Vanguard Group Inc. boosted its stake in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 41.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,970,292 shares of the company's stock after acquiring an additional 1,452,627 shares during the quarter. Vanguard Group Inc. owned 0.85% of Symbotic worth $117,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Alberta Investment Management Corp bought a new position in Symbotic in the 4th quarter worth $586,000. Geode Capital Management LLC increased its holdings in shares of Symbotic by 10.2% in 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 in the last quarter. Sanctuary Advisors LLC purchased a new position in Symbotic in the 3rd quarter worth about $1,029,000. Capital Market Strategies LLC bought a new position in Symbotic during the fourth quarter valued at approximately $802,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Symbotic by 10.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company's stock valued at $5,343,000 after buying an additional 20,469 shares during the period.
Symbotic Trading Up 3.0 %
Shares of Symbotic stock traded up $0.61 during trading on Friday, hitting $20.63. 916,396 shares of the stock traded hands, compared to its average volume of 1,938,464. The stock's fifty day simple moving average is $22.93 and its 200 day simple moving average is $26.39. The firm has a market cap of $12.14 billion, a P/E ratio of -294.67, a price-to-earnings-growth ratio of 6.48 and a beta of 1.86. Symbotic Inc. has a 52-week low of $16.32 and a 52-week 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 (EPS) for the quarter, beating analysts' consensus estimates 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, equities analysts expect that Symbotic Inc. will post 0.13 EPS for the current year.
Analysts Set New Price Targets
Several brokerages recently issued reports on SYM. DA Davidson upgraded shares of Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a research report on Wednesday, January 8th. Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 price objective on shares of Symbotic in a research report on Thursday, February 6th. Needham & Company LLC cut their price target on Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Northland Securities boosted their target price on shares of Symbotic from $35.00 to $41.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. Finally, Oppenheimer assumed coverage on shares of Symbotic in a report on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 price target for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Symbotic presently has an average rating of "Hold" and an average price target of $37.73.
Check Out Our Latest Stock Report on SYM
Insider Buying and Selling
In other Symbotic news, CFO Carol J. Hibbard sold 4,055 shares of Symbotic stock in a transaction that occurred on 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 directly owns 44,386 shares in the company, valued at approximately $1,362,650.20. The trade was a 8.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael David Dunn sold 3,635 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $33.28, for a total transaction of $120,972.80. Following the completion of the sale, the insider now owns 24,272 shares in the company, valued at $807,772.16. The trade was a 13.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,117 shares of company stock worth $2,020,354 in the last 90 days. 0.60% of the stock is owned by corporate insiders.
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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