Symbotic Inc. (NASDAQ:SYM) Given Consensus Rating of "Hold" by Analysts

Symbotic Inc. (NASDAQ:SYM - Get Free Report) has received an average rating of "Hold" from the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $38.33.

A number of brokerages have recently commented on SYM. William Blair reiterated a "market perform" rating on shares of Symbotic in a report on Thursday, December 5th. Needham & Company LLC lowered their target price on shares of Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, February 6th. UBS Group cut their price target on shares of Symbotic from $40.00 to $32.00 and set a "neutral" rating on the stock in a report on Friday, January 3rd. Citigroup reissued a "buy" rating and issued a $37.00 price objective on shares of Symbotic in a research note on Monday, January 13th. Finally, TD Cowen upped their target price on Symbotic from $43.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th.

Symbotic Trading Up 2.4 %

Symbotic stock traded up $0.69 during midday trading on Friday, hitting $28.88. The stock had a trading volume of 1,538,881 shares, compared to its average volume of 2,649,698. The firm's fifty day moving average is $27.19 and its two-hundred day moving average is $26.50. The company has a market capitalization of $16.96 billion, a PE ratio of -411.56, a P/E/G ratio of 6.45 and a beta of 1.79. Symbotic has a 52-week low of $17.11 and a 52-week high of $50.40.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share 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%. As a group, equities research analysts predict that Symbotic will post 0.13 earnings per share for the current fiscal year.

Insider Transactions at Symbotic

In related news, CFO Carol J. Hibbard sold 4,055 shares of the company's stock in a transaction 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 transaction, the chief financial officer now owns 44,386 shares of the company's stock, valued at $1,362,650.20. This represents 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 1,971 shares of the company's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $30.00, for a total value of $59,130.00. Following the transaction, the insider now directly owns 22,301 shares in the company, valued at $669,030. This represents a 8.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,007 shares of company stock worth $2,827,909. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of Symbotic

Several institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc raised 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 purchasing an additional 503 shares during the period. Castleview Partners LLC raised its holdings in shares of Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company's stock worth $37,000 after purchasing an additional 500 shares during the period. Private Trust Co. NA purchased a new position in shares of Symbotic in the 4th quarter worth about $47,000. Arcadia Investment Management Corp MI purchased a new position in shares of Symbotic in the 3rd quarter worth about $49,000. Finally, RiverPark Advisors LLC raised its holdings in shares of Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company's stock worth $50,000 after purchasing an additional 1,211 shares during the period.

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.