Symbotic Inc. (NASDAQ:SYM) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Symbotic Inc. (NASDAQ:SYM) has a consensus recommendation of "Hold" from seventeen research firms, with one sell rating, nine hold ratings, and seven buy ratings, while the average price target is set at $39.87.
• The company's stock opened at $50.85 and has experienced significant fluctuations, with a fifty-two week low of $16.32 and a high of $55.75.
• Insider transactions show that key executives have sold shares recently, indicating a 12.61% decrease in ownership for one insider, signaling potential caution for investors.

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) have been given a consensus rating of "Hold" by the seventeen research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $39.8667.

SYM has been the topic of several recent analyst reports. Oppenheimer reiterated an "outperform" rating and issued a $54.00 target price (up from $35.00) on shares of Symbotic in a report on Wednesday, July 16th. Arete Research cut shares of Symbotic from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Citigroup restated a "buy" rating on shares of Symbotic in a report on Monday, July 14th. Arete downgraded shares of Symbotic from a "buy" rating to a "neutral" rating and set a $50.00 target price for the company. in a research note on Friday, July 25th. Finally, The Goldman Sachs Group decreased their price target on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, April 10th.

Insider Transactions at Symbotic

In other Symbotic news, Director Daniela L. Rus sold 2,706 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $49.00, for a total transaction of $132,594.00. Following the transaction, the director owned 23,729 shares in the company, valued at approximately $1,162,721. This represents a 10.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Carol J. Hibbard sold 6,293 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $55.42, for a total transaction of $348,758.06. Following the sale, the chief financial officer owned 61,971 shares in the company, valued at approximately $3,434,432.82. The trade was a 9.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,536 shares of company stock valued at $3,369,969. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Symbotic

Several hedge funds have recently modified their holdings of the business. Sei Investments Co. purchased a new position in Symbotic during the 4th quarter worth $1,383,000. KLP Kapitalforvaltning AS acquired a new position in shares of Symbotic during the fourth quarter valued at about $194,000. LPL Financial LLC lifted its stake in shares of Symbotic by 31.5% during the fourth quarter. LPL Financial LLC now owns 43,167 shares of the company's stock worth $1,023,000 after buying an additional 10,341 shares during the period. Vanguard Group Inc. grew its holdings in shares of Symbotic by 41.3% during the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock valued at $117,846,000 after buying an additional 1,452,627 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Symbotic by 100.6% in the 4th quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company's stock valued at $411,000 after acquiring an additional 3,110,075 shares during the period.

Symbotic Price Performance

SYM stock traded down $0.73 during mid-day trading on Friday, reaching $62.48. The company had a trading volume of 1,218,754 shares, compared to its average volume of 1,939,190. The firm has a 50 day moving average of $41.42 and a 200 day moving average of $30.25. Symbotic has a 12 month low of $16.32 and a 12 month high of $64.16. The company has a market capitalization of $36.84 billion, a PE ratio of -1,565.25, a price-to-earnings-growth ratio of 58.93 and a beta of 2.06.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). Symbotic had a negative return on equity of 1.26% and a negative net margin of 0.23%. The firm had revenue of $549.65 million during the quarter, compared to analysts' expectations of $522.36 million. During the same period in the prior year, the firm posted ($0.07) earnings per share. Symbotic's revenue for the quarter was up 39.7% compared to the same quarter last year. Analysts anticipate that Symbotic will post 0.13 EPS for the current year.

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.