Symbotic Inc. (NASDAQ:SYM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM) have been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $52.85.

A number of brokerages recently weighed in on SYM. William Blair reiterated a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Needham & Company LLC reduced their price target on shares of Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a report on Wednesday, February 7th. KeyCorp reduced their price target on shares of Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, February 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a report on Tuesday, February 6th.

Symbotic Trading Down 5.6 %

SYM stock opened at $45.23 on Thursday. Symbotic has a 12 month low of $20.70 and a 12 month high of $64.14. The company has a 50-day moving average price of $43.76 and a 200 day moving average price of $42.78. The stock has a market cap of $26.10 billion, a PE ratio of -167.52 and a beta of 1.90.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. The company had revenue of $368.45 million during the quarter, compared to analyst estimates of $370.28 million. Sell-side analysts forecast that Symbotic will post -0.02 EPS for the current year.

Insider Transactions at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $50.49, for a total value of $100,980.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Symbotic news, insider Richard B. Cohen sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $38.32, for a total transaction of $191,600,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $50.49, for a total transaction of $100,980.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,328,104 shares of company stock valued at $285,346,932 in the last 90 days. Insiders own 38.30% of the company’s stock.

Institutional Trading of Symbotic

Large investors have recently bought and sold shares of the stock. Softbank Group CORP. increased its stake in shares of Symbotic by 1,000.0% in the first quarter. Softbank Group CORP. now owns 22,000,000 shares of the company’s stock worth $502,480,000 after acquiring an additional 20,000,000 shares during the period. Frontier Capital Management Co. LLC increased its stake in shares of Symbotic by 202.3% in the first quarter. Frontier Capital Management Co. LLC now owns 1,041,144 shares of the company’s stock worth $23,780,000 after acquiring an additional 696,727 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Symbotic by 189.5% in the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock worth $54,174,000 after acquiring an additional 690,900 shares during the period. FMR LLC increased its stake in shares of Symbotic by 759.7% in the first quarter. FMR LLC now owns 383,593 shares of the company’s stock worth $8,761,000 after acquiring an additional 338,975 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Symbotic in the first quarter worth $6,538,000.

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.