Symbotic Inc. (NASDAQ:SYM) Receives Consensus Recommendation of “Hold” from Analysts

Symbotic Inc. (NASDAQ:SYM) has earned an average rating of “Hold” from the eighteen research firms that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $56.7857.

SYM has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Monday, January 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Symbotic in a report on Thursday. The Goldman Sachs Group reissued a “sell” rating and set a $50.00 price target on shares of Symbotic in a research report on Thursday, January 15th. Oppenheimer restated an “outperform” rating and set a $83.00 price objective on shares of Symbotic in a research report on Tuesday, November 25th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Symbotic in a research note on Wednesday, December 3rd.

Symbotic Trading Down 2.3%

SYM stock opened at $62.08 on Friday. Symbotic has a one year low of $16.32 and a one year high of $87.88. The firm has a 50-day moving average of $64.46 and a two-hundred day moving average of $59.92. The firm has a market capitalization of $36.72 billion, a PE ratio of -413.87, a P/E/G ratio of 17.61 and a beta of 2.13.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The firm had revenue of $618.46 million for the quarter, compared to analyst estimates of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. On average, equities research analysts anticipate that Symbotic will post 0.13 earnings per share for the current year.

Insider Transactions at Symbotic

In other news, CTO James Kuffner sold 8,348 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $81.30, for a total transaction of $678,692.40. Following the transaction, the chief technology officer directly owned 30,640 shares in the company, valued at $2,491,032. The trade was a 21.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Merline Saintil sold 9,000 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $84.72, for a total transaction of $762,480.00. Following the completion of the transaction, the director directly owned 68,413 shares in the company, valued at $5,795,949.36. This trade represents a 11.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 7,065,981 shares of company stock worth $377,394,265. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SYM. Vanguard Group Inc. raised its stake in shares of Symbotic by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,695,021 shares of the company’s stock valued at $253,062,000 after acquiring an additional 98,384 shares in the last quarter. UBS Group AG boosted its position in Symbotic by 22.3% during the third quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock worth $59,601,000 after purchasing an additional 201,547 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Symbotic by 23.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 726,411 shares of the company’s stock valued at $47,122,000 after purchasing an additional 136,111 shares during the last quarter. ARK Investment Management LLC raised its position in shares of Symbotic by 32.4% in the third quarter. ARK Investment Management LLC now owns 589,887 shares of the company’s stock valued at $31,795,000 after purchasing an additional 144,389 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Symbotic by 0.9% in the second quarter. Geode Capital Management LLC now owns 551,216 shares of the company’s stock valued at $21,419,000 after purchasing an additional 4,892 shares during the period.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.