Symbotic (NASDAQ:SYM) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Symbotic (NASDAQ:SYM) from a hold rating to a sell rating in a research note published on Saturday.

SYM has been the topic of a number of other research reports. Arete downgraded Symbotic from a “buy” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a research report on Friday, July 25th. DA Davidson restated a “neutral” rating and issued a $47.00 price target (up from $35.00) on shares of Symbotic in a report on Monday, August 25th. Barclays began coverage on shares of Symbotic in a research report on Tuesday, October 7th. They issued an “underweight” rating and a $38.00 price objective on the stock. Oppenheimer raised their target price on shares of Symbotic from $54.00 to $59.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, Arete Research lowered shares of Symbotic from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $44.41.

Symbotic Stock Down 2.0%

Symbotic stock opened at $53.64 on Friday. The firm has a market cap of $31.67 billion, a P/E ratio of -766.18, a P/E/G ratio of 9.03 and a beta of 2.10. The business has a fifty day moving average of $63.98 and a two-hundred day moving average of $49.35. Symbotic has a twelve month low of $16.32 and a twelve month high of $84.00.

Insider Transactions at Symbotic

In other Symbotic news, insider William M. Boyd III sold 11,735 shares of Symbotic stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $82.09, for a total transaction of $963,326.15. Following the completion of the sale, the insider owned 26,769 shares of the company’s stock, valued at approximately $2,197,467.21. The trade was a 30.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Maria G. Freve sold 1,666 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $58.18, for a total value of $96,927.88. Following the completion of the transaction, the insider directly owned 544 shares in the company, valued at $31,649.92. This represents a 75.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 68,160 shares of company stock worth $4,761,942. Insiders own 0.60% of the company’s stock.

Institutional Trading of Symbotic

Several institutional investors and hedge funds have recently bought and sold shares of SYM. MAI Capital Management increased its stake in shares of Symbotic by 833.3% in the third quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the period. AdvisorNet Financial Inc purchased a new stake in Symbotic in the second quarter valued at $32,000. IAG Wealth Partners LLC acquired a new stake in Symbotic during the 2nd quarter worth about $32,000. Ameriflex Group Inc. raised its stake in shares of Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock valued at $38,000 after buying an additional 660 shares during the last quarter. Finally, Gables Capital Management Inc. purchased a new position in shares of Symbotic during the 2nd quarter valued at about $39,000.

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.