Charles Schwab Investment Management Inc. increased its stake in Symbotic Inc. (NASDAQ:SYM - Free Report) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 230,996 shares of the company's stock after purchasing an additional 11,922 shares during the period. Charles Schwab Investment Management Inc.'s holdings in Symbotic were worth $5,477,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new position in Symbotic in the fourth quarter valued at approximately $154,000. Jones Financial Companies Lllp increased its stake 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 valued at $58,000 after purchasing an additional 1,490 shares during the last quarter. Private Trust Co. NA acquired a new position in shares of Symbotic during the 4th quarter worth $47,000. Taylor Frigon Capital Management LLC lifted its position in shares of Symbotic by 18.7% during the 4th quarter. Taylor Frigon Capital Management LLC now owns 83,233 shares of the company's stock worth $1,973,000 after buying an additional 13,104 shares during the last quarter. Finally, ARK Investment Management LLC acquired a new stake in Symbotic in the fourth quarter valued at about $4,506,000.
Analyst Ratings Changes
SYM has been the subject of several research analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $60.00 target price on shares of Symbotic in a research note on Thursday, February 6th. Northland Securities increased their price objective on shares of Symbotic from $35.00 to $41.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. UBS Group decreased their target price on shares of Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Raymond James downgraded shares of Symbotic from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. Finally, DA Davidson raised Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 price objective on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Symbotic has an average rating of "Hold" and a consensus target price of $38.20.
View Our Latest Analysis on SYM
Insider Buying and Selling at Symbotic
In other news, insider Michael David Dunn sold 5,365 shares of the firm's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $24.60, for a total value of $131,979.00. Following the completion of the sale, the insider now directly owns 31,860 shares in the company, valued at $783,756. This trade represents a 14.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Todd Krasnow sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $24.04, for a total value of $48,080.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,442 shares of company stock valued at $2,120,023. 0.60% of the stock is currently owned by company insiders.
Symbotic Price Performance
Shares of SYM traded down $1.35 during trading hours on Friday, hitting $20.16. 1,619,634 shares of the stock were exchanged, compared to its average volume of 1,894,807. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $48.98. The business has a 50-day moving average of $25.53 and a 200-day moving average of $26.68. The firm has a market capitalization of $11.86 billion, a P/E ratio of -287.96, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85.
Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate 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, analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.
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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