Symbotic Inc. (NASDAQ:SYM) Receives $65.23 Average PT from Brokerages

Symbotic Inc. (NASDAQ:SYM – Get Free Report) has earned a consensus rating of “Hold” from the sixteen analysts that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $65.2308.

Several equities research analysts have recently commented on SYM shares. Weiss Ratings downgraded Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Barclays boosted their price objective on Symbotic from $42.00 to $44.00 and gave the company an “underweight” rating in a report on Monday, March 16th. The Goldman Sachs Group decreased their price target on Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a report on Tuesday, May 26th. Finally, DA Davidson reiterated a “buy” rating and set a $70.00 price target on shares of Symbotic in a report on Monday, May 11th.

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Insider Buying and Selling at Symbotic

In related news, CTO James Kuffner sold 3,878 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.51, for a total transaction of $207,511.78. Following the completion of the sale, the chief technology officer owned 185,126 shares in the company, valued at approximately $9,906,092.26. This represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $47.30, for a total value of $94,600.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 137,316 shares of company stock valued at $7,747,335 in the last three months. Insiders own 8.16% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Several institutional investors have recently bought and sold shares of SYM. MAI Capital Management boosted its position in Symbotic by 833.3% in the third quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Symbotic by 100.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after purchasing an additional 268 shares during the last quarter. Quarry LP purchased a new position in Symbotic in the fourth quarter worth $36,000. Parallel Advisors LLC boosted its position in Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after purchasing an additional 249 shares during the last quarter. Finally, Ameriflex Group Inc. boosted its position in Symbotic by 1,500.0% in the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after purchasing an additional 660 shares during the last quarter.

Symbotic Stock Up 6.7%

NASDAQ SYM opened at $44.95 on Wednesday. The company has a market cap of $27.09 billion, a price-to-earnings ratio of -898.82, a P/E/G ratio of 6.22 and a beta of 1.91. Symbotic has a 52 week low of $38.19 and a 52 week high of $87.88. The business has a 50 day moving average price of $49.42 and a 200-day moving average price of $54.65.

Symbotic (NASDAQ:SYM – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.11). The firm had revenue of $676.48 million for the quarter, compared to the consensus estimate of $662.66 million. Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The company’s revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) EPS. On average, equities research analysts anticipate that Symbotic will post 0.23 earnings per share for the current year.

About Symbotic

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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.

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