 billion, a PE ratio of -400.00 and a beta of 1.81.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $576.77 million for the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.54%. The firm’s revenue was up 47.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) earnings per share. Research analysts anticipate that Symbotic will post 0.2 EPS for the current year.

Insider Buying and Selling at Symbotic

In other news, CFO Carol J. Hibbard sold 22,821 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total transaction of $660,896.16. Following the completion of the transaction, the chief financial officer now directly owns 34,188 shares of the company’s stock, valued at approximately $990,084.48. This trade represents a 40.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.75, for a total transaction of $37,500.00. Following the completion of the sale, the director now directly owns 214,036 shares in the company, valued at approximately $4,013,175. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,878 shares of company stock valued at $1,378,056 in the last quarter. Corporate insiders own 38.30% of the company’s stock.

Institutional Trading of Symbotic

Institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its position in Symbotic by 32.0% in the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after buying an additional 3,410,050 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Symbotic by 191.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock worth $27,281,000 after acquiring an additional 509,700 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Symbotic by 76.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock worth $21,317,000 after acquiring an additional 379,726 shares during the last quarter. Vanguard Group Inc. increased its holdings in Symbotic by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after purchasing an additional 345,386 shares in the last quarter. Finally, Millennium Management LLC raised its position in Symbotic by 6,694.5% in the 2nd quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock valued at $11,801,000 after purchasing an additional 330,709 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.