Black Swift Group LLC Makes New Investment in Symbotic Inc. $SYM

Key Points

• Black Swift Group LLC opened a new position in Symbotic during the fourth quarter, buying 33,125 shares worth about $1.97 million.
• Analyst sentiment on Symbotic is mixed: Barclays recently raised its price target to $44 but kept an underweight rating, while the overall consensus from MarketBeat is Hold with an average target price of $65.23.
• Symbotic’s latest earnings showed revenue growth of 23.1% year over year to $676.48 million, but EPS came in at $0.01, below estimates; meanwhile, insiders have been selling shares, including CTO James Kuffner and others, over the past three months.

Black Swift Group LLC bought a new position in Symbotic Inc. (NASDAQ:SYM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 33,125 shares of the company's stock, valued at approximately $1,971,000.

A number of other institutional investors have also bought and sold shares of the business. Centerpoint Advisors LLC lifted its stake in Symbotic by 16.7% in the 3rd quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company's stock worth $75,000 after purchasing an additional 200 shares in the last quarter. Barton Investment Management increased its holdings in shares of Symbotic by 0.8% during the 4th quarter. Barton Investment Management now owns 30,658 shares of the company's stock worth $1,824,000 after buying an additional 233 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Symbotic by 4.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,627 shares of the company's stock worth $357,000 after buying an additional 273 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Symbotic by 12.9% during the 3rd quarter. AlphaQuest LLC now owns 2,519 shares of the company's stock worth $136,000 after buying an additional 287 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Symbotic by 4.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 7,733 shares of the company's stock worth $460,000 after buying an additional 321 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SYM shares. Barclays raised their price target on shares of Symbotic from $42.00 to $44.00 and gave the stock an "underweight" rating in a report on Monday, March 16th. Wall Street Zen downgraded shares of Symbotic from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. UBS Group set a $70.00 price target on shares of Symbotic in a report on Wednesday, February 18th. Zacks Research upgraded shares of Symbotic from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 18th. Finally, Northland Securities set a $73.00 price target on shares of Symbotic in a report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $65.23.

Symbotic Stock Performance

Symbotic stock opened at $46.42 on Monday. Symbotic Inc. has a fifty-two week low of $27.26 and a fifty-two week high of $87.88. The firm has a 50 day moving average price of $54.26 and a 200 day moving average price of $58.15. The company has a market capitalization of $27.98 billion, a PE ratio of -928.21, a price-to-earnings-growth ratio of 6.85 and a beta of 1.92.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.11). Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The company had revenue of $676.48 million during the quarter, compared to analyst estimates of $662.66 million. During the same quarter last year, the business posted ($0.04) EPS. The firm's revenue for the quarter was up 23.1% on a year-over-year basis. As a group, equities research analysts forecast that Symbotic Inc. will post 0.23 earnings per share for the current year.

Insider Transactions at Symbotic

In related news, CTO James Kuffner sold 3,878 shares of Symbotic stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.51, for a total value of $207,511.78. Following the completion of the sale, the chief technology officer owned 185,126 shares in the company, valued at approximately $9,906,092.26. This trade represents a 2.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William M. Boyd III sold 9,194 shares of Symbotic stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $58.75, for a total transaction of $540,147.50. Following the completion of the sale, the insider owned 62,227 shares of the company's stock, valued at $3,655,836.25. This trade represents a 12.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 149,845 shares of company stock worth $8,414,964 in the last three months. Company insiders own 8.16% of the company's stock.

Symbotic Profile

Symbotic Inc NASDAQ: SYM is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.

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