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

Symbotic (NASDAQ:SYM) had its price objective dropped by equities researchers at UBS Group from $32.00 to $30.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential upside of 29.34% from the stock’s current price.

SYM has been the topic of a number of other research reports. TD Cowen upped their target price on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group lowered their target price on Symbotic from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Citigroup restated a “buy” rating and set a $37.00 price target on shares of Symbotic in a report on Monday, January 13th. Raymond James cut shares of Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. Finally, BWS Financial reiterated a “sell” rating and set a $10.00 price target on shares of Symbotic in a research report on Tuesday, January 21st. One equities research 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, the company presently has an average rating of “Hold” and a consensus price target of $38.20.

Symbotic Stock Down 4.9 %

NASDAQ:SYM traded down $1.19 on Tuesday, hitting $23.20. The stock had a trading volume of 577,723 shares, compared to its average volume of 2,365,080. The stock has a market cap of $13.65 billion, a price-to-earnings ratio of -329.92, a PEG ratio of 6.48 and a beta of 1.79. Symbotic has a 1-year low of $17.11 and a 1-year high of $50.40. The company has a fifty day moving average price of $27.22 and a two-hundred day moving average price of $26.51.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. As a group, analysts anticipate that Symbotic will post 0.13 earnings per share for the current year.

Insider Buying and Selling at Symbotic

In related news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $24.04, for a total transaction of $48,080.00. Following the transaction, the director now owns 214,036 shares of the company’s stock, valued at approximately $5,145,425.44. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael David Dunn sold 5,365 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $24.60, for a total transaction of $131,979.00. Following the sale, the insider now directly owns 31,860 shares of the company’s stock, valued at approximately $783,756. The trade was a 14.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,854 shares of company stock valued at $3,986,371 over the last three months. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Symbotic

Several hedge funds have recently made changes to their positions in SYM. Walmart Inc. acquired a new position in shares of Symbotic during the 4th quarter worth approximately $355,650,000. Baillie Gifford & Co. increased its position in Symbotic by 32.0% in the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after buying an additional 3,410,050 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Symbotic by 100.6% in the fourth quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company’s stock valued at $411,000 after buying an additional 3,110,075 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Symbotic by 41.3% during the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock worth $117,846,000 after acquiring an additional 1,452,627 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Symbotic during the fourth quarter worth $20,754,000.

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.