Exchange Traded Concepts LLC Has $13.76 Million Stock Position in Symbotic Inc. (NASDAQ:SYM)

Exchange Traded Concepts LLC grew its holdings in Symbotic Inc. (NASDAQ:SYM - Free Report) by 18.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 680,734 shares of the company's stock after acquiring an additional 104,068 shares during the quarter. Exchange Traded Concepts LLC owned 0.12% of Symbotic worth $13,758,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sanctuary Advisors LLC grew its position in Symbotic by 15.4% during the fourth quarter. Sanctuary Advisors LLC now owns 48,692 shares of the company's stock worth $1,154,000 after buying an additional 6,495 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Symbotic during the 4th quarter worth $586,000. Handelsbanken Fonder AB increased its position in shares of Symbotic by 28.0% in the fourth quarter. Handelsbanken Fonder AB now owns 11,900 shares of the company's stock worth $282,000 after purchasing an additional 2,600 shares during the period. Grove Street Fiduciary LLC bought a new position in shares of Symbotic in the fourth quarter worth $200,000. Finally, TCW Group Inc. raised its stake in Symbotic by 51.7% in the fourth quarter. TCW Group Inc. now owns 582,955 shares of the company's stock valued at $13,822,000 after purchasing an additional 198,681 shares in the last quarter.

Insider Activity at Symbotic

In other news, insider William M. Boyd III sold 2,455 shares of Symbotic stock in a transaction on Monday, March 17th. The shares were sold at an average price of $22.31, for a total value of $54,771.05. Following the completion of the sale, the insider now owns 39,659 shares in the company, valued at $884,792.29. The trade was a 5.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Todd Krasnow sold 4,000 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $30.63, for a total transaction of $122,520.00. Following the transaction, the director now owns 189,036 shares in the company, valued at $5,790,172.68. The trade was a 2.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,056 shares of company stock worth $1,147,201 over the last quarter. Company insiders own 0.60% of the company's stock.

Symbotic Stock Performance

Shares of SYM stock traded down $0.04 on Friday, hitting $27.97. The company had a trading volume of 1,131,702 shares, compared to its average volume of 1,937,064. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $41.76. The firm has a market cap of $16.49 billion, a P/E ratio of -399.51, a P/E/G ratio of 6.48 and a beta of 1.95. The stock's 50-day moving average is $25.01 and its two-hundred day moving average is $25.14.

Symbotic (NASDAQ:SYM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. The firm had revenue of $549.65 million for the quarter, compared to analyst estimates of $522.36 million. During the same period in the prior year, the company posted ($0.07) EPS. The business's revenue for the quarter was up 39.7% compared to the same quarter last year. Equities research analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Analyst Upgrades and Downgrades

SYM has been the topic of a number of analyst reports. BWS Financial reiterated a "sell" rating and set a $10.00 price objective on shares of Symbotic in a research note on Wednesday, April 2nd. UBS Group reduced their target price on Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. The Goldman Sachs Group lowered their price target on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Finally, Citigroup dropped their target price on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $37.20.

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.