Symbotic Inc. (NASDAQ:SYM) Receives $43.23 Consensus Price Target from Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $43.23.

A number of equities analysts have commented on the stock. The Goldman Sachs Group cut their price target on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Needham & Company LLC reduced their price target on shares of Symbotic from $54.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. BWS Financial restated a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, TD Cowen decreased their target price on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th.

Insider Transactions at Symbotic

In other news, insider William M. Boyd III sold 8,826 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $28.33, for a total transaction of $250,040.58. Following the transaction, the insider now directly owns 23,012 shares of the company’s stock, valued at approximately $651,929.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Symbotic news, insider William M. Boyd III sold 8,826 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $28.33, for a total value of $250,040.58. Following the completion of the transaction, the insider now directly owns 23,012 shares in the company, valued at approximately $651,929.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael David Dunn sold 5,266 shares of Symbotic stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $23.81, for a total transaction of $125,383.46. Following the sale, the insider now directly owns 85,224 shares in the company, valued at $2,029,183.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,057 shares of company stock worth $660,860. Company insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SYM. RFP Financial Group LLC grew its position in shares of Symbotic by 21.2% in the 1st quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock worth $62,000 after buying an additional 242 shares during the period. Advisors Asset Management Inc. grew its holdings in Symbotic by 11.6% in the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $123,000 after purchasing an additional 284 shares during the period. Castleview Partners LLC increased its stake in shares of Symbotic by 50.0% during the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Symbotic by 4.5% during the first quarter. California State Teachers Retirement System now owns 15,057 shares of the company’s stock valued at $678,000 after purchasing an additional 654 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Symbotic by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock worth $304,000 after purchasing an additional 679 shares in the last quarter.

Symbotic Trading Up 2.3 %

Shares of SYM opened at $28.44 on Friday. The stock has a 50-day moving average price of $24.31 and a 200-day moving average price of $31.73. The company has a market cap of $16.65 billion, a PE ratio of -149.68 and a beta of 1.81. Symbotic has a 12-month low of $17.11 and a 12-month high of $59.82.

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.