Natixis Invests $828,000 in Symbotic Inc. (NASDAQ:SYM)

Natixis acquired a new stake in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 34,906 shares of the company's stock, valued at approximately $828,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Greenwood Gearhart Inc. acquired a new position in Symbotic in the 4th quarter worth $337,000. Capital Fund Management S.A. boosted its position in shares of Symbotic by 72.0% during the fourth quarter. Capital Fund Management S.A. now owns 246,572 shares of the company's stock worth $5,846,000 after buying an additional 103,216 shares during the period. Raymond James Financial Inc. bought a new position in shares of Symbotic during the fourth quarter worth about $20,754,000. Invesco Ltd. raised its position in Symbotic by 25.9% in the 4th quarter. Invesco Ltd. now owns 727,890 shares of the company's stock valued at $17,258,000 after buying an additional 149,918 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Symbotic in the 4th quarter valued at approximately $47,000.

Analyst Upgrades and Downgrades

SYM has been the subject of several research reports. Citigroup decreased their price target on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Northland Securities lifted their price target 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 cut their price target 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. Raymond James cut Symbotic from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. Finally, Needham & Company LLC dropped their target price on Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $37.20.

Insider Activity at Symbotic

In related news, CFO Carol J. Hibbard sold 4,055 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total transaction 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 $1,362,650.20. This represents a 8.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Maria G. Freve sold 1,929 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $21.69, for a total transaction of $41,840.01. Following the completion of the transaction, the insider now directly owns 2,646 shares in the company, valued at approximately $57,391.74. This represents a 42.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,957 shares of company stock worth $1,573,931. Company insiders own 0.60% of the company's stock.

Symbotic Stock Down 0.6 %

Shares of SYM traded down $0.13 during midday trading on Friday, reaching $21.93. 888,719 shares of the stock were exchanged, compared to its average volume of 1,938,997. The stock's 50 day simple moving average is $21.49 and its 200 day simple moving average is $26.15. The company has a market cap of $12.90 billion, a P/E ratio of -313.24, a PEG ratio of 6.48 and a beta of 1.86. 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 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 negative net margin of 0.38% and a positive return on equity of 5.11%. As a group, analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.

About Symbotic

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.