UBS Group Lowers Symbotic (NASDAQ:SYM) Price Target to $30.00

Symbotic (NASDAQ:SYM) had its price target dropped by analysts at UBS Group from $32.00 to $30.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 26.48% from the company’s current price.

A number of other analysts have also recently weighed in on SYM. William Blair reiterated a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. Northland Securities increased their price target on Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. TD Cowen raised their price objective on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group reduced their target price on Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Symbotic has a consensus rating of “Hold” and a consensus price target of $38.20.

Symbotic Price Performance

Shares of NASDAQ SYM opened at $23.72 on Tuesday. Symbotic has a 1-year low of $17.11 and a 1-year high of $50.40. The business has a 50-day moving average of $27.12 and a 200-day moving average of $26.52. The company has a market capitalization of $13.96 billion, a price-to-earnings ratio of -338.81, a PEG ratio of 6.48 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. Research analysts expect that Symbotic will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling at Symbotic

In related news, CFO Carol J. Hibbard sold 4,055 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total transaction of $124,488.50. Following the transaction, the chief financial officer now directly owns 44,386 shares in the company, valued at $1,362,650.20. The trade was a 8.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael David Dunn sold 3,635 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $33.28, for a total value of $120,972.80. Following the completion of the sale, the insider now owns 24,272 shares in the company, valued at approximately $807,772.16. This represents a 13.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,854 shares of company stock worth $3,986,371 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Several large investors have recently modified their holdings of the stock. IFP Advisors Inc boosted its holdings in shares of Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after acquiring an additional 503 shares in the last quarter. Private Trust Co. NA bought a new stake in shares of Symbotic in the 4th quarter valued at $47,000. Pilgrim Partners Asia Pte Ltd bought a new position in Symbotic during the 4th quarter worth about $47,000. Arcadia Investment Management Corp MI bought a new position in Symbotic during the 3rd quarter worth about $49,000. Finally, RiverPark Advisors LLC boosted its stake in shares of Symbotic by 147.1% during the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after buying an additional 1,211 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.