Symbotic Inc. (NASDAQ:SYM) Receives $38.20 Consensus PT from Analysts

Shares of Symbotic Inc. (NASDAQ:SYM) have received an average recommendation of “Hold” from the seventeen research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $38.20.

SYM has been the topic of a number of recent research reports. Oppenheimer initiated coverage on Symbotic in a research report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a report on Thursday, February 6th. BWS Financial reiterated a “sell” rating and issued a $10.00 target price on shares of Symbotic in a research note on Wednesday. Citigroup restated a “buy” rating and set a $37.00 price target on shares of Symbotic in a research note on Monday, January 13th. Finally, UBS Group cut their price target on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th.

Insider Transactions at Symbotic

In related news, insider William M. Boyd III sold 2,455 shares of Symbotic stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $22.31, for a total transaction of $54,771.05. Following the completion of the transaction, the insider now directly owns 39,659 shares of the company’s stock, valued at $884,792.29. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Todd Krasnow sold 10,447 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $27.05, for a total transaction of $282,591.35. Following the sale, the director now directly owns 194,036 shares of the company’s stock, valued at approximately $5,248,673.80. The trade was a 5.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,442 shares of company stock valued at $2,071,943. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Symbotic

Several large investors have recently made changes to their positions in SYM. Alberta Investment Management Corp acquired a new position in shares of Symbotic during the fourth quarter worth approximately $586,000. Geode Capital Management LLC raised its position in shares of Symbotic by 10.2% during the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after acquiring an additional 46,721 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Symbotic in the third quarter valued at about $1,029,000. Capital Market Strategies LLC acquired a new stake in Symbotic in the fourth quarter worth about $802,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Symbotic by 10.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock worth $5,343,000 after purchasing an additional 20,469 shares during the last quarter.

Symbotic Price Performance

Shares of SYM opened at $22.03 on Monday. The business’s 50-day moving average is $24.86 and its 200-day moving average is $26.70. The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of -314.67, a P/E/G 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 $48.98.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) 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%. Equities research analysts expect that Symbotic will post 0.13 earnings per share for the current fiscal 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.