Freemont Management S.A. Purchases 22,100 Shares of Symbotic Inc. $SYM

Key Points

• Freemont Management S.A. boosted its Symbotic stake by 197.3% in the fourth quarter, buying 22,100 additional shares and bringing its total to 33,300 shares valued at about $1.98 million.
• Insiders have been selling shares: Director Todd Krasnow and CTO James Kuffner both sold stock recently, and insiders have sold 123,003 shares worth about $7.0 million over the last 90 days.
• Symbotic’s latest results were mixed, with revenue topping estimates at $676.48 million but EPS missing expectations at $0.01 versus $0.12 expected. Analysts currently have a consensus Hold rating with a $65.62 target price.

Freemont Management S.A. raised its position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 197.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,300 shares of the company's stock after purchasing an additional 22,100 shares during the quarter. Freemont Management S.A.'s holdings in Symbotic were worth $1,981,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Proactive Wealth Strategies LLC bought a new stake in Symbotic during the 4th quarter valued at about $880,000. International Assets Investment Management LLC purchased a new stake in shares of Symbotic during the 4th quarter valued at about $330,000. Total Investment Management Inc. purchased a new stake in shares of Symbotic during the 4th quarter valued at about $202,000. SBI Securities Co. Ltd. boosted its holdings in shares of Symbotic by 9.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 9,462 shares of the company's stock valued at $563,000 after acquiring an additional 817 shares during the last quarter. Finally, Nordwand Advisors LLC purchased a new stake in shares of Symbotic during the 4th quarter valued at about $799,000.

Insider Buying and Selling

In related news, Director Todd Krasnow sold 25,422 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $52.45, for a total value of $1,333,383.90. Following the transaction, the director owned 182,036 shares of the company's stock, valued at approximately $9,547,788.20. This trade represents a 12.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO James Kuffner sold 19,729 shares of the firm's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $59.82, for a total transaction of $1,180,188.78. Following the completion of the transaction, the chief technology officer directly owned 179,255 shares in the company, valued at approximately $10,723,034.10. The trade was a 9.91% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 123,003 shares of company stock valued at $6,996,241 in the last 90 days. 8.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SYM shares. Zacks Research raised shares of Symbotic from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 18th. Needham & Company LLC raised their price target on shares of Symbotic from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, February 5th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $50.00 price target on shares of Symbotic in a report on Thursday, January 15th. DA Davidson reaffirmed a "buy" rating and set a $70.00 price target on shares of Symbotic in a report on Monday. Finally, Citigroup reaffirmed an "outperform" rating on shares of Symbotic in a report on Thursday, February 5th. Seven 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 data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $65.62.

Symbotic Trading Down 3.1%

SYM opened at $49.73 on Thursday. The company has a market cap of $29.95 billion, a price-to-earnings ratio of -994.40, a PEG ratio of 5.14 and a beta of 2.03. The company's 50 day moving average is $54.49 and its 200 day moving average is $60.15. Symbotic Inc. has a 12-month low of $26.03 and a 12-month high of $87.88.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.11). The business had revenue of $676.48 million during the quarter, compared to analysts' expectations of $662.66 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The business's quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) EPS. As a group, analysts predict that Symbotic Inc. will post 0.33 EPS for the current fiscal year.

Symbotic Company 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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