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

Symbotic Inc. (NASDAQ:SYM) has been assigned an average rating of “Hold” from the sixteen brokerages that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $65.2308.

Several research firms have commented on SYM. Weiss Ratings lowered shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of Symbotic from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. The Goldman Sachs Group decreased their target price on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a report on Tuesday, May 26th. DA Davidson reaffirmed a “buy” rating and set a $70.00 price target on shares of Symbotic in a report on Monday, May 11th. Finally, Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th.

Insider Activity at Symbotic

In related news, insider Maria G. Freve sold 2,265 shares of Symbotic stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $57.72, for a total transaction of $130,735.80. Following the sale, the insider directly owned 739 shares of the company’s stock, valued at approximately $42,655.08. The trade was a 75.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles Kane sold 2,000 shares of Symbotic stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $45.99, for a total transaction of $91,980.00. Following the sale, the director directly owned 89,852 shares in the company, valued at $4,132,293.48. This trade represents a 2.18% decrease in their ownership of the stock. 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 sold a total of 153,845 shares of company stock worth $8,601,544 in the last ninety days. Insiders own 8.16% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Symbotic by 47.6% during the 4th quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock valued at $412,463,000 after purchasing an additional 2,237,137 shares during the last quarter. Morgan Stanley grew its holdings in shares of Symbotic by 85.4% during the 4th quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock valued at $150,587,000 after purchasing an additional 1,165,513 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Symbotic by 51,346.1% during the 4th quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock valued at $129,375,000 after purchasing an additional 2,178,615 shares during the last quarter. UBS Group AG grew its holdings in shares of Symbotic by 22.3% during the 3rd quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock valued at $59,601,000 after purchasing an additional 201,547 shares during the last quarter. Finally, Ghisallo Capital Management LLC bought a new stake in Symbotic during the 4th quarter worth approximately $63,034,000.

Symbotic Stock Down 7.2%

SYM stock opened at $44.02 on Friday. Symbotic has a 12 month low of $27.26 and a 12 month high of $87.88. The firm has a market cap of $26.53 billion, a P/E ratio of -880.22, a P/E/G ratio of 6.99 and a beta of 1.91. The company’s 50-day moving average price is $53.78 and its two-hundred day moving average price is $57.67.

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

Symbotic Company Profile

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.