Susquehanna Fundamental Investments LLC Acquires New Stake in Symbotic Inc. (NASDAQ:SYM)

Susquehanna Fundamental Investments LLC acquired a new stake in Symbotic Inc. (NASDAQ:SYM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 44,432 shares of the company's stock, valued at approximately $1,053,000.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Oppenheimer assumed coverage on shares of Symbotic in a report on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 price objective on the stock. 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 research note on Thursday, February 6th. The Goldman Sachs Group lowered 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. UBS Group cut their target price on Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Finally, Northland Securities raised their price target on shares of Symbotic from $35.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Symbotic presently has an average rating of "Hold" and a consensus price target of $37.20.

Symbotic Price Performance

Shares of NASDAQ:SYM traded down $0.51 during trading on Wednesday, reaching $22.44. 185,063 shares of the company's stock traded hands, compared to its average volume of 1,919,347. The stock has a market capitalization of $13.20 billion, a P/E ratio of -320.34, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $48.98. The company has a 50 day moving average of $21.19 and a 200-day moving average of $25.83.

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, topping 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%. Equities research analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Todd Krasnow sold 10,447 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $27.05, for a total value of $282,591.35. Following the completion of the transaction, the director now directly owns 194,036 shares of the company's stock, valued at $5,248,673.80. This represents a 5.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Carol J. Hibbard sold 4,628 shares of Symbotic stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $22.62, for a total value of $104,685.36. Following the sale, the chief financial officer now directly owns 54,011 shares in the company, valued at $1,221,728.82. The trade was a 7.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,294 shares of company stock valued at $1,752,581 over the last three months. Company insiders own 0.60% of the company's stock.

Symbotic Company 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.