Headlands Technologies LLC Makes New Investment in Symbotic Inc. (NASDAQ:SYM)

Headlands Technologies LLC acquired a new stake in Symbotic Inc. (NASDAQ:SYM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 53,032 shares of the company's stock, valued at approximately $1,257,000.

A number of other institutional investors also recently added to or reduced their stakes in SYM. IFP Advisors Inc lifted its holdings in shares of Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock valued at $32,000 after buying an additional 503 shares during the period. Private Trust Co. NA acquired a new stake in Symbotic in the fourth quarter valued at $47,000. Jones Financial Companies Lllp boosted its position in shares of Symbotic by 154.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock worth $58,000 after purchasing an additional 1,490 shares in the last quarter. MCF Advisors LLC acquired a new position in shares of Symbotic during the 4th quarter worth $85,000. Finally, Quarry LP increased its holdings in shares of Symbotic by 89.9% in the 3rd quarter. Quarry LP now owns 3,508 shares of the company's stock valued at $86,000 after purchasing an additional 1,661 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SYM. UBS Group lowered their target price on shares of Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Needham & Company LLC dropped their price objective on Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. BWS Financial reaffirmed a "sell" rating and set a $10.00 price objective on shares of Symbotic in a report on Wednesday. Citigroup reissued a "buy" rating and issued a $37.00 target price on shares of Symbotic in a report on Monday, January 13th. Finally, Raymond James cut Symbotic from an "outperform" rating to a "market perform" rating in a research 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $38.20.

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Symbotic Price Performance

SYM traded down $0.74 during trading on Friday, hitting $17.50. The company's stock had a trading volume of 2,449,180 shares, compared to its average volume of 1,915,448. The stock has a market cap of $10.30 billion, a PE ratio of -249.96, a PEG ratio of 6.48 and a beta of 1.86. The firm's 50 day moving average price is $24.28 and its 200-day moving average price is $26.62. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $48.98.

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

Insiders Place Their Bets

In related news, insider Michael David Dunn sold 2,040 shares of Symbotic stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $22.24, for a total transaction of $45,369.60. Following the transaction, the insider now owns 23,822 shares in the company, valued at approximately $529,801.28. The trade was a 7.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Carol J. Hibbard sold 4,055 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total value of $124,488.50. Following the completion of the sale, the chief financial officer now owns 44,386 shares of the company's stock, valued at approximately $1,362,650.20. This represents a 8.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,117 shares of company stock worth $1,985,334 over the last three months. 0.60% of the stock is owned by insiders.

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.