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

Symbotic (NASDAQ:SYM) had its target price increased by stock analysts at Deutsche Bank Aktiengesellschaft from $57.00 to $58.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 24.62% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on SYM. William Blair reiterated a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. DA Davidson upgraded Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Wednesday, February 7th. Northland Securities raised their target price on Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research note on Tuesday, February 6th. Finally, The Goldman Sachs Group lowered their price objective on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.77.

Symbotic Stock Up 11.0 %

Shares of Symbotic stock traded up $4.60 during trading on Tuesday, hitting $46.54. 2,934,017 shares of the stock traded hands, compared to its average volume of 1,410,975. The stock has a market cap of $26.86 billion, a price-to-earnings ratio of -173.74 and a beta of 1.97. The firm’s fifty day moving average is $43.01 and its 200-day moving average is $44.19. Symbotic has a 52 week low of $23.58 and a 52 week high of $64.14.

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

Insider Buying and Selling

In related news, major shareholder David A. Ladensohn sold 2,085,296 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.69, for a total value of $82,765,398.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder David A. Ladensohn sold 2,085,296 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.69, for a total transaction of $82,765,398.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard B. Cohen sold 5,000,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $38.32, for a total transaction of $191,600,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,110,447 shares of company stock valued at $275,410,529. 38.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Van ECK Associates Corp purchased a new stake in Symbotic during the fourth quarter worth about $26,000. Providence Capital Advisors LLC purchased a new stake in shares of Symbotic during the third quarter worth approximately $33,000. RiverPark Advisors LLC purchased a new stake in shares of Symbotic during the first quarter worth approximately $37,000. Global Retirement Partners LLC increased its stake in shares of Symbotic by 166.7% during the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after buying an additional 660 shares during the period. Finally, Pingora Partners LLC purchased a new stake in shares of Symbotic during the fourth quarter worth approximately $51,000.

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.