Symbotic (NASDAQ:SYM) Given Market Perform Rating at William Blair

Symbotic (NASDAQ:SYMGet Free Report)‘s stock had its “market perform” rating reiterated by analysts at William Blair in a research note issued to investors on Tuesday, RTT News reports.

SYM has been the subject of a number of other reports. The Goldman Sachs Group upped their price objective on shares of Symbotic from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a report on Tuesday, November 21st. KeyCorp dropped their price target on Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Needham & Company LLC dropped their target price on shares of Symbotic from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Read Our Latest Research Report on SYM

Symbotic Stock Down 1.7 %

SYM stock opened at $49.60 on Tuesday. The stock’s 50 day moving average is $48.64 and its 200-day moving average is $42.71. Symbotic has a twelve month low of $14.14 and a twelve month high of $64.14. The firm has a market capitalization of $27.64 billion, a PE ratio of -134.05 and a beta of 2.02.

Symbotic (NASDAQ:SYMGet Free Report) last posted its quarterly earnings data on Monday, November 20th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Symbotic had a negative return on equity of 105.30% and a negative net margin of 2.03%. The firm had revenue of $391.89 million for the quarter, compared to analysts’ expectations of $306.89 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. Symbotic’s revenue was up 60.3% compared to the same quarter last year. On average, equities research analysts anticipate that Symbotic will post -0.02 earnings per share for the current fiscal year.

Insider Activity at Symbotic

In other news, major shareholder David A. Ladensohn sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $58.48, for a total value of $1,169,600.00. Following the completion of the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at $877,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Symbotic news, insider Michael David Dunn sold 7,051 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $45.00, for a total value of $317,295.00. Following the sale, the insider now directly owns 65,646 shares in the company, valued at approximately $2,954,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Ladensohn sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $58.48, for a total transaction of $1,169,600.00. Following the completion of the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at $877,200. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 491,306 shares of company stock worth $24,187,258. 38.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Symbotic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYM. Van ECK Associates Corp bought a new position in shares of Symbotic in the 4th quarter worth $26,000. Rockefeller Capital Management L.P. purchased a new position in Symbotic in the fourth quarter worth $29,000. Providence Capital Advisors LLC bought a new position in Symbotic in the third quarter valued at $33,000. National Bank of Canada FI raised its position in Symbotic by 66.7% during the third quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock valued at $35,000 after purchasing an additional 400 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Symbotic by 1,412.0% during the first quarter. JPMorgan Chase & Co. now owns 1,512 shares of the company’s stock worth $35,000 after purchasing an additional 1,412 shares during the last quarter.

About Symbotic

(Get Free Report)

Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software.

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Analyst Recommendations for Symbotic (NASDAQ:SYM)

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