Bouvel Investment Partners LLC Takes $1.72 Million Position in Symbotic Inc. $SYM

Key Points

• Bouvel Investment Partners LLC has invested approximately $1.72 million in Symbotic Inc., acquiring 44,143 shares during the second quarter.
• Symbotic's stock has been subject to mixed ratings from analysts, with significant downgrades from firms like Robert W. Baird and Deutsche Bank, while some maintain buy ratings.
• In Q2, Symbotic reported revenues of $592.12 million, which exceeded analyst expectations, but posted a loss of $(0.05) EPS, missing the consensus estimate of $0.03.

Bouvel Investment Partners LLC acquired a new position in Symbotic Inc. (NASDAQ:SYM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 44,143 shares of the company's stock, valued at approximately $1,715,000.

A number of other institutional investors have also recently bought and sold shares of SYM. GAMMA Investing LLC boosted its stake in Symbotic by 1,812.2% during the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock worth $29,000 after buying an additional 1,341 shares in the last quarter. Ulland Investment Advisors LLC acquired a new stake in Symbotic during the first quarter worth $31,000. CWM LLC boosted its stake in Symbotic by 408.2% during the first quarter. CWM LLC now owns 2,602 shares of the company's stock worth $53,000 after buying an additional 2,090 shares in the last quarter. AlphaQuest LLC boosted its stake in Symbotic by 318.5% during the first quarter. AlphaQuest LLC now owns 2,800 shares of the company's stock worth $57,000 after buying an additional 2,131 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Symbotic by 24.0% during the second quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company's stock worth $69,000 after buying an additional 342 shares in the last quarter.

Symbotic Stock Performance

NASDAQ:SYM traded down $6.25 on Tuesday, hitting $54.48. 3,474,355 shares of the stock were exchanged, compared to its average volume of 1,977,469. The stock has a market capitalization of $32.17 billion, a price-to-earnings ratio of -778.96 and a beta of 2.05. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $64.16. The company's 50-day moving average price is $51.02 and its 200 day moving average price is $35.70.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.08). The firm had revenue of $592.12 million for the quarter, compared to the consensus estimate of $533.55 million. Symbotic had a negative return on equity of 2.02% and a negative net margin of 0.38%.The business's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.02) earnings per share. As a group, equities research analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

SYM has been the topic of several recent analyst reports. UBS Group restated a "sell" rating and issued a $35.00 target price (up previously from $27.00) on shares of Symbotic in a research note on Tuesday. Oppenheimer boosted their target price on shares of Symbotic from $54.00 to $59.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Symbotic from a "buy" rating to a "hold" rating and set a $51.00 target price on the stock. in a research note on Friday, July 18th. Baird R W downgraded shares of Symbotic from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Finally, Robert W. Baird downgraded shares of Symbotic from an "outperform" rating to a "neutral" rating and set a $55.00 target price on the stock. in a research note on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $43.75.

Insider Activity

In other Symbotic news, insider William M. Boyd III sold 2,455 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $50.58, for a total transaction of $124,173.90. Following the completion of the sale, the insider directly owned 29,429 shares of the company's stock, valued at approximately $1,488,518.82. The trade was a 7.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Maria G. Freve sold 2,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $51.93, for a total value of $103,860.00. Following the sale, the insider directly owned 1,312 shares of the company's stock, valued at $68,132.16. This represents a 60.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 483,032 shares of company stock worth $23,897,448. Corporate 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.