ARK Investment Management LLC bought a new position in Symbotic Inc. (NASDAQ:SYM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 190,067 shares of the company's stock, valued at approximately $4,506,000.
A number of other hedge funds have also recently bought and sold shares of SYM. Baillie Gifford & Co. increased its position in shares of Symbotic by 32.0% during the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company's stock worth $343,192,000 after acquiring an additional 3,410,050 shares in the last quarter. Thematics Asset Management lifted its position in shares of Symbotic by 30.1% in the third quarter. Thematics Asset Management now owns 1,048,170 shares of the company's stock valued at $25,565,000 after buying an additional 242,661 shares during the last quarter. TCW Group Inc. boosted its stake in shares of Symbotic by 51.7% during the 4th quarter. TCW Group Inc. now owns 582,955 shares of the company's stock worth $13,822,000 after acquiring an additional 198,681 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Symbotic by 1,273,060.0% during the 3rd quarter. International Assets Investment Management LLC now owns 63,658 shares of the company's stock worth $1,553,000 after acquiring an additional 63,653 shares during the last quarter. Finally, Tenzing Global Management LLC bought a new stake in Symbotic in the 3rd quarter valued at $1,524,000.
Symbotic Stock Down 1.0 %
Shares of SYM stock traded down $0.24 during trading hours on Friday, hitting $22.70. 1,739,853 shares of the company's stock traded hands, compared to its average volume of 2,332,142. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $50.40. The stock has a market cap of $13.36 billion, a PE ratio of -324.24, a price-to-earnings-growth ratio of 6.48 and a beta of 1.79. The stock's 50 day simple moving average is $27.10 and its 200 day simple moving average is $26.53.
Symbotic (NASDAQ:SYM - Get Free Report) last issued its earnings results 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 research analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.
Insider Transactions at Symbotic
In other Symbotic news, Director Rollin L. Ford sold 28,740 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.02, for a total value of $747,814.80. Following the completion of the sale, the director now directly owns 10,447 shares of the company's stock, valued at approximately $271,830.94. This represents a 73.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael David Dunn sold 63,867 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $30.08, for a total value of $1,921,119.36. Following the completion of the transaction, the insider now directly owns 24,055 shares in the company, valued at approximately $723,574.40. This represents a 72.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,854 shares of company stock valued at $3,986,371 over the last three months. Corporate insiders own 0.60% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the stock. Needham & Company LLC decreased their price target on shares of Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Oppenheimer started coverage on Symbotic in a research note on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 price target for the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 price objective on shares of Symbotic in a research report on Thursday, February 6th. Northland Securities boosted their target price on shares of Symbotic from $35.00 to $41.00 and gave the company an "outperform" rating in a research report on Friday, January 17th. Finally, Citigroup reaffirmed a "buy" rating and set a $37.00 target price on shares of Symbotic in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Symbotic presently has an average rating of "Hold" and a consensus price target of $38.20.
Check Out Our Latest Analysis on SYM
About Symbotic
(
Free Report)
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.
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