M&T Bank Corp Purchases 303,510 Shares of Symbotic Inc. $SYM

Key Points

• M&T Bank Corp grew its stake in Symbotic by 1,108.8% in Q4, adding 303,510 shares to hold 330,882 shares worth about $19.69 million (≈0.06% of the company).
• Company insiders sold a total of 178,492 shares (≈$10.31 million) over the last quarter — including director sales executed under Rule 10b5‑1 plans — leaving insiders with 8.16% ownership.
• Analysts are mixed: Symbotic has a consensus rating of Hold with a $65.62 price target, although firms like DA Davidson and Needham have recently upgraded/raised targets to $70 and $75 respectively.

M&T Bank Corp grew its position in Symbotic Inc. (NASDAQ:SYM - Free Report) by 1,108.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 330,882 shares of the company's stock after acquiring an additional 303,510 shares during the quarter. M&T Bank Corp owned about 0.06% of Symbotic worth $19,687,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Barton Investment Management bought a new stake in Symbotic in the third quarter worth about $1,640,000. Grove Street Fiduciary LLC grew its stake in shares of Symbotic by 314.4% during the third quarter. Grove Street Fiduciary LLC now owns 35,000 shares of the company's stock valued at $1,886,000 after buying an additional 26,555 shares during the last quarter. Mutual Advisors LLC bought a new position in shares of Symbotic during the third quarter valued at approximately $1,919,000. ARK Investment Management LLC raised its holdings in shares of Symbotic by 32.4% in the third quarter. ARK Investment Management LLC now owns 589,887 shares of the company's stock worth $31,795,000 after buying an additional 144,389 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of Symbotic by 156.7% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 93,751 shares of the company's stock worth $5,053,000 after buying an additional 57,224 shares during the period.

Insider Buying and Selling

In other news, Director Charles Kane sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $53.74, for a total value of $107,480.00. Following the completion of the sale, the director owned 89,852 shares of the company's stock, valued at approximately $4,828,646.48. This represents a 2.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $53.27, for a total transaction of $106,540.00. Following the transaction, the director directly owned 10,345 shares in the company, valued at approximately $551,078.15. The trade was a 16.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 178,492 shares of company stock valued at $10,313,214 over the last quarter. 8.16% of the stock is owned by company insiders.

Analyst Ratings Changes

SYM has been the subject of a number of recent analyst reports. Weiss Ratings restated a "hold (c-)" rating on shares of Symbotic in a report on Tuesday. DA Davidson upgraded Symbotic from a "neutral" rating to a "buy" rating and increased their target price for the stock from $57.00 to $70.00 in a research note on Wednesday, April 15th. Needham & Company LLC lifted their target price on Symbotic from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Barclays boosted their target price on shares of Symbotic from $42.00 to $44.00 and gave the company an "underweight" rating in a research note on Monday, March 16th. Finally, UBS Group set a $70.00 price target on shares of Symbotic in a research note on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Symbotic currently has a consensus rating of "Hold" and a consensus price target of $65.62.

Symbotic Stock Down 1.1%

Shares of NASDAQ:SYM opened at $62.51 on Friday. Symbotic Inc. has a 52-week low of $20.50 and a 52-week high of $87.88. The stock has a market cap of $37.64 billion, a P/E ratio of -625.04, a price-to-earnings-growth ratio of 6.34 and a beta of 2.10. The business's 50 day moving average is $54.25 and its 200 day moving average is $61.37.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.06). Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The firm had revenue of $629.99 million for the quarter, compared to the consensus estimate of $622.58 million. During the same period last year, the firm earned ($0.03) earnings per share. The company's revenue for the quarter was up 29.4% on a year-over-year basis. On average, sell-side analysts anticipate 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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