240,571 Shares in Symbotic Inc. (NASDAQ:SYM) Acquired by Hood River Capital Management LLC

Hood River Capital Management LLC purchased a new stake in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 240,571 shares of the company's stock, valued at approximately $5,704,000.

A number of other hedge funds also recently modified their holdings of the stock. IFP Advisors Inc lifted 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 valued at $32,000 after acquiring an additional 503 shares during the period. Private Trust Co. NA bought a new stake in shares of Symbotic during the fourth quarter worth $47,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Symbotic in the 4th quarter worth about $47,000. Jones Financial Companies Lllp increased its stake in shares of Symbotic by 154.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock valued at $58,000 after buying an additional 1,490 shares during the period. Finally, MCF Advisors LLC bought a new position in shares of Symbotic during the fourth quarter valued at $85,000.

Symbotic Stock Performance

Shares of Symbotic stock traded down $0.13 during mid-day trading on Friday, hitting $21.93. 888,719 shares of the stock were exchanged, compared to its average volume of 1,938,997. The company has a market capitalization of $12.90 billion, a P/E ratio of -313.24, a P/E/G ratio of 6.48 and a beta of 1.86. The company has a 50-day simple moving average of $21.49 and a 200 day simple moving average of $26.15. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $48.98.

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

Insiders Place Their Bets

In other news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $17.51, for a total value of $35,020.00. Following the sale, the director now directly owns 194,036 shares of the company's stock, valued at approximately $3,397,570.36. This represents a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael David Dunn sold 1,971 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $30.00, for a total transaction of $59,130.00. Following the completion of the transaction, the insider now owns 22,301 shares of the company's stock, valued at $669,030. This trade represents a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,957 shares of company stock worth $1,573,931 over the last quarter. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SYM. Northland Securities raised their price objective on Symbotic from $35.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, January 17th. Raymond James cut shares of Symbotic from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. The Goldman Sachs Group decreased their target price on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Needham & Company LLC cut their price target on Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Finally, Oppenheimer assumed coverage on Symbotic in a research note on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $37.20.

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.