Divisadero Street Capital Management LP Takes $4.44 Million Position in Symbotic Inc. (NASDAQ:SYM)

Divisadero Street Capital Management LP acquired a new position in Symbotic Inc. (NASDAQ:SYM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 187,317 shares of the company's stock, valued at approximately $4,441,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYM. Walmart Inc. purchased a new position in shares of Symbotic during the fourth quarter valued at $355,650,000. Vanguard Group Inc. grew its stake in Symbotic by 41.3% during the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock valued at $117,846,000 after acquiring an additional 1,452,627 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Symbotic in the 4th quarter valued at about $20,754,000. Invesco Ltd. lifted its position in shares of Symbotic by 25.9% in the fourth quarter. Invesco Ltd. now owns 727,890 shares of the company's stock worth $17,258,000 after purchasing an additional 149,918 shares in the last quarter. Finally, TCW Group Inc. grew its position in Symbotic by 51.7% during the fourth quarter. TCW Group Inc. now owns 582,955 shares of the company's stock valued at $13,822,000 after purchasing an additional 198,681 shares in the last quarter.

Analysts Set New Price Targets

SYM has been the subject of a number of research reports. The Goldman Sachs Group decreased their target price on shares of 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 lowered their target price on Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Raymond James downgraded Symbotic from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. Northland Securities increased their price objective on Symbotic from $35.00 to $41.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. Finally, Needham & Company LLC reduced their target price on shares of Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $37.20.

Insider Activity at Symbotic

In related news, Director Todd Krasnow sold 10,447 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $27.05, for a total value of $282,591.35. Following the sale, the director now owns 194,036 shares of the company's stock, valued at $5,248,673.80. The trade was a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William M. Boyd III sold 2,660 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $27.60, for a total transaction of $73,416.00. Following the transaction, the insider now owns 40,812 shares of the company's stock, valued at approximately $1,126,411.20. This represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,294 shares of company stock worth $1,752,581 over the last three months. Company insiders own 0.60% of the company's stock.

Symbotic Trading Up 3.4 %

NASDAQ:SYM traded up $0.81 during mid-day trading on Friday, hitting $24.75. 1,218,214 shares of the company's stock traded hands, compared to its average volume of 1,917,030. The firm has a market capitalization of $14.56 billion, a price-to-earnings ratio of -353.52, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85. The firm has a 50 day moving average of $21.30 and a two-hundred day moving average of $25.73. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $47.42.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The company had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. The company's revenue was up 39.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) EPS. As a group, equities research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

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.