Virtu Financial LLC purchased a new position in Symbotic Inc. (NASDAQ:SYM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 35,889 shares of the company's stock, valued at approximately $851,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its stake in shares of Symbotic by 1.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company's stock worth $1,154,000 after purchasing an additional 619 shares in the last quarter. Swiss National Bank raised its stake in shares of Symbotic by 2.4% in the 4th quarter. Swiss National Bank now owns 81,700 shares of the company's stock valued at $1,937,000 after acquiring an additional 1,900 shares during the period. Rakuten Securities Inc. lifted its stake in Symbotic by 2,200.6% during the fourth quarter. Rakuten Securities Inc. now owns 7,546 shares of the company's stock worth $179,000 after purchasing an additional 7,218 shares in the last quarter. HighTower Advisors LLC increased its stake in Symbotic by 13.0% during the fourth quarter. HighTower Advisors LLC now owns 26,371 shares of the company's stock worth $625,000 after purchasing an additional 3,033 shares during the period. Finally, Amundi boosted its holdings in Symbotic by 30.0% in the fourth quarter. Amundi now owns 47,199 shares of the company's stock valued at $1,119,000 after purchasing an additional 10,895 shares during the period.
Insider Buying and Selling at Symbotic
In other Symbotic news, insider William M. Boyd III sold 2,455 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $22.31, for a total value of $54,771.05. Following the completion of the sale, the insider now owns 39,659 shares in the company, valued at approximately $884,792.29. This represents a 5.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Carol J. Hibbard sold 4,055 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was 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 in the company, valued at approximately $1,362,650.20. The trade was a 8.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,442 shares of company stock valued at $2,120,023. 0.60% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
SYM has been the topic of a number of recent analyst reports. Northland Securities increased their price objective on Symbotic from $35.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, January 17th. TD Cowen raised their price objective on Symbotic from $43.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. William Blair restated a "market perform" rating on shares of Symbotic in a research report on Thursday, December 5th. Oppenheimer began coverage on Symbotic in a research note on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 target price for the company. Finally, UBS Group cut their price objective on Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Symbotic has a consensus rating of "Hold" and an average target price of $38.20.
Read Our Latest Research Report on Symbotic
Symbotic Stock Performance
Shares of Symbotic stock traded down $1.25 on Wednesday, hitting $22.14. The company had a trading volume of 531,146 shares, compared to its average volume of 1,875,664. The stock has a 50 day moving average of $26.02 and a 200-day moving average of $26.68. The stock has a market capitalization of $13.02 billion, a price-to-earnings ratio of -315.31, a P/E/G ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $50.26.
Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating 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.
Symbotic Profile
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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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