Symbotic (NASDAQ:SYM) Trading Up 39.4% on Analyst Upgrade

Symbotic Inc. (NASDAQ:SYM) shares rose 39.4% during mid-day trading on Tuesday after Northland Securities raised their price target on the stock from $56.00 to $70.00. Northland Securities currently has an outperform rating on the stock. Symbotic traded as high as $78.33 and last traded at $77.29. Approximately 10,148,061 shares were traded during trading, an increase of 397% from the average daily volume of 2,040,509 shares. The stock had previously closed at $55.46.

A number of other analysts also recently weighed in on the stock. Needham & Company LLC boosted their target price on shares of Symbotic from $57.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a research note on Tuesday. Cantor Fitzgerald upped their price objective on Symbotic from $60.00 to $82.00 and gave the company an “overweight” rating in a research report on Tuesday. Robert W. Baird cut Symbotic from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Thursday, August 7th. Finally, Citigroup boosted their target price on Symbotic from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.82.

Insiders Place Their Bets

In other news, major shareholder David A. Ladensohn sold 23,000 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $66.75, for a total transaction of $1,535,250.00. Following the transaction, the insider owned 5,000 shares of the company’s stock, valued at approximately $333,750. This represents a 82.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Todd Krasnow sold 4,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $76.75, for a total value of $307,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 68,160 shares of company stock worth $4,761,942 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Symbotic

Several institutional investors and hedge funds have recently made changes to their positions in SYM. Amanah Holdings Trust bought a new position in shares of Symbotic in the second quarter worth about $19,824,000. ARK Investment Management LLC boosted its position in Symbotic by 13.3% in the 2nd quarter. ARK Investment Management LLC now owns 445,498 shares of the company’s stock valued at $17,308,000 after buying an additional 52,205 shares during the period. Amundi grew its stake in Symbotic by 53.0% in the 1st quarter. Amundi now owns 72,192 shares of the company’s stock worth $1,459,000 after acquiring an additional 24,993 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Symbotic by 35.7% during the first quarter. Bank of New York Mellon Corp now owns 60,554 shares of the company’s stock worth $1,224,000 after acquiring an additional 15,947 shares during the period. Finally, Hunter Associates Investment Management LLC purchased a new position in shares of Symbotic during the second quarter worth approximately $361,000.

Symbotic Stock Up 39.4%

The stock has a market cap of $45.64 billion, a P/E ratio of -1,103.99, a P/E/G ratio of 9.03 and a beta of 2.10. The company’s 50 day moving average price is $64.06 and its two-hundred day moving average price is $49.76.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Monday, November 24th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm had revenue of $618.46 million for the quarter, compared to analysts’ expectations of $604.00 million. Symbotic had a negative return on equity of 2.02% and a negative net margin of 0.38%.The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 earnings per share. Symbotic has set its Q1 2026 guidance at EPS. As a group, equities research analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current year.

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.