Invesco Ltd. boosted its position in Symbotic Inc. (NASDAQ:SYM - Free Report) by 25.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 727,890 shares of the company's stock after purchasing an additional 149,918 shares during the quarter. Invesco Ltd. owned approximately 0.12% of Symbotic worth $17,258,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Alberta Investment Management Corp acquired a new position in shares of Symbotic during the fourth quarter valued at about $586,000. Geode Capital Management LLC grew its position in Symbotic by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company's stock worth $12,290,000 after purchasing an additional 46,721 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Symbotic during the 3rd quarter valued at approximately $1,029,000. Capital Market Strategies LLC purchased a new position in shares of Symbotic in the fourth quarter worth $802,000. Finally, Vanguard Group Inc. lifted its stake in shares of Symbotic by 41.3% during the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock worth $117,846,000 after buying an additional 1,452,627 shares during the period.
Insider Activity
In related news, insider William M. Boyd III sold 2,660 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total transaction of $73,416.00. Following the completion of the transaction, the insider now owns 40,812 shares in the company, valued at $1,126,411.20. This represents a 6.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $17.51, for a total transaction of $35,020.00. Following the completion of the transaction, the director now directly owns 194,036 shares in the company, valued at $3,397,570.36. This represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,028 shares of company stock worth $1,532,091 in the last quarter. Corporate insiders own 0.60% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on SYM shares. Northland Securities upped their target price on Symbotic from $35.00 to $41.00 and gave the company an "outperform" rating in a research report on Friday, January 17th. The Goldman Sachs Group reduced their price objective on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Raymond James lowered Symbotic from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. Oppenheimer assumed coverage on shares of Symbotic in a research report on Wednesday, January 15th. They set an "outperform" rating and a $35.00 price target for the company. Finally, DA Davidson upgraded shares of Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a research note on Wednesday, January 8th. One equities 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $37.20.
Get Our Latest Report on Symbotic
Symbotic Trading Down 1.1 %
SYM traded down $0.24 on Friday, reaching $21.82. The stock had a trading volume of 186,188 shares, compared to its average volume of 1,927,834. The business's 50-day moving average price is $21.61 and its two-hundred day moving average price is $26.14. The company has a market cap of $12.84 billion, a P/E ratio of -311.37, a price-to-earnings-growth ratio of 6.48 and a beta of 1.86. 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 announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating 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 predict that Symbotic Inc. will post 0.13 earnings per share for the current year.
Symbotic Company Profile
(
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.
Further Reading
Before you consider Symbotic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Symbotic wasn't on the list.
While Symbotic currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
