UBS Group Cuts Symbotic (NASDAQ:SYM) Price Target to $32.00

Symbotic (NASDAQ:SYM) had its price target trimmed by UBS Group from $40.00 to $32.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

SYM has been the topic of several other research reports. DA Davidson lowered Symbotic from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $50.00 to $35.00 in a report on Wednesday, November 27th. BWS Financial reiterated a “sell” rating and set a $10.00 target price on shares of Symbotic in a report on Tuesday, November 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 target price on shares of Symbotic in a report on Tuesday, November 19th. TD Cowen upped their target price on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Northland Securities upped their price objective on Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Symbotic currently has an average rating of “Hold” and an average price target of $41.79.

Symbotic Price Performance

SYM stock opened at $25.64 on Friday. The stock has a market capitalization of $15.06 billion, a P/E ratio of -427.33 and a beta of 1.73. The business has a 50-day moving average of $28.58 and a 200-day moving average of $27.98. Symbotic has a fifty-two week low of $17.11 and a fifty-two week high of $52.20.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The company had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $470.24 million. During the same period in the prior year, the firm earned ($0.08) earnings per share. Symbotic’s revenue for the quarter was up 47.2% compared to the same quarter last year. Equities analysts expect that Symbotic will post 0.12 EPS for the current year.

Insider Transactions at Symbotic

In related news, insider Michael David Dunn sold 5,365 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $24.60, for a total transaction of $131,979.00. Following the sale, the insider now owns 31,860 shares of the company’s stock, valued at $783,756. This represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Carol J. Hibbard sold 22,821 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the sale, the chief financial officer now directly owns 34,188 shares in the company, valued at $990,084.48. This represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,844 shares of company stock worth $3,220,351. Company insiders own 38.30% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Large investors have recently added to or reduced their stakes in the stock. Castleview Partners LLC grew its position in Symbotic by 50.0% during the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after buying an additional 500 shares in the last quarter. Quarry LP acquired a new stake in shares of Symbotic in the 2nd quarter valued at $65,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Symbotic in the 3rd quarter valued at $49,000. RiverPark Advisors LLC boosted 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 valued at $50,000 after purchasing an additional 1,211 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of Symbotic by 19,307.7% in the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after purchasing an additional 2,510 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.