Symbotic (NASDAQ:SYM) Given New $41.00 Price Target at Northland Securities

Symbotic (NASDAQ:SYM) had its target price raised by Northland Securities from $35.00 to $41.00 in a report published on Friday morning,Benzinga reports. Northland Securities currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the company. William Blair restated a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Craig Hallum lowered Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research report on Wednesday, November 27th. The Goldman Sachs Group dropped their price target on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, December 4th. KeyCorp reissued a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. Finally, Oppenheimer began coverage on shares of Symbotic in a report on Wednesday. They issued an “outperform” rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.73.

Symbotic Price Performance

Shares of SYM stock opened at $29.76 on Friday. Symbotic has a one year low of $17.11 and a one year high of $52.20. The company’s 50-day moving average is $27.96 and its 200 day moving average is $27.55.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The firm had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $470.24 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The business’s revenue for the quarter was up 47.2% on a year-over-year basis. Analysts predict that Symbotic will post 0.12 earnings per share for the current year.

Insider Transactions at Symbotic

In other Symbotic news, Director Merline Saintil sold 5,250 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $28.70, for a total value of $150,675.00. Following the completion of the transaction, the director now directly owns 74,562 shares in the company, valued at $2,139,929.40. This represents a 6.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael David Dunn sold 1,715 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $28.77, for a total transaction of $49,340.55. Following the sale, the insider now owns 87,922 shares in the company, valued at $2,529,515.94. The trade was a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,844 shares of company stock valued at $3,268,431 over the last quarter. 38.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Symbotic

A number of institutional investors have recently bought and sold shares of the business. Castleview Partners LLC boosted its stake in Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares during the period. Quarry LP purchased a new position in shares of Symbotic in the second quarter worth $65,000. Arcadia Investment Management Corp MI bought a new position in shares of Symbotic during the third quarter worth $49,000. RiverPark Advisors LLC grew its stake in Symbotic by 147.1% during the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after acquiring an additional 1,211 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in Symbotic by 19,307.7% in the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after acquiring an additional 2,510 shares during the last quarter.

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.