Canada Pension Plan Investment Board acquired a new stake in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 245,800 shares of the company's stock, valued at approximately $4,968,000.
Several other hedge funds have also made changes to their positions in SYM. ARK Investment Management LLC lifted its holdings in shares of Symbotic by 106.9% in the 1st quarter. ARK Investment Management LLC now owns 393,293 shares of the company's stock worth $7,948,000 after buying an additional 203,226 shares during the period. Divisadero Street Capital Management LP purchased a new stake in shares of Symbotic in the 4th quarter worth $4,441,000. Janus Henderson Group PLC lifted its holdings in shares of Symbotic by 931.7% in the 4th quarter. Janus Henderson Group PLC now owns 179,516 shares of the company's stock worth $4,256,000 after buying an additional 162,116 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of Symbotic by 12.1% in the 1st quarter. Raymond James Financial Inc. now owns 980,922 shares of the company's stock worth $19,824,000 after buying an additional 105,616 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Symbotic by 18.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 680,734 shares of the company's stock worth $13,758,000 after buying an additional 104,068 shares during the period.
Symbotic Price Performance
Shares of NASDAQ:SYM opened at $45.46 on Thursday. The business's 50-day moving average is $49.36 and its 200 day moving average is $33.16. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $64.16. The firm has a market capitalization of $26.84 billion, a P/E ratio of -649.34 and a beta of 2.05.
Symbotic (NASDAQ:SYM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.08). Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The business had revenue of $592.12 million for the quarter, compared to analyst estimates of $533.55 million. During the same period in the prior year, the company earned ($0.02) earnings per share. The company's quarterly revenue was up 25.9% on a year-over-year basis. On average, analysts expect that Symbotic Inc. will post 0.13 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on SYM. Wall Street Zen cut Symbotic from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Deutsche Bank Aktiengesellschaft cut Symbotic from a "buy" rating to a "hold" rating and set a $51.00 target price for the company. in a report on Friday, July 18th. Zacks Research lowered Symbotic from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. Robert W. Baird lowered Symbotic from an "outperform" rating to a "neutral" rating and set a $55.00 price target for the company. in a research report on Thursday, August 7th. Finally, Oppenheimer boosted their price target on Symbotic from $54.00 to $59.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $43.44.
Get Our Latest Stock Analysis on Symbotic
Insider Activity at Symbotic
In related news, Director Todd Krasnow sold 30,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $51.54, for a total transaction of $1,546,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Millennium Gst Non-Exempt Rbc sold 220,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $46.45, for a total value of $10,219,000.00. The disclosure for this sale can be found here. Insiders sold a total of 484,632 shares of company stock worth $23,837,791 over the last ninety days. Corporate insiders own 0.60% of the company's stock.
Symbotic Profile
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Free Report)
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.
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