Symbotic Inc. (NASDAQ:SYM) Given Consensus Recommendation of “Hold” by Analysts

Symbotic Inc. (NASDAQ:SYM) has earned an average recommendation of “Hold” from the nineteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $56.50.

A number of analysts have commented on SYM shares. Oppenheimer reaffirmed an “outperform” rating and issued a $83.00 price target on shares of Symbotic in a research report on Tuesday, November 25th. DA Davidson reaffirmed a “neutral” rating and set a $47.00 target price on shares of Symbotic in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft increased their price target on Symbotic from $55.00 to $63.00 and gave the company a “hold” rating in a research report on Tuesday, November 25th. Cantor Fitzgerald upped their target price on shares of Symbotic from $60.00 to $82.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Finally, Wall Street Zen upgraded shares of Symbotic from a “sell” rating to a “hold” rating in a report on Sunday, November 30th.

Insider Transactions at Symbotic

In related news, major shareholder Svf Sponsor Iii (De) Llc sold 3,500,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $53.21, for a total value of $186,235,000.00. Following the transaction, the insider directly owned 5,590,000 shares of the company’s stock, valued at approximately $297,443,900. The trade was a 38.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Merline Saintil sold 9,000 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $84.72, for a total transaction of $762,480.00. Following the transaction, the director owned 68,413 shares of the company’s stock, valued at approximately $5,795,949.36. The trade was a 11.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 7,085,508 shares of company stock worth $378,774,555. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Symbotic

A number of large investors have recently bought and sold shares of the company. MAI Capital Management lifted its holdings in Symbotic by 833.3% during the third quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after purchasing an additional 500 shares during the last quarter. Ameriflex Group Inc. lifted its stake in shares of Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock valued at $38,000 after buying an additional 660 shares in the last quarter. Strategic Advocates LLC bought a new position in Symbotic in the 3rd quarter worth approximately $42,000. IAG Wealth Partners LLC bought a new position in Symbotic in the 2nd quarter worth approximately $32,000. Finally, AdvisorNet Financial Inc purchased a new position in Symbotic in the 2nd quarter valued at approximately $32,000.

Symbotic Stock Down 3.1%

Shares of NASDAQ SYM opened at $60.25 on Friday. The company has a market capitalization of $35.64 billion, a PE ratio of -401.67, a P/E/G ratio of 17.64 and a beta of 2.10. The firm has a fifty day simple moving average of $68.42 and a 200 day simple moving average of $53.35. Symbotic has a twelve month low of $16.32 and a twelve month high of $87.88.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Monday, November 24th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). The company had revenue of $618.46 million during the quarter, compared to the consensus estimate of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The business’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. As a group, equities analysts expect that Symbotic will post 0.13 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.