Symbotic Inc. (NASDAQ:SYM) Given Average Recommendation of “Hold” by Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM) have earned a consensus rating of “Hold” from the seventeen research firms that are covering the stock, 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 objective among analysts that have covered the stock in the last year is $38.20.

SYM has been the subject of several recent research reports. Citigroup reiterated a “buy” rating and set a $37.00 price target on shares of Symbotic in a research report on Monday, January 13th. TD Cowen boosted their target price on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. UBS Group lowered their price target on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Raymond James cut shares of Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 target price on shares of Symbotic in a research note on Thursday, February 6th.

Insider Activity at Symbotic

In related news, insider Michael David Dunn sold 1,971 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $30.00, for a total transaction of $59,130.00. Following the completion of the transaction, the insider now owns 22,301 shares of the company’s stock, valued at approximately $669,030. This trade represents a 8.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William M. Boyd III sold 2,660 shares of Symbotic stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total value of $73,416.00. Following the completion of the sale, the insider now directly owns 40,812 shares of the company’s stock, valued at $1,126,411.20. The trade was a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,987 shares of company stock valued at $2,065,252. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SYM. Walmart Inc. purchased a new position in shares of Symbotic in the 4th quarter valued at about $355,650,000. Baillie Gifford & Co. raised its holdings in Symbotic by 32.0% in the third 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. JPMorgan Chase & Co. raised its holdings in Symbotic by 100.6% in the fourth quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company’s stock valued at $411,000 after acquiring an additional 3,110,075 shares in the last quarter. Vanguard Group Inc. lifted its stake in Symbotic by 41.3% in the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock worth $117,846,000 after acquiring an additional 1,452,627 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Symbotic during the 4th quarter worth approximately $20,754,000.

Symbotic Stock Performance

Symbotic stock opened at $21.17 on Thursday. The business’s 50-day simple moving average is $26.78 and its two-hundred day simple moving average is $26.51. The company has a market cap of $12.46 billion, a PE ratio of -302.39, a PEG ratio of 6.48 and a beta of 1.85. Symbotic has a fifty-two week low of $17.11 and a fifty-two week high of $50.40.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. As a group, analysts predict that Symbotic will post 0.13 EPS for the current fiscal year.

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.