Symbotic Inc. (NASDAQ:SYM) Shares Acquired by DDD Partners LLC

DDD Partners LLC grew its holdings in Symbotic Inc. (NASDAQ:SYM - Free Report) by 65.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,073 shares of the company's stock after acquiring an additional 19,091 shares during the quarter. DDD Partners LLC's holdings in Symbotic were worth $972,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of 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 purchased a new position in Symbotic during the first quarter valued at approximately $31,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Symbotic during the fourth quarter valued at approximately $47,000. CWM LLC raised its position in Symbotic by 408.2% during the first quarter. CWM LLC now owns 2,602 shares of the company's stock valued at $53,000 after acquiring an additional 2,090 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in Symbotic by 154.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock valued at $58,000 after acquiring an additional 1,490 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently weighed in on SYM. The Goldman Sachs Group reduced their price target on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Citigroup reiterated a "buy" rating on shares of Symbotic in a research report on Monday. Northland Securities lifted their price target on Symbotic from $35.00 to $56.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. BWS Financial reiterated a "sell" rating and set a $10.00 price target on shares of Symbotic in a research report on Wednesday, April 2nd. Finally, Arete assumed coverage on Symbotic in a research report on Wednesday, June 25th. They set a "buy" rating and a $50.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Symbotic currently has an average rating of "Moderate Buy" and an average price target of $40.71.

Symbotic Stock Performance

Shares of NASDAQ:SYM traded up $4.21 during trading on Wednesday, reaching $52.76. The stock had a trading volume of 3,936,111 shares, compared to its average volume of 2,074,823. The business has a fifty day moving average price of $33.53 and a 200-day moving average price of $27.39. The stock has a market cap of $31.11 billion, a PE ratio of -1,319.00, a PEG ratio of 49.52 and a beta of 2.03. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $52.97.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). The firm had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. Symbotic had a negative return on equity of 1.26% and a negative net margin of 0.23%. The business's revenue was up 39.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) earnings per share. Sell-side analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Insider Transactions at Symbotic

In other Symbotic news, Director Todd Krasnow sold 4,000 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $46.48, for a total transaction of $185,920.00. Following the transaction, the director owned 189,036 shares of the company's stock, valued at approximately $8,786,393.28. The trade was a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William M. Boyd III sold 25,000 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $49.00, for a total value of $1,225,000.00. Following the transaction, the insider directly owned 34,544 shares in the company, valued at $1,692,656. This trade represents a 41.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,662 shares of company stock valued at $2,629,182 over the last ninety days. 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.