Janus Henderson Group PLC Acquires 162,116 Shares of Symbotic Inc. (NASDAQ:SYM)

Janus Henderson Group PLC boosted its position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 931.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 179,516 shares of the company's stock after buying an additional 162,116 shares during the quarter. Janus Henderson Group PLC's holdings in Symbotic were worth $4,256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYM. Barclays PLC raised its position in Symbotic by 1,105.9% during the 3rd quarter. Barclays PLC now owns 9,346 shares of the company's stock valued at $228,000 after purchasing an additional 8,571 shares during the last quarter. MCF Advisors LLC bought a new stake in Symbotic in the fourth quarter valued at $85,000. Bourne Lent Asset Management Inc. increased its position in Symbotic by 34.8% during the 4th quarter. Bourne Lent Asset Management Inc. now owns 87,210 shares of the company's stock valued at $2,068,000 after purchasing an additional 22,500 shares during the period. SG Americas Securities LLC bought a new position in Symbotic in the 4th quarter worth $559,000. Finally, Hunter Associates Investment Management LLC raised its holdings in Symbotic by 6.8% in the 4th quarter. Hunter Associates Investment Management LLC now owns 67,413 shares of the company's stock worth $1,599,000 after purchasing an additional 4,320 shares in the last quarter.

Symbotic Stock Down 2.3%

Shares of Symbotic stock traded down $0.68 during trading hours on Friday, reaching $28.75. 1,436,019 shares of the stock traded hands, compared to its average volume of 1,934,499. Symbotic Inc. has a one year low of $16.32 and a one year high of $42.45. The firm has a market capitalization of $16.95 billion, a price-to-earnings ratio of -410.66, a P/E/G ratio of 6.48 and a beta of 1.85. The company has a 50 day moving average price of $22.49 and a 200 day moving average price of $25.62.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $549.65 million for the quarter, compared to the consensus estimate of $522.36 million. During the same quarter last year, the firm posted ($0.07) earnings per share. The business's quarterly revenue was up 39.7% compared to the same quarter last year. Sell-side analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current year.

Insider Activity

In other Symbotic news, insider William M. Boyd III sold 2,455 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $22.31, for a total transaction of $54,771.05. Following the sale, the insider now owns 39,659 shares in the company, valued at approximately $884,792.29. This trade represents a 5.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maria G. Freve sold 1,929 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $21.69, for a total transaction of $41,840.01. Following the completion of the transaction, the insider now owns 2,646 shares of the company's stock, valued at approximately $57,391.74. The trade was a 42.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,447 shares of company stock valued at $858,000 in the last 90 days. Company insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SYM. UBS Group lowered their price objective on shares of Symbotic from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Raymond James cut shares of Symbotic from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. Needham & Company LLC lowered their price target on shares of Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $60.00 target price on shares of Symbotic in a research note on Thursday, February 6th. Finally, BWS Financial restated a "sell" rating and issued a $10.00 price target on shares of Symbotic in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Symbotic presently has a consensus rating of "Hold" and an average target price 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.