Janus Henderson Group PLC Boosts Stake in Symbotic Inc. (NASDAQ:SYM)

Janus Henderson Group PLC raised its position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 931.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 179,516 shares of the company's stock after acquiring an additional 162,116 shares during the period. Janus Henderson Group PLC's holdings in Symbotic were worth $4,256,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SYM. IFP Advisors Inc grew its position in Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock valued at $32,000 after acquiring an additional 503 shares during the period. Private Trust Co. NA purchased a new stake in Symbotic during the fourth quarter valued at about $47,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Symbotic during the fourth quarter valued at about $47,000. Jones Financial Companies Lllp grew 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 during the period. Finally, MCF Advisors LLC purchased a new stake in Symbotic during the fourth quarter valued at about $85,000.

Insider Transactions at Symbotic

In other news, CFO Carol J. Hibbard sold 4,628 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $22.62, for a total transaction of $104,685.36. Following the sale, the chief financial officer now directly owns 54,011 shares in the company, valued at approximately $1,221,728.82. This represents a 7.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rollin L. Ford sold 28,740 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $26.02, for a total value of $747,814.80. Following the sale, the director now owns 10,447 shares in the company, valued at $271,830.94. The trade was a 73.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,847 shares of company stock worth $1,733,870. 0.60% of the stock is currently owned by company insiders.

Symbotic Stock Up 2.7%

NASDAQ:SYM opened at $27.67 on Monday. The business's 50 day moving average is $21.80 and its two-hundred day moving average is $25.63. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $44.08. The company has a market cap of $16.28 billion, a PE ratio of -395.23, a P/E/G ratio of 6.48 and a beta of 1.85.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SYM shares. Needham & Company LLC decreased their target price on Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Raymond James downgraded Symbotic from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. The Goldman Sachs Group decreased their target price on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. UBS Group decreased their target price on Symbotic from $32.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Finally, Citigroup decreased their target price on Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $37.20.

About Symbotic

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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