Polianta Ltd Makes New Investment in Symbotic Inc. $SYM

Key Points

• Polianta Ltd opened a new position in Symbotic during Q1, buying 30,000 shares worth about $1.6 million. The stake represents roughly 0.2% of its portfolio and ranks as its 27th largest holding.
• Several other big investors also boosted their Symbotic positions, including Vanguard, Handelsbanken Fonder, ARK Investment Management, and M&T Bank. This suggests continued institutional interest in the stock.
• Insiders have been selling shares recently, with 144,431 shares sold over the last 90 days, while analysts are mixed overall. Symbotic reported mixed quarterly results, missing EPS expectations but beating revenue estimates, and the stock has a Hold consensus with an average price target of $65.23.

Polianta Ltd acquired a new stake in Symbotic Inc. (NASDAQ:SYM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,000 shares of the company's stock, valued at approximately $1,596,000. Symbotic accounts for about 0.2% of Polianta Ltd's investment portfolio, making the stock its 27th largest holding.

Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in Symbotic by 47.6% during the 4th quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company's stock valued at $412,463,000 after acquiring an additional 2,237,137 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Symbotic by 54.3% during the 4th quarter. Handelsbanken Fonder AB now owns 423,020 shares of the company's stock valued at $25,170,000 after buying an additional 148,842 shares during the last quarter. ARK Investment Management LLC grew its holdings in Symbotic by 32.4% during the 3rd quarter. ARK Investment Management LLC now owns 589,887 shares of the company's stock valued at $31,795,000 after buying an additional 144,389 shares during the last quarter. M&T Bank Corp increased its position in Symbotic by 1,108.8% during the fourth quarter. M&T Bank Corp now owns 330,882 shares of the company's stock worth $19,687,000 after buying an additional 303,510 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in Symbotic during the fourth quarter worth $1,581,000.

Insiders Place Their Bets

In other news, SVP Brian Daniel Alexander sold 37,860 shares of Symbotic stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $59.97, for a total value of $2,270,464.20. Following the completion of the transaction, the senior vice president directly owned 44,229 shares of the company's stock, valued at approximately $2,652,413.13. The trade was a 46.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William M. Boyd III sold 9,194 shares of Symbotic stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $58.75, for a total value of $540,147.50. Following the completion of the transaction, the insider owned 62,227 shares of the company's stock, valued at approximately $3,655,836.25. The trade was a 12.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 144,431 shares of company stock valued at $8,141,204. 8.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SYM shares. DA Davidson reissued a "buy" rating and issued a $70.00 price objective on shares of Symbotic in a research report on Monday, May 11th. Weiss Ratings downgraded Symbotic from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Barclays raised their price objective on Symbotic from $42.00 to $44.00 and gave the stock an "underweight" rating in a report on Monday, March 16th. Wall Street Zen downgraded Symbotic from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, The Goldman Sachs Group lowered their price target on Symbotic from $54.00 to $45.00 and set a "sell" rating for the company in a report on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $65.23.

Symbotic Price Performance

Shares of NASDAQ:SYM opened at $41.68 on Friday. The company has a market capitalization of $25.12 billion, a price-to-earnings ratio of -833.43, a price-to-earnings-growth ratio of 6.15 and a beta of 1.91. The company has a 50 day moving average of $51.69 and a two-hundred day moving average of $55.95. Symbotic Inc. has a 52-week low of $32.07 and a 52-week high of $87.88.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.11). The firm had revenue of $676.48 million during the quarter, compared to analyst estimates of $662.65 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 quarter in the prior year, the firm earned ($0.04) EPS. On average, equities analysts anticipate that Symbotic Inc. will post 0.23 earnings per share for the current 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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