Symbotic Inc. (NASDAQ:SYM) Receives $43.23 Consensus Price Target from Analysts

Symbotic Inc. (NASDAQ:SYM) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $43.23.

SYM has been the subject of a number of recent analyst reports. Robert W. Baird cut their price target on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. BWS Financial reaffirmed a “sell” rating and issued a $10.00 target price on shares of Symbotic in a report on Friday, October 11th. Vertical Research started coverage on Symbotic in a report on Tuesday, July 23rd. They set a “hold” rating and a $45.00 price target for the company. Citigroup dropped their price objective on Symbotic from $62.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research report on Friday, October 11th.

Symbotic Stock Up 2.7 %

SYM stock opened at $29.30 on Friday. Symbotic has a 52 week low of $17.11 and a 52 week high of $59.82. The business has a 50-day simple moving average of $24.59 and a 200 day simple moving average of $31.57. The company has a market cap of $17.16 billion, a PE ratio of -154.21 and a beta of 1.81.

Insider Transactions at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total value of $37,500.00. Following the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at $4,013,175. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider William M. Boyd III sold 8,826 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $28.33, for a total transaction of $250,040.58. Following the completion of the sale, the insider now owns 23,012 shares in the company, valued at $651,929.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total value of $37,500.00. Following the completion of the transaction, the director now owns 214,036 shares in the company, valued at approximately $4,013,175. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,057 shares of company stock worth $660,860. Company insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. RFP Financial Group LLC lifted its position in Symbotic by 21.2% in the 1st quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock valued at $62,000 after acquiring an additional 242 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Symbotic by 11.6% during the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $123,000 after buying an additional 284 shares during the last quarter. Castleview Partners LLC increased its position in shares of Symbotic by 50.0% during the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares during the last quarter. California State Teachers Retirement System boosted its position in Symbotic by 4.5% in the first quarter. California State Teachers Retirement System now owns 15,057 shares of the company’s stock worth $678,000 after purchasing an additional 654 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Symbotic by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock valued at $304,000 after purchasing an additional 679 shares during the period.

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.