Symbotic (NASDAQ:SYM) Given New $32.00 Price Target at UBS Group

Symbotic (NASDAQ:SYM) had its target price reduced by equities researchers at UBS Group from $40.00 to $32.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 24.80% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Northland Securities upped their target price on shares of Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. TD Cowen increased their price objective on Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. DA Davidson downgraded Symbotic from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $50.00 to $35.00 in a research report on Wednesday, November 27th. Finally, BWS Financial reiterated a “sell” rating and issued a $10.00 price target on shares of Symbotic in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $41.79.

Symbotic Stock Performance

Shares of SYM opened at $25.64 on Friday. The company has a market cap of $15.06 billion, a price-to-earnings ratio of -427.33 and a beta of 1.73. The stock has a fifty day moving average price of $28.58 and a two-hundred day moving average price of $28.03. Symbotic has a 52-week low of $17.11 and a 52-week high of $52.20.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The company had revenue of $576.77 million during the quarter, compared to analyst estimates of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The firm’s quarterly revenue was up 47.2% compared to the same quarter last year. During the same period last year, the company posted ($0.08) earnings per share. As a group, research analysts predict that Symbotic will post 0.12 EPS for the current fiscal year.

Insider Transactions at Symbotic

In other Symbotic news, CFO Carol J. Hibbard sold 22,821 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value 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. The trade was a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael David Dunn sold 63,867 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $30.08, for a total value of $1,921,119.36. Following the sale, the insider now directly owns 24,055 shares of the company’s stock, valued at approximately $723,574.40. The trade was a 72.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,844 shares of company stock worth $3,220,351. 38.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Symbotic

Institutional investors have recently added to or reduced their stakes in the stock. Castleview Partners LLC increased its stake in Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after buying an additional 500 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Symbotic during the third quarter worth about $49,000. RiverPark Advisors LLC raised its holdings in Symbotic by 147.1% during the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after acquiring an additional 1,211 shares in the last quarter. Quest Partners LLC boosted its position in Symbotic by 19,307.7% during the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after purchasing an additional 2,510 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Symbotic during the 2nd quarter worth approximately $65,000.

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.