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

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) have been assigned a consensus recommendation of "Hold" from the seventeen brokerages that are covering the firm, MarketBeat.com reports. One equities research 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 price target among brokers that have updated their coverage on the stock in the last year is $37.20.

A number of analysts recently issued reports on SYM shares. Northland Securities increased their target price on shares of Symbotic from $35.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, January 17th. UBS Group cut their target price on shares of Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Oppenheimer started coverage on shares of Symbotic in a research report on Wednesday, January 15th. They set an "outperform" rating and a $35.00 price target for the company. The Goldman Sachs Group cut their price objective on Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $60.00 target price on shares of Symbotic in a research report on Thursday, February 6th.

Insider Activity at Symbotic

In related news, insider Maria G. Freve sold 1,929 shares of the business's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $21.69, for a total transaction of $41,840.01. Following the completion of the sale, the insider now owns 2,646 shares of the company's stock, valued at $57,391.74. This represents a 42.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Carol J. Hibbard sold 4,055 shares of the stock in a transaction dated 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 approximately $1,362,650.20. This trade represents a 8.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,957 shares of company stock valued at $1,573,931 over the last three months. 0.60% of the stock is owned by insiders.

Institutional Trading of Symbotic

Large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Symbotic by 1,812.2% during the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after buying an additional 1,341 shares during the last quarter. Ulland Investment Advisors LLC bought a new position in shares of Symbotic in the first quarter worth $31,000. IFP Advisors Inc raised its stake in shares of Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock valued at $32,000 after purchasing an additional 503 shares in the last quarter. Private Trust Co. NA acquired a new position in Symbotic during the 4th quarter valued at about $47,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Symbotic during the fourth quarter worth approximately $47,000.

Symbotic Stock Performance

Symbotic stock traded down $0.13 during trading on Friday, reaching $21.93. The company had a trading volume of 888,719 shares, compared to its average volume of 1,938,997. Symbotic has a 12-month low of $16.32 and a 12-month high of $48.98. The stock's 50 day moving average price is $21.49 and its two-hundred day moving average price is $26.15. The firm has a market capitalization of $12.90 billion, a price-to-earnings ratio of -313.24, a PEG ratio of 6.48 and a beta of 1.86.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates 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, research analysts expect that Symbotic will post 0.13 earnings per share for the current year.

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.