Freemont Management S.A. Invests $1.48 Million in Symbotic Inc. (NASDAQ:SYM)

Key Points

• Freemont Management S.A. invested approximately $1.48 million in Symbotic Inc. during the 1st quarter, acquiring 73,200 shares of the company.
• Symbotic's stock is currently trading at $52.99, reflecting a recent decrease of 0.8%, with a market capitalization of $31.24 billion.
• Analysts have issued varied ratings for Symbotic, with a consensus rating of "Moderate Buy" and a price target averaging around $39.94.

Freemont Management S.A. acquired a new stake in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 73,200 shares of the company's stock, valued at approximately $1,479,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in Symbotic by 1,812.2% in the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock worth $29,000 after purchasing an additional 1,341 shares during the last quarter. Ulland Investment Advisors LLC bought a new stake in Symbotic in the first quarter worth $31,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Symbotic in the fourth quarter worth $47,000. CWM LLC increased its position in Symbotic by 408.2% in the first quarter. CWM LLC now owns 2,602 shares of the company's stock worth $53,000 after purchasing an additional 2,090 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Symbotic by 40.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company's stock worth $85,000 after purchasing an additional 1,018 shares during the last quarter.

Insider Activity at Symbotic

In other news, insider William M. Boyd III sold 25,000 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $49.00, for a total transaction of $1,225,000.00. Following the transaction, the insider owned 34,544 shares in the company, valued at $1,692,656. This represents a 41.99% 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, Director Todd Krasnow sold 5,940 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $26.38, for a total transaction of $156,697.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,871 shares of company stock worth $2,791,800. 0.60% of the stock is owned by insiders.

Symbotic Stock Down 0.8%

Shares of SYM traded down $0.43 during mid-day trading on Friday, hitting $52.99. 1,625,885 shares of the company traded hands, compared to its average volume of 2,658,595. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $55.44. The company has a market capitalization of $31.24 billion, a PE ratio of -1,324.75, a price-to-earnings-growth ratio of 55.65 and a beta of 2.03. The business has a 50 day moving average of $37.82 and a 200 day moving average of $28.90.

Symbotic (NASDAQ:SYM - Get Free Report) last posted 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). Symbotic had a negative net margin of 0.23% and a negative return on equity of 1.26%. The company had revenue of $549.65 million for the quarter, compared to analyst estimates of $522.36 million. During the same quarter last year, the company earned ($0.07) EPS. The business's revenue was up 39.7% compared to the same quarter last year. As a group, research analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Symbotic from a "buy" rating to a "hold" rating and set a $51.00 price target on the stock. in a research report on Friday, July 18th. Oppenheimer lifted their price objective on shares of Symbotic from $35.00 to $54.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. BWS Financial reaffirmed a "sell" rating and set a $10.00 price objective on shares of Symbotic in a research note on Wednesday, April 2nd. Citigroup reaffirmed a "buy" rating on shares of Symbotic in a research note on Monday, July 14th. Finally, Arete Research raised shares of Symbotic to a "strong-buy" rating and set a $50.00 price objective for the company in a research note on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.94.

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.