Symbotic (NASDAQ:SYM) Research Coverage Started at Vertical Research

Vertical Research began coverage on shares of Symbotic (NASDAQ:SYM) in a report issued on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a hold rating and a $45.00 target price on the stock.

Other equities research analysts also recently issued reports about the stock. BWS Financial assumed coverage on shares of Symbotic in a research report on Monday, July 22nd. They set a sell rating and a $10.00 price target for the company. Craig Hallum lifted their price target on shares of Symbotic from $55.00 to $60.00 and gave the company a buy rating in a research report on Wednesday, May 8th. William Blair reiterated a market perform rating on shares of Symbotic in a research report on Friday, May 10th. Needham & Company LLC restated a buy rating and set a $54.00 price objective on shares of Symbotic in a research report on Tuesday, May 7th. Finally, Robert W. Baird lifted their price objective on Symbotic from $52.00 to $53.00 and gave the stock an outperform rating in a research report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $52.50.

Symbotic Trading Up 2.5 %

Shares of SYM opened at $38.80 on Tuesday. Symbotic has a twelve month low of $29.62 and a twelve month high of $64.14. The stock’s 50 day moving average is $37.73 and its two-hundred day moving average is $41.34. The firm has a market capitalization of $22.68 billion, a PE ratio of -161.66 and a beta of 1.87.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.25. Symbotic had a positive return on equity of 5.27% and a negative net margin of 1.27%. The company had revenue of $424.30 million for the quarter, compared to analyst estimates of $415.98 million. On average, sell-side analysts predict that Symbotic will post -0.03 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder David A. Ladensohn sold 50,000 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $40.89, for a total transaction of $2,044,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder David A. Ladensohn sold 50,000 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $40.89, for a total transaction of $2,044,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Janet L. Cohen sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $43.26, for a total transaction of $1,081,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 143,281 shares of company stock valued at $5,689,053. Company insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On Symbotic

A number of institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp acquired a new stake in shares of Symbotic in the 4th quarter valued at about $26,000. RiverPark Advisors LLC acquired a new stake in shares of Symbotic in the 1st quarter valued at about $37,000. Global Retirement Partners LLC raised its stake in shares of Symbotic by 166.7% in the 1st quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock valued at $48,000 after purchasing an additional 660 shares in the last quarter. Pingora Partners LLC acquired a new stake in shares of Symbotic in the 4th quarter valued at about $51,000. Finally, RFP Financial Group LLC raised its stake in shares of Symbotic by 22.4% in the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock valued at $59,000 after purchasing an additional 310 shares in the last quarter.

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.