Sei Investments Co. Acquires Shares of 58,335 Symbotic Inc. (NASDAQ:SYM)

Sei Investments Co. purchased a new position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 58,335 shares of the company's stock, valued at approximately $1,383,000.

A number of other large investors have also made changes to their positions in the stock. IFP Advisors Inc boosted its position in Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after purchasing an additional 503 shares in the last quarter. Private Trust Co. NA purchased a new stake in shares of Symbotic in the 4th quarter worth about $47,000. Jones Financial Companies Lllp boosted its position in shares of Symbotic by 154.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock worth $58,000 after buying an additional 1,490 shares in the last quarter. Quarry LP increased its holdings in Symbotic by 89.9% during the 3rd quarter. Quarry LP now owns 3,508 shares of the company's stock valued at $86,000 after acquiring an additional 1,661 shares in the last quarter. Finally, National Bank of Canada FI raised its position in Symbotic by 36.8% during the third quarter. National Bank of Canada FI now owns 3,557 shares of the company's stock worth $87,000 after acquiring an additional 957 shares during the last quarter.

Symbotic Stock Up 3.0 %

Shares of NASDAQ SYM traded up $0.61 during midday trading on Friday, hitting $20.63. The stock had a trading volume of 916,396 shares, compared to its average volume of 1,934,094. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $48.98. The company has a market capitalization of $12.14 billion, a price-to-earnings ratio of -294.67, a PEG ratio of 6.48 and a beta of 1.86. The company has a fifty day moving average price of $22.93 and a 200 day moving average price of $26.38.

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Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share 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%. On average, research analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SYM shares. Oppenheimer started coverage on shares of Symbotic in a research report on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 price target on the stock. Needham & Company LLC lowered their target price on Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. UBS Group decreased their price objective on Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Cantor Fitzgerald reissued an "overweight" rating and issued a $60.00 target price on shares of Symbotic in a research note on Thursday, February 6th. Finally, Raymond James lowered shares of Symbotic from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $37.73.

Insider Buying and Selling

In other news, insider Michael David Dunn sold 3,635 shares of the business's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $33.28, for a total transaction of $120,972.80. Following the transaction, the insider now directly owns 24,272 shares of the company's stock, valued at approximately $807,772.16. The trade was a 13.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Carol J. Hibbard sold 4,055 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total transaction of $124,488.50. Following the completion of the transaction, the chief financial officer now owns 44,386 shares of the company's stock, valued at $1,362,650.20. This trade represents a 8.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 73,117 shares of company stock valued at $2,020,354. Company insiders own 0.60% of the company's stock.

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.