Bouvel Investment Partners LLC Takes $1.06 Million Position in Symbotic Inc. (NASDAQ:SYM)

Bouvel Investment Partners LLC purchased a new position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 44,539 shares of the company's stock, valued at approximately $1,056,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. increased its position in Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company's stock worth $343,192,000 after purchasing an additional 3,410,050 shares during the period. Thematics Asset Management grew its holdings in Symbotic by 30.1% during the third quarter. Thematics Asset Management now owns 1,048,170 shares of the company's stock worth $25,565,000 after acquiring an additional 242,661 shares during the period. Exchange Traded Concepts LLC grew its holdings in Symbotic by 76.8% during the third quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company's stock worth $21,317,000 after acquiring an additional 379,726 shares during the period. Canada Pension Plan Investment Board raised its position in Symbotic by 191.5% in the second quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company's stock worth $27,281,000 after acquiring an additional 509,700 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Symbotic by 10.2% in the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company's stock valued at $12,290,000 after acquiring an additional 46,721 shares during the period.

Symbotic Price Performance

NASDAQ:SYM traded down $2.06 during mid-day trading on Friday, reaching $29.76. The company's stock had a trading volume of 4,186,179 shares, compared to its average volume of 2,855,100. The stock has a market cap of $17.48 billion, a P/E ratio of -496.00 and a beta of 1.76. The company's fifty day simple moving average is $27.96 and its two-hundred day simple moving average is $27.55. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $52.20.

Symbotic (NASDAQ:SYM - Get Free Report) last released its earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The business had revenue of $576.77 million for the quarter, compared to analysts' expectations of $470.24 million. During the same period last year, the company earned ($0.08) earnings per share. The company's quarterly revenue was up 47.2% on a year-over-year basis. Sell-side analysts expect that Symbotic Inc. will post 0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SYM shares. UBS Group decreased their price target on Symbotic from $40.00 to $32.00 and set a "neutral" rating on the stock in a research note on Friday, January 3rd. Cantor Fitzgerald restated an "overweight" rating and set a $60.00 target price on shares of Symbotic in a report on Tuesday, November 19th. Citigroup restated a "buy" rating and set a $37.00 target price on shares of Symbotic in a research report on Monday. Needham & Company LLC reiterated a "buy" rating and issued a $35.00 price target on shares of Symbotic in a research report on Friday. Finally, KeyCorp restated a "sector weight" rating on shares of Symbotic in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Symbotic has an average rating of "Moderate Buy" and a consensus price target of $38.73.

Insider Activity

In other news, insider Michael David Dunn sold 1,715 shares of Symbotic stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $28.77, for a total value of $49,340.55. Following the transaction, the insider now directly owns 87,922 shares of the company's stock, valued at $2,529,515.94. The trade was a 1.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Carol J. Hibbard sold 22,821 shares of the business's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the sale, the chief financial officer now owns 34,188 shares of the company's stock, valued at $990,084.48. The trade was a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,844 shares of company stock valued at $3,268,431 in the last ninety days. Company insiders own 38.30% of the company's stock.

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.