Symbotic Inc. (NASDAQ:SYM) Receives Consensus Rating of “Hold” from Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM) have been given an average rating of “Hold” by the seventeen research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $38.20.

A number of brokerages have recently issued reports on SYM. Raymond James cut shares of Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. Citigroup reissued a “buy” rating and issued a $37.00 price objective on shares of Symbotic in a research report on Monday, January 13th. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Wednesday, January 8th. BWS Financial restated a “sell” rating and set a $10.00 target price on shares of Symbotic in a report on Wednesday. Finally, UBS Group dropped their target price on Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th.

Insiders Place Their Bets

In related news, Director Rollin L. Ford sold 28,740 shares of Symbotic stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.02, for a total transaction of $747,814.80. Following the completion of the sale, the director now owns 10,447 shares of the company’s stock, valued at approximately $271,830.94. The trade was a 73.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael David Dunn sold 2,040 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.24, for a total transaction of $45,369.60. Following the transaction, the insider now directly owns 23,822 shares in the company, valued at approximately $529,801.28. This represents a 7.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,117 shares of company stock valued at $1,985,334. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SYM. Walmart Inc. bought a new position in Symbotic in the 4th quarter valued at about $355,650,000. Vanguard Group Inc. grew its stake in Symbotic by 41.3% during the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock valued at $117,846,000 after acquiring an additional 1,452,627 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Symbotic during the fourth quarter worth about $20,754,000. Invesco Ltd. increased its stake in Symbotic by 25.9% in the fourth quarter. Invesco Ltd. now owns 727,890 shares of the company’s stock valued at $17,258,000 after acquiring an additional 149,918 shares during the last quarter. Finally, TCW Group Inc. raised 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 worth $13,822,000 after acquiring an additional 198,681 shares in the last quarter.

Symbotic Trading Down 4.1 %

Shares of SYM stock opened at $17.50 on Monday. The firm’s 50 day moving average is $24.28 and its 200 day moving average is $26.61. Symbotic has a 12 month low of $16.32 and a 12 month high of $48.98. The stock has a market capitalization of $10.30 billion, a P/E ratio of -249.96, a PEG ratio of 6.48 and a beta of 1.85.

Symbotic (NASDAQ:SYM) last issued its earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. On average, equities analysts predict that Symbotic will post 0.13 EPS for the current 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.