PDT Partners LLC Grows Position in Symbotic Inc. $SYM

PDT Partners LLC lifted its holdings in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 154.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,937 shares of the company's stock after buying an additional 73,397 shares during the period. PDT Partners LLC's holdings in Symbotic were worth $2,444,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SYM. Canada Pension Plan Investment Board purchased a new stake in shares of Symbotic during the first quarter valued at $4,968,000. ARK Investment Management LLC boosted its position in shares of Symbotic by 106.9% during the first quarter. ARK Investment Management LLC now owns 393,293 shares of the company's stock valued at $7,948,000 after buying an additional 203,226 shares during the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of Symbotic during the fourth quarter valued at $4,441,000. Janus Henderson Group PLC boosted its position in shares of Symbotic by 931.7% during the fourth quarter. Janus Henderson Group PLC now owns 179,516 shares of the company's stock valued at $4,256,000 after buying an additional 162,116 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its position in shares of Symbotic by 12.1% during the first quarter. Raymond James Financial Inc. now owns 980,922 shares of the company's stock valued at $19,824,000 after buying an additional 105,616 shares during the last quarter.

Symbotic Stock Down 3.9%

SYM stock opened at $47.43 on Tuesday. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $64.16. The stock has a market cap of $28.01 billion, a P/E ratio of -677.47 and a beta of 2.05. The business's 50-day moving average price is $48.88 and its 200-day moving average price is $32.99.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.08). The company had revenue of $592.12 million for the quarter, compared to analysts' expectations of $533.55 million. Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The firm's quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) earnings per share. On average, equities research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Activity at Symbotic

In related news, Director Rollin L. Ford sold 90,000 shares of Symbotic stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $51.57, for a total transaction of $4,641,300.00. Following the sale, the director owned 14,507 shares of the company's stock, valued at approximately $748,125.99. This trade represents a 86.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Maria G. Freve sold 2,000 shares of Symbotic stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $51.93, for a total value of $103,860.00. Following the sale, the insider directly owned 1,312 shares in the company, valued at $68,132.16. This trade represents a 60.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 484,632 shares of company stock worth $23,837,791 in the last three months. Corporate insiders own 0.60% of the company's stock.

Analyst Ratings Changes

SYM has been the topic of several recent analyst reports. DA Davidson reaffirmed a "neutral" rating and set a $47.00 price objective (up from $35.00) on shares of Symbotic in a research report on Monday, August 25th. Baird R W cut Symbotic from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Citigroup reissued a "buy" rating on shares of Symbotic in a research report on Monday, July 14th. Robert W. Baird cut Symbotic from an "outperform" rating to a "neutral" rating and set a $55.00 target price on the stock. in a research report on Thursday, August 7th. Finally, Needham & Company LLC raised their target price on Symbotic from $32.00 to $57.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Symbotic has an average rating of "Hold" and a consensus price target of $43.44.

Symbotic 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.

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