Symbotic Inc. (NASDAQ:SYM) Receives Average Recommendation of “Moderate Buy” from Analysts

Symbotic Inc. (NASDAQ:SYM) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $55.69.

SYM has been the subject of several research analyst reports. Northland Securities increased their target price on Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Craig Hallum lifted their price target on Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their price objective on Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $54.00 price target on shares of Symbotic in a research report on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price target on shares of Symbotic in a report on Tuesday, February 6th.

Symbotic Price Performance

Shares of NASDAQ SYM opened at $44.75 on Friday. Symbotic has a 1-year low of $23.58 and a 1-year high of $64.14. The company has a market capitalization of $25.82 billion, a price-to-earnings ratio of -165.74 and a beta of 1.97. The business has a 50-day moving average of $43.40 and a 200-day moving average of $44.25.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. The company had revenue of $368.45 million during the quarter, compared to the consensus estimate of $370.28 million. Research analysts expect that Symbotic will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling at Symbotic

In related news, major shareholder David A. Ladensohn sold 2,085,296 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $39.69, for a total value of $82,765,398.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Richard B. Cohen sold 5,000,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Ladensohn sold 2,085,296 shares of Symbotic stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $39.69, for a total transaction of $82,765,398.24. The disclosure for this sale can be found here. In the last three months, insiders sold 7,110,447 shares of company stock valued at $275,410,529. 38.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RFP Financial Group LLC increased its position in shares of Symbotic by 21.2% during the 1st quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock worth $62,000 after purchasing an additional 242 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Symbotic by 8.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,875 shares of the company’s stock worth $250,000 after buying an additional 400 shares during the last quarter. Natixis Advisors L.P. increased its holdings in shares of Symbotic by 4.3% during the fourth quarter. Natixis Advisors L.P. now owns 10,983 shares of the company’s stock worth $563,000 after buying an additional 456 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Symbotic in the fourth quarter valued at approximately $26,000. Finally, Bourne Lent Asset Management Inc. grew its position in Symbotic by 1.0% during the 4th quarter. Bourne Lent Asset Management Inc. now owns 58,260 shares of the company’s stock worth $2,990,000 after acquiring an additional 600 shares during the last quarter.

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.