Symbotic Inc. (NASDAQ:SYM) Given Average Rating of “Hold” by Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM) have been assigned a consensus rating of “Hold” from the seventeen analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and nine have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $38.20.

Several research firms have weighed in on SYM. Citigroup reiterated a “buy” rating and issued a $37.00 target price on shares of Symbotic in a report on Monday, January 13th. DA Davidson upgraded Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Wednesday, January 8th. Oppenheimer initiated coverage on Symbotic in a research report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price objective for the company. Needham & Company LLC reduced their target price on Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price target on shares of Symbotic in a report on Thursday, February 6th.

Insider Transactions at Symbotic

In other news, insider Michael David Dunn sold 5,365 shares of Symbotic stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $24.60, for a total value of $131,979.00. Following the completion of the transaction, the insider now owns 31,860 shares in the company, valued at approximately $783,756. This trade represents a 14.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Carol J. Hibbard sold 4,055 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total transaction of $124,488.50. Following the sale, the chief financial officer now 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,442 shares of company stock valued at $2,120,023. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYM. IFP Advisors Inc lifted its holdings in Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after buying an additional 503 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Symbotic during the 4th quarter worth about $47,000. Private Trust Co. NA purchased a new stake in Symbotic during the fourth quarter worth approximately $47,000. Jones Financial Companies Lllp boosted its holdings in 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 purchasing an additional 1,490 shares in the last quarter. Finally, Quest Partners LLC increased its stake in Symbotic by 19,307.7% in 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.

Symbotic Stock Performance

Shares of Symbotic stock opened at $20.16 on Monday. The business’s 50 day moving average price is $25.53 and its 200 day moving average price is $26.73. The company has a market cap of $11.86 billion, a price-to-earnings ratio of -287.96, a PEG ratio of 6.48 and a beta of 1.85. Symbotic has a one year low of $17.11 and a one year high of $48.98.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) EPS 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, analysts predict that Symbotic will post 0.13 EPS for the current fiscal year.

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.