Northland Securities Increases Symbotic (NASDAQ:SYM) Price Target to $53.00

Symbotic (NASDAQ:SYM - Free Report) had its target price upped by Northland Securities from $50.00 to $53.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts also recently weighed in on SYM. Robert W. Baird lowered their target price on Symbotic from $53.00 to $41.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 31st. Vertical Research assumed coverage on shares of Symbotic in a research report on Tuesday, July 23rd. They set a "hold" rating and a $45.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Symbotic from $58.00 to $59.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. Needham & Company LLC reduced their price objective on shares of Symbotic from $54.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, July 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 target price on shares of Symbotic in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $44.54.

Symbotic Stock Up 27.8 %

Symbotic stock traded up $8.49 during mid-day trading on Tuesday, hitting $39.05. The company had a trading volume of 9,810,711 shares, compared to its average volume of 1,608,623. The stock has a market cap of $22.87 billion, a price-to-earnings ratio of -209.47 and a beta of 1.81. Symbotic has a 1 year low of $17.11 and a 1 year high of $59.82. The business has a fifty day moving average of $27.00 and a 200 day moving average of $31.09.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. The firm had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. Symbotic's revenue for the quarter was up 47.2% on a year-over-year basis. Equities analysts anticipate that Symbotic will post -0.08 earnings per share for the current year.

Insider Activity

In other news, Director Todd Krasnow sold 2,000 shares of the company's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $28.15, for a total value of $56,300.00. Following the completion of the sale, the director now directly owns 214,036 shares of the company's stock, valued at $6,025,113.40. This represents a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael David Dunn sold 5,266 shares of Symbotic stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $23.81, for a total transaction of $125,383.46. Following the transaction, the insider now directly owns 85,224 shares in the company, valued at $2,029,183.44. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,878 shares of company stock valued at $1,378,056. Company insiders own 38.30% of the company's stock.

Institutional Trading of Symbotic

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Baillie Gifford & Co. increased its stake in Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company's stock worth $343,192,000 after acquiring an additional 3,410,050 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Symbotic by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company's stock worth $109,189,000 after acquiring an additional 345,386 shares during the period. Thematics Asset Management raised its position in Symbotic by 30.1% during the third quarter. Thematics Asset Management now owns 1,048,170 shares of the company's stock valued at $25,565,000 after purchasing an additional 242,661 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Symbotic by 76.8% during the third quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company's stock worth $21,317,000 after purchasing an additional 379,726 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Symbotic by 191.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company's stock valued at $27,281,000 after purchasing an additional 509,700 shares in 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.