UBS Group Lowers Symbotic (NASDAQ:SYM) Price Target to $30.00

Symbotic (NASDAQ:SYM) had its price objective cut by UBS Group from $32.00 to $30.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also issued reports on the company. Craig Hallum lowered Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research report on Wednesday, November 27th. The Goldman Sachs Group decreased their target price on shares of Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Needham & Company LLC cut their price target on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Oppenheimer assumed coverage on shares of Symbotic in a research report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price target for the company. Finally, Northland Securities upped their price objective on Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Symbotic presently has an average rating of “Hold” and an average price target of $38.20.

Symbotic Stock Performance

Shares of NASDAQ SYM opened at $22.94 on Tuesday. The company has a 50 day simple moving average of $27.12 and a two-hundred day simple moving average of $26.49. Symbotic has a fifty-two week low of $17.11 and a fifty-two week high of $50.40. The company has a market capitalization of $13.50 billion, a price-to-earnings ratio of -327.67, a P/E/G ratio of 6.48 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last posted 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 positive return on equity of 5.11% and a negative net margin of 0.38%. On average, analysts forecast that Symbotic will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Symbotic

In other news, insider William M. Boyd III sold 2,660 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total transaction of $73,416.00. Following the completion of the sale, the insider now owns 40,812 shares of the company’s stock, valued at $1,126,411.20. The trade was a 6.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael David Dunn sold 3,635 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $33.28, for a total value of $120,972.80. Following the completion of the sale, the insider now owns 24,272 shares of the company’s stock, valued at $807,772.16. This trade represents a 13.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,854 shares of company stock valued at $3,986,371. 0.60% of the stock is owned by company insiders.

Institutional Trading of Symbotic

Hedge funds have recently bought and sold shares of the stock. Alberta Investment Management Corp bought a new position in shares of Symbotic in the fourth quarter worth about $586,000. Geode Capital Management LLC raised its stake in Symbotic by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after acquiring an additional 46,721 shares during the period. Sanctuary Advisors LLC purchased a new position in Symbotic during the third quarter valued at approximately $1,029,000. Capital Market Strategies LLC purchased a new position in Symbotic during the fourth quarter valued at approximately $802,000. Finally, Baillie Gifford & Co. boosted its position in shares of Symbotic by 32.0% in the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after purchasing an additional 3,410,050 shares during the period.

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.