Analysts Set Symbotic Inc. (NASDAQ:SYM) PT at $37.20

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) have been given an average recommendation of "Hold" by the seventeen ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine 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 $37.20.

A number of brokerages have commented on SYM. UBS Group decreased their price objective on Symbotic from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Raymond James lowered Symbotic from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. Northland Securities lifted their price objective on shares of Symbotic from $35.00 to $41.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. BWS Financial reiterated a "sell" rating and issued a $10.00 target price on shares of Symbotic in a report on Wednesday, April 2nd. Finally, Oppenheimer started coverage on shares of Symbotic in a research report on Wednesday, January 15th. They set an "outperform" rating and a $35.00 price target on the stock.

Symbotic Price Performance

Shares of NASDAQ:SYM traded down $0.40 during trading on Friday, reaching $21.58. 760,457 shares of the stock were exchanged, compared to its average volume of 1,931,477. Symbotic has a 1-year low of $16.32 and a 1-year high of $48.98. The stock has a fifty day moving average of $21.31 and a two-hundred day moving average of $26.06. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of -308.24, a price-to-earnings-growth ratio of 6.48 and a beta of 1.86.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. Sell-side analysts forecast that Symbotic will post 0.13 EPS for the current year.

Insider Activity at Symbotic

In related news, insider William M. Boyd III sold 2,660 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $20.62, for a total value of $54,849.20. Following the sale, the insider now owns 36,999 shares in the company, valued at approximately $762,919.38. This trade represents a 6.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Maria G. Freve sold 1,929 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $21.69, for a total value of $41,840.01. Following the transaction, the insider now owns 2,646 shares of the company's stock, valued at approximately $57,391.74. The trade was a 42.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,957 shares of company stock worth $1,573,931. Company insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Symbotic

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of Symbotic by 2.6% in the 3rd quarter. State Street Corp now owns 319,235 shares of the company's stock worth $7,786,000 after buying an additional 7,990 shares during the last quarter. Barclays PLC increased its stake in Symbotic by 1,105.9% in the third quarter. Barclays PLC now owns 9,346 shares of the company's stock valued at $228,000 after acquiring an additional 8,571 shares during the last quarter. Geode Capital Management LLC raised its position in Symbotic by 10.2% during the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company's stock valued at $12,290,000 after purchasing an additional 46,721 shares in the last quarter. 1ST Source Bank bought a new stake in Symbotic during the third quarter worth about $488,000. Finally, Capital Market Strategies LLC purchased a new position in shares of Symbotic in the 4th quarter worth about $802,000.

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.