Symbotic Inc. (NASDAQ:SYM) Receives Consensus Rating of “Hold” from Brokerages

Symbotic Inc. (NASDAQ:SYM) has received a consensus rating of “Hold” from the nineteen ratings firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $56.50.

A number of analysts have recently commented on the company. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. Wall Street Zen upgraded Symbotic from a “sell” rating to a “hold” rating in a research note on Sunday, November 30th. Northland Securities boosted their target price on Symbotic from $56.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. UBS Group restated a “sell” rating and set a $35.00 price target (up from $27.00) on shares of Symbotic in a report on Tuesday, September 23rd. Finally, The Goldman Sachs Group lowered Symbotic from a “neutral” rating to a “sell” rating and set a $47.00 price target for the company. in a research report on Tuesday, December 2nd.

Insider Transactions at Symbotic

In other Symbotic news, major shareholder David A. Ladensohn sold 23,000 shares of Symbotic stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $66.75, for a total value of $1,535,250.00. Following the completion of the sale, the insider owned 5,000 shares of the company’s stock, valued at approximately $333,750. This trade represents a 82.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Group Corp. Softbank sold 3,500,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $53.21, for a total value of $186,235,000.00. Following the transaction, the insider directly owned 5,590,000 shares in the company, valued at approximately $297,443,900. The trade was a 38.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 7,085,508 shares of company stock valued at $378,798,933. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Symbotic

Hedge funds have recently bought and sold shares of the company. MAI Capital Management increased its holdings in Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares in the last quarter. Ameriflex Group Inc. boosted its position in shares of Symbotic by 1,500.0% in the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after purchasing an additional 660 shares during the period. Strategic Advocates LLC bought a new position in shares of Symbotic in the third quarter worth approximately $42,000. IAG Wealth Partners LLC purchased a new stake in shares of Symbotic in the second quarter worth $32,000. Finally, AdvisorNet Financial Inc bought a new stake in shares of Symbotic during the 2nd quarter valued at $32,000.

Symbotic Trading Up 0.8%

SYM opened at $60.27 on Wednesday. The company has a market cap of $35.65 billion, a price-to-earnings ratio of -401.80, a price-to-earnings-growth ratio of 16.97 and a beta of 2.10. The stock has a fifty day simple moving average of $65.83 and a two-hundred day simple moving average of $56.51. Symbotic has a 12-month low of $16.32 and a 12-month high of $87.88.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, November 24th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The business had revenue of $618.46 million during the quarter, compared to analysts’ expectations of $604.00 million. Symbotic had a negative return on equity of 3.89% and a negative net margin of 0.75%.The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 earnings per share. On average, analysts predict that Symbotic will post 0.13 EPS for the current year.

About Symbotic

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.