BNP Paribas Financial Markets Buys 44,690 Shares of Symbotic Inc. $SYM

Key Points

• BNP Paribas Financial Markets increased its Symbotic stake by 15.6% in the fourth quarter, buying 44,690 additional shares and bringing its total holdings to 330,320 shares valued at about $19.65 million.
• Symbotic’s latest earnings were mixed: the company posted $0.01 EPS, below estimates of $0.12, but revenue came in at $676.48 million, topping expectations and rising 23.1% year over year.
• Sentiment on the stock is divided, with analysts maintaining a consensus “Hold” rating and an average target price of $65.23, while insiders have also been selling shares in recent transactions.

BNP Paribas Financial Markets raised its stake in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 15.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 330,320 shares of the company's stock after acquiring an additional 44,690 shares during the period. BNP Paribas Financial Markets owned about 0.06% of Symbotic worth $19,654,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SYM. Royal Bank of Canada lifted its stake in Symbotic by 28.8% during the 1st quarter. Royal Bank of Canada now owns 84,856 shares of the company's stock valued at $1,714,000 after acquiring an additional 18,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Symbotic by 15.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company's stock valued at $1,716,000 after acquiring an additional 11,098 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Symbotic during the 2nd quarter valued at $804,000. Invesco Ltd. lifted its stake in Symbotic by 33.2% during the 2nd quarter. Invesco Ltd. now owns 304,207 shares of the company's stock valued at $11,818,000 after acquiring an additional 75,828 shares in the last quarter. Finally, Cresset Asset Management LLC bought a new position in Symbotic during the 2nd quarter valued at $267,000.

Symbotic Stock Performance

Shares of SYM opened at $44.02 on Friday. The business has a 50-day moving average of $53.78 and a 200 day moving average of $57.67. Symbotic Inc. has a fifty-two week low of $27.26 and a fifty-two week high of $87.88. The firm has a market cap of $26.53 billion, a P/E ratio of -880.22, a price-to-earnings-growth ratio of 6.99 and a beta of 1.91.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data 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 return on equity of 0.68% and a negative net margin of 0.20%.The firm had revenue of $676.48 million during the quarter, compared to analysts' expectations of $662.66 million. During the same period last year, the business posted ($0.04) EPS. The company's revenue was up 23.1% compared to the same quarter last year. As a group, research analysts predict that Symbotic Inc. will post 0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

SYM has been the topic of a number of recent analyst reports. DA Davidson reiterated a "buy" rating and set a $70.00 target price on shares of Symbotic in a research note on Monday, May 11th. Weiss Ratings cut Symbotic from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, May 11th. The Goldman Sachs Group lowered their target price on Symbotic from $54.00 to $45.00 and set a "sell" rating on the stock in a research note on Tuesday, May 26th. Barclays lifted their target price on Symbotic from $42.00 to $44.00 and gave the stock an "underweight" rating in a research note on Monday, March 16th. Finally, Zacks Research upgraded Symbotic from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 18th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $65.23.

Insider Buying and Selling

In other Symbotic news, insider William M. Boyd III sold 9,194 shares of Symbotic stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $58.75, for a total transaction of $540,147.50. Following the completion of the transaction, the insider owned 62,227 shares of the company's stock, valued at $3,655,836.25. The trade was a 12.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO James Kuffner sold 3,878 shares of Symbotic stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $53.51, for a total value of $207,511.78. Following the transaction, the chief technology officer directly owned 185,126 shares of the company's stock, valued at $9,906,092.26. The trade was a 2.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 153,845 shares of company stock worth $8,601,544 in the last quarter. 8.16% of the stock is currently owned by company insiders.

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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