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

Symbotic (NASDAQ:SYM) had its price objective reduced by The Goldman Sachs Group from $28.00 to $25.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts also recently issued reports about the stock. UBS Group dropped their price objective on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. BWS Financial restated a “sell” rating and set a $10.00 price target on shares of Symbotic in a research note on Tuesday, January 21st. Oppenheimer assumed coverage on shares of Symbotic in a research note on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price objective for the company. Craig Hallum downgraded Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research report on Wednesday, November 27th. Finally, Raymond James cut Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Symbotic has a consensus rating of “Hold” and a consensus price target of $38.33.

Symbotic Stock Down 15.9 %

Symbotic stock opened at $25.99 on Thursday. The company has a market capitalization of $15.27 billion, a P/E ratio of -433.17, a P/E/G ratio of 7.29 and a beta of 1.79. The firm has a 50 day moving average price of $27.11 and a 200-day moving average price of $26.82. Symbotic has a twelve month low of $17.11 and a twelve month high of $50.40.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. Equities analysts expect that Symbotic will post 0.13 EPS for the current fiscal year.

Insider Transactions at Symbotic

In related news, insider Michael David Dunn sold 63,867 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $30.08, for a total value of $1,921,119.36. Following the completion of the sale, the insider now owns 24,055 shares in the company, valued at $723,574.40. The trade was a 72.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $24.04, for a total value of $48,080.00. Following the completion of the sale, the director now directly owns 214,036 shares of the company’s stock, valued at approximately $5,145,425.44. This represents a 0.93 % 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. Insiders own 0.60% of the company’s stock.

Institutional Trading of Symbotic

Hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc grew its stake in shares of Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after buying an additional 503 shares during the last quarter. Castleview Partners LLC boosted its holdings in Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares during the period. Private Trust Co. NA bought a new position in Symbotic during the 4th quarter worth approximately $47,000. Arcadia Investment Management Corp MI purchased a new position in Symbotic in the 3rd quarter worth approximately $49,000. Finally, RiverPark Advisors LLC lifted its position in Symbotic by 147.1% in the third 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 during 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.