Symbotic (NASDAQ:SYM) Given New $60.00 Price Target at Northland Securities

Symbotic (NASDAQ:SYM - Get Free Report) had its price objective boosted by investment analysts at Northland Securities from $55.00 to $60.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Northland Securities' target price would indicate a potential upside of 34.83% from the company's current price.

Several other equities analysts have also recently commented on SYM. DA Davidson raised shares of Symbotic from a "neutral" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Wednesday, February 7th. Robert W. Baird decreased their target price on Symbotic from $54.00 to $52.00 and set an "outperform" rating for the company in a research report on Tuesday, February 6th. KeyCorp dropped their price target on Symbotic from $63.00 to $55.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 6th. Cantor Fitzgerald restated an "overweight" rating and set a $60.00 price objective on shares of Symbotic in a research note on Tuesday, February 6th. Finally, Needham & Company LLC lowered their target price on shares of Symbotic from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.00.

Symbotic Stock Down 3.3 %

Shares of Symbotic stock traded down $1.50 during trading hours on Wednesday, hitting $44.50. 918,382 shares of the company's stock traded hands, compared to its average volume of 1,496,268. Symbotic has a twelve month low of $22.40 and a twelve month high of $64.14. The company has a market cap of $25.68 billion, a PE ratio of -167.11 and a beta of 1.91. The stock has a 50 day simple moving average of $44.06 and a 200-day simple moving average of $43.63.

Symbotic (NASDAQ:SYM - Get Free Report) last issued 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 return on equity of 35.06% and a negative net margin of 1.39%. The firm had revenue of $368.45 million during the quarter, compared to analyst estimates of $370.28 million. As a group, equities research analysts predict that Symbotic will post -0.02 EPS for the current year.

Insider Activity

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the business's stock in a transaction on Monday, February 5th. The stock was sold at an average price of $51.50, for a total transaction of $103,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Richard B. Cohen sold 5,000,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the business's stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $51.50, for a total value of $103,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,188,628 shares of company stock valued at $279,026,777. Insiders own 38.30% of the company's stock.

Institutional Investors Weigh In On Symbotic

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its position in shares of Symbotic by 195.5% during the 3rd quarter. Barclays PLC now owns 8,008 shares of the company's stock valued at $268,000 after acquiring an additional 5,298 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Symbotic in the 3rd quarter valued at $545,000. LPL Financial LLC increased its stake in Symbotic by 578.0% in the 3rd quarter. LPL Financial LLC now owns 102,059 shares of the company's stock worth $3,412,000 after purchasing an additional 87,006 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Symbotic by 176.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 75,527 shares of the company's stock worth $2,525,000 after buying an additional 48,214 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Symbotic during the third quarter valued at about $1,101,000.

Symbotic Company Profile

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.