Symbotic (NASDAQ:SYM) PT Raised to $58.00 at Deutsche Bank Aktiengesellschaft

Symbotic (NASDAQ:SYM) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $57.00 to $58.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on SYM. KeyCorp decreased their price target on shares of Symbotic from $63.00 to $55.00 and set an overweight rating for the company in a research note on Tuesday, February 6th. DA Davidson raised Symbotic from a neutral rating to a buy rating and set a $50.00 target price for the company in a research report on Wednesday, February 7th. Cantor Fitzgerald reaffirmed an overweight rating and set a $60.00 price target on shares of Symbotic in a research report on Tuesday, February 6th. The Goldman Sachs Group decreased their price objective on Symbotic from $51.00 to $44.00 and set a neutral rating for the company in a report on Tuesday, February 6th. Finally, Northland Securities upped their price objective on shares of Symbotic from $55.00 to $60.00 and gave the company an outperform rating in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $55.77.

Symbotic Trading Up 10.9 %

SYM stock opened at $46.50 on Tuesday. Symbotic has a 1-year low of $23.58 and a 1-year high of $64.14. The stock has a market cap of $26.83 billion, a P/E ratio of -172.22 and a beta of 1.97. The stock’s fifty day simple moving average is $43.12 and its two-hundred day simple moving average is $44.22.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $368.45 million for the quarter, compared to the consensus estimate of $370.28 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. As a group, analysts forecast that Symbotic will post -0.03 earnings per share for the current fiscal year.

Insider Activity at Symbotic

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $39.39, for a total value of $78,780.00. Following the completion of the transaction, the director now directly owns 10,447 shares of the company’s stock, valued at approximately $411,507.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Richard B. Cohen sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $39.39, for a total transaction of $78,780.00. Following the sale, the director now owns 10,447 shares of the company’s stock, valued at $411,507.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,110,447 shares of company stock valued at $275,410,529. Corporate insiders own 38.30% of the company’s stock.

Institutional Trading of Symbotic

Several institutional investors and hedge funds have recently made changes to their positions in SYM. Commonwealth Equity Services LLC lifted its position in Symbotic by 70.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 16,266 shares of the company’s stock worth $544,000 after buying an additional 6,743 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Symbotic by 19.5% in the 3rd quarter. Raymond James & Associates now owns 502,488 shares of the company’s stock valued at $16,798,000 after purchasing an additional 82,116 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Symbotic by 176.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 75,527 shares of the company’s stock valued at $2,525,000 after purchasing an additional 48,214 shares during the last quarter. Bank of New York Mellon Corp raised its position in Symbotic by 15.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 60,466 shares of the company’s stock worth $2,021,000 after purchasing an additional 8,041 shares during the period. Finally, New World Advisors LLC bought a new stake in Symbotic in the third quarter worth $501,000.

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.