Symbotic Inc. (NASDAQ:SYM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM) have earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $54.00.

SYM has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their target price on Symbotic from $51.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Needham & Company LLC reduced their price objective on shares of Symbotic from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Northland Securities lifted their price objective on Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. William Blair restated a “market perform” rating on shares of Symbotic in a research note on Tuesday, February 6th. Finally, Robert W. Baird dropped their price target on shares of Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th.

Insider Buying and Selling at Symbotic

In other Symbotic news, major shareholder David A. Ladensohn sold 2,085,296 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.69, for a total transaction of $82,765,398.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder David A. Ladensohn sold 2,085,296 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $39.69, for a total transaction of $82,765,398.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard B. Cohen sold 5,000,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $38.32, for a total transaction of $191,600,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,188,628 shares of company stock worth $279,026,777. Insiders own 38.30% of the company’s stock.

Institutional Trading of Symbotic

Several hedge funds have recently modified their holdings of SYM. Van ECK Associates Corp purchased a new stake in shares of Symbotic during the fourth quarter worth about $26,000. National Bank of Canada FI raised its holdings in shares of Symbotic by 66.7% in the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock worth $35,000 after purchasing an additional 400 shares during the period. Providence Capital Advisors LLC purchased a new position in Symbotic in the third quarter valued at approximately $33,000. Pingora Partners LLC purchased a new stake in Symbotic during the 4th quarter worth $51,000. Finally, Centerpoint Advisors LLC purchased a new stake in shares of Symbotic in the fourth quarter worth about $62,000.

Symbotic Trading Down 5.2 %

NASDAQ SYM opened at $42.51 on Monday. The stock has a market cap of $24.53 billion, a price-to-earnings ratio of -157.44 and a beta of 1.91. Symbotic has a 52 week low of $22.40 and a 52 week high of $64.14. The company has a 50-day moving average price of $43.89 and a two-hundred day moving average price of $43.90.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The firm had revenue of $368.45 million for the quarter, compared to the consensus estimate 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, equities research analysts expect that Symbotic will post -0.02 earnings per share for the current fiscal 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.