Deutsche Bank Aktiengesellschaft Increases Symbotic (NASDAQ:SYM) Price Target to $58.00

Symbotic (NASDAQ:SYM) had its price target hoisted by investment analysts at Deutsche Bank Aktiengesellschaft from $57.00 to $58.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 19.93% from the company’s previous close.

SYM has been the topic of several other reports. KeyCorp decreased their target price on shares of Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. Robert W. Baird raised their price target on Symbotic from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research note on Tuesday, February 6th. Northland Securities raised their price target on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.69.

Symbotic Stock Up 4.0 %

Shares of Symbotic stock opened at $48.36 on Tuesday. Symbotic has a 52 week low of $23.58 and a 52 week high of $64.14. The firm has a market capitalization of $27.91 billion, a P/E ratio of -179.11 and a beta of 1.97. The firm’s 50 day moving average is $43.30 and its two-hundred day moving average is $44.25.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $368.45 million for the quarter, compared to analyst estimates of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. As a group, research analysts expect that Symbotic will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Symbotic

In other news, insider Michael David Dunn sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $40.00, for a total transaction of $80,000.00. Following the completion of the transaction, the insider now directly owns 72,032 shares of the company’s stock, valued at $2,881,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Symbotic news, Director Merline Saintil sold 3,135 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $44.74, for a total value of $140,259.90. Following the sale, the director now owns 62,312 shares in the company, valued at $2,787,838.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael David Dunn sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the transaction, the insider now owns 72,032 shares of the company’s stock, valued at $2,881,280. The disclosure for this sale can be found here. Insiders sold a total of 7,110,447 shares of company stock worth $275,410,529 over the last 90 days. Insiders own 38.30% of the company’s stock.

Institutional Trading of Symbotic

Several hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its stake in Symbotic by 70.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 16,266 shares of the company’s stock worth $544,000 after purchasing an additional 6,743 shares in the last quarter. Raymond James & Associates grew its holdings in Symbotic by 19.5% in the 3rd quarter. Raymond James & Associates now owns 502,488 shares of the company’s stock valued at $16,798,000 after buying an additional 82,116 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Symbotic by 176.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 75,527 shares of the company’s stock worth $2,525,000 after acquiring an additional 48,214 shares during the period. Bank of New York Mellon Corp raised its position in shares of Symbotic by 15.3% during the third quarter. Bank of New York Mellon Corp now owns 60,466 shares of the company’s stock valued at $2,021,000 after buying an additional 8,041 shares during the last quarter. Finally, New World Advisors LLC acquired a new stake in shares of Symbotic during the 3rd quarter worth approximately $501,000.

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.