Symbotic (NASDAQ:SYM) Price Target Cut to $25.00 by Analysts at The Goldman Sachs Group

Symbotic (NASDAQ:SYM - Free Report) had its target price lowered by The Goldman Sachs Group from $28.00 to $25.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms have also weighed in on SYM. BWS Financial reissued a "sell" rating and issued a $10.00 price objective on shares of Symbotic in a research report on Tuesday, January 21st. UBS Group cut their price target on Symbotic from $40.00 to $32.00 and set a "neutral" rating on the stock in a report on Friday, January 3rd. TD Cowen upped their target price on Symbotic from $43.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. KeyCorp reissued a "sector weight" rating on shares of Symbotic in a report on Wednesday, November 27th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 target price on shares of Symbotic in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $38.33.

Symbotic Stock Performance

Shares of Symbotic stock traded up $1.82 on Thursday, reaching $28.19. 3,506,564 shares of the stock were exchanged, compared to its average volume of 2,697,896. The firm's 50 day moving average is $27.13 and its 200-day moving average is $26.57. The firm has a market cap of $16.56 billion, a PE ratio of -402.66, a P/E/G ratio of 6.45 and a beta of 1.79. Symbotic has a one year low of $17.11 and a one year high of $50.40.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data 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%. On average, equities research analysts expect that Symbotic will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $24.04, for a total transaction of $48,080.00. Following the sale, the director now owns 214,036 shares in the company, valued at $5,145,425.44. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael David Dunn sold 5,365 shares of Symbotic stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $24.60, for a total value of $131,979.00. Following the sale, the insider now directly owns 31,860 shares of the company's stock, valued at approximately $783,756. This trade represents a 14.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,007 shares of company stock valued at $2,827,909. Company insiders own 0.60% of the company's stock.

Institutional Trading of Symbotic

A number of institutional investors have recently made changes to their positions in SYM. Baillie Gifford & Co. boosted its position in Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company's stock valued at $343,192,000 after acquiring an additional 3,410,050 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Symbotic in the fourth quarter worth $20,754,000. Exchange Traded Concepts LLC raised its holdings in Symbotic by 76.8% in 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 in the last quarter. Thematics Asset Management boosted its holdings in shares of Symbotic by 30.1% during the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company's stock valued at $25,565,000 after buying an additional 242,661 shares in the last quarter. Finally, TCW Group Inc. increased its stake in shares of Symbotic by 51.7% during the fourth quarter. TCW Group Inc. now owns 582,955 shares of the company's stock valued at $13,822,000 after purchasing an additional 198,681 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.