The Goldman Sachs Group Has Lowered Expectations for Symbotic (NASDAQ:SYM) Stock Price

Symbotic (NASDAQ:SYM) had its target price reduced by equities research analysts at The Goldman Sachs Group from $25.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential downside of 12.75% from the company’s previous close.

Other analysts have also issued research reports about the stock. Citigroup reiterated a “buy” rating and issued a $37.00 target price on shares of Symbotic in a research report on Monday, January 13th. Needham & Company LLC lowered their price objective on Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. BWS Financial reissued a “sell” rating and set a $10.00 target price on shares of Symbotic in a report on Wednesday, April 2nd. Northland Securities lifted their price target on Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, Raymond James downgraded Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Symbotic has an average rating of “Hold” and a consensus price target of $37.73.

Symbotic Stock Up 3.0 %

Shares of Symbotic stock opened at $20.63 on Thursday. The firm has a market cap of $12.14 billion, a PE ratio of -294.67, a P/E/G ratio of 6.48 and a beta of 1.86. The business has a 50-day moving average price of $22.93 and a 200 day moving average price of $26.38. Symbotic has a twelve month low of $16.32 and a twelve month high of $48.98.

Symbotic (NASDAQ:SYM) last announced its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. On average, sell-side analysts expect that Symbotic will post 0.13 EPS for the current year.

Insider Activity at Symbotic

In other Symbotic news, insider Michael David Dunn sold 1,971 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $30.00, for a total transaction of $59,130.00. Following the completion of the sale, the insider now owns 22,301 shares of the company’s stock, valued at $669,030. This trade represents a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William M. Boyd III sold 2,660 shares of Symbotic stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total value of $73,416.00. Following the completion of the sale, the insider now owns 40,812 shares in the company, valued at $1,126,411.20. This represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,117 shares of company stock valued at $2,020,354. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in shares of Symbotic by 1,812.2% in the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company’s stock worth $29,000 after acquiring an additional 1,341 shares during the last quarter. IFP Advisors Inc lifted its stake in Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after purchasing an additional 503 shares in the last quarter. Private Trust Co. NA acquired a new position in Symbotic during the fourth quarter worth $47,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Symbotic in the fourth quarter valued at $47,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Symbotic by 154.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock valued at $58,000 after buying an additional 1,490 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.