Symbotic (NASDAQ:SYM) Upgraded at DA Davidson

DA Davidson upgraded shares of Symbotic (NASDAQ:SYM) from a neutral rating to a buy rating in a research report report published on Wednesday, Marketbeat Ratings reports. They currently have $35.00 target price on the stock.

Several other research firms have also recently commented on SYM. UBS Group lowered their target price on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Needham & Company LLC lowered their price objective on shares of Symbotic from $46.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. BWS Financial restated a “sell” rating and issued a $10.00 target price on shares of Symbotic in a research report on Tuesday, November 19th. The Goldman Sachs Group lowered their price target on Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 4th. Finally, TD Cowen upped their price objective on Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.71.

Symbotic Trading Down 3.3 %

SYM opened at $25.59 on Wednesday. The business’s 50 day moving average is $28.32 and its 200-day moving average is $27.77. The stock has a market cap of $15.03 billion, a PE ratio of -426.50 and a beta of 1.76. Symbotic has a twelve month low of $17.11 and a twelve month 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 the consensus estimate of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The firm had revenue of $576.77 million for the quarter, compared to the consensus estimate of $470.24 million. During the same quarter in the previous year, the business earned ($0.08) EPS. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. As a group, analysts forecast that Symbotic will post 0.12 EPS for the current year.

Insider Transactions at Symbotic

In related news, insider Michael David Dunn sold 63,867 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $30.08, for a total transaction of $1,921,119.36. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $28.15, for a total value of $56,300.00. Following the sale, the director now owns 214,036 shares of the company’s stock, valued at $6,025,113.40. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,844 shares of company stock valued at $3,268,431 over the last ninety days. Corporate insiders own 38.30% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Large investors have recently made changes to their positions in the company. Capital Market Strategies LLC bought a new position in shares of Symbotic during the 4th quarter valued at $802,000. 1ST Source Bank bought a new position in Symbotic during the third quarter valued at about $488,000. Sanctuary Advisors LLC acquired a new stake in shares of Symbotic in the third quarter worth about $1,029,000. Barclays PLC boosted its stake in shares of Symbotic by 1,105.9% during the 3rd quarter. Barclays PLC now owns 9,346 shares of the company’s stock worth $228,000 after acquiring an additional 8,571 shares in the last quarter. Finally, TCW Group Inc. increased its holdings in shares of Symbotic by 0.8% during the 3rd quarter. TCW Group Inc. now owns 384,274 shares of the company’s stock valued at $9,372,000 after acquiring an additional 3,075 shares during 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.