Analysts Set Symbotic Inc. (NASDAQ:SYM) Price Target at $43.23

Shares of Symbotic Inc. (NASDAQ:SYM) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $43.23.

Several equities research analysts recently issued reports on SYM shares. Needham & Company LLC reduced their price objective on Symbotic from $54.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Citigroup decreased their price target on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a research note on Friday, October 11th. Robert W. Baird decreased their target price on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, Vertical Research initiated coverage on shares of Symbotic in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $45.00 price target on the stock.

Symbotic Stock Performance

NASDAQ SYM opened at $32.54 on Friday. The firm’s 50 day moving average price is $25.08 and its two-hundred day moving average price is $31.58. The stock has a market cap of $19.05 billion, a price-to-earnings ratio of -171.26 and a beta of 1.81. Symbotic has a twelve month low of $17.11 and a twelve month high of $59.82.

Insider Activity at Symbotic

In related news, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total transaction of $660,896.16. Following the completion of the sale, the chief financial officer now directly owns 34,188 shares of the company’s stock, valued at approximately $990,084.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Carol J. Hibbard sold 22,821 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total transaction of $660,896.16. Following the completion of the transaction, the chief financial officer now owns 34,188 shares of the company’s stock, valued at approximately $990,084.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William M. Boyd III sold 8,826 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.33, for a total value of $250,040.58. Following the completion of the sale, the insider now directly owns 23,012 shares in the company, valued at $651,929.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,878 shares of company stock valued at $1,378,056. Corporate insiders own 38.30% of the company’s stock.

Institutional Trading of Symbotic

A number of hedge funds have recently bought and sold shares of the stock. RiverPark Advisors LLC bought a new stake in shares of Symbotic in the 1st quarter worth approximately $37,000. Castleview Partners LLC lifted its position in Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Symbotic during the third quarter worth $49,000. RFP Financial Group LLC increased its holdings in Symbotic by 22.4% in the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock valued at $59,000 after buying an additional 310 shares during the period. Finally, Quest Partners LLC raised its stake 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 buying an additional 2,510 shares in the last quarter.

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.