Allianz SE Makes New Investment in Symbotic Inc. (NASDAQ:SYM)

Allianz SE acquired a new stake in Symbotic Inc. (NASDAQ:SYM - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 35,072 shares of the company's stock, valued at approximately $854,000.

A number of other institutional investors have also made changes to their positions in the business. IFP Advisors Inc increased its position in shares of Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after purchasing an additional 503 shares during the last quarter. Private Trust Co. NA bought a new position in shares of Symbotic during the 4th quarter worth approximately $47,000. Jones Financial Companies Lllp lifted its holdings in Symbotic by 154.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock valued at $58,000 after purchasing an additional 1,490 shares during the last quarter. Quest Partners LLC boosted its position in Symbotic by 19,307.7% during the third quarter. Quest Partners LLC now owns 2,523 shares of the company's stock worth $62,000 after purchasing an additional 2,510 shares during the period. Finally, MCF Advisors LLC acquired a new stake in shares of Symbotic during the 4th quarter worth about $85,000.

Symbotic Stock Performance

Shares of SYM traded up $0.69 during mid-day trading on Tuesday, reaching $20.90. The company had a trading volume of 1,053,033 shares, compared to its average volume of 1,892,463. The company's 50 day simple moving average is $25.09 and its 200 day simple moving average is $26.73. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of -298.53, a P/E/G ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 1-year low of $17.11 and a 1-year high of $48.98.

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Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. As a group, equities analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Transactions at Symbotic

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $24.04, for a total transaction of $48,080.00. Following the completion of the sale, the director now directly owns 214,036 shares in the company, valued at approximately $5,145,425.44. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William M. Boyd III sold 2,455 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $22.31, for a total value of $54,771.05. Following the completion of the transaction, the insider now directly owns 39,659 shares in the company, valued at approximately $884,792.29. This trade represents a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,442 shares of company stock worth $2,120,023. Company insiders own 0.60% of the company's stock.

Analyst Ratings Changes

SYM has been the subject of a number of research analyst reports. Needham & Company LLC reduced their price objective on Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, February 6th. The Goldman Sachs Group lowered their price objective on Symbotic from $28.00 to $25.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. DA Davidson upgraded shares of Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 price target on the stock in a research note on Wednesday, January 8th. Citigroup reissued a "buy" rating and issued a $37.00 price objective on shares of Symbotic in a report on Monday, January 13th. Finally, Northland Securities raised their price objective on Symbotic from $35.00 to $41.00 and gave the stock an "outperform" rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $38.20.

Symbotic 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.