Symbotic Inc. (NASDAQ:SYM) Stake Boosted by Robocap Asset Management Ltd

Robocap Asset Management Ltd grew its stake in Symbotic Inc. (NASDAQ:SYM - Free Report) by 143.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 140,222 shares of the company's stock after buying an additional 82,542 shares during the quarter. Symbotic accounts for about 2.1% of Robocap Asset Management Ltd's portfolio, making the stock its 20th largest holding. Robocap Asset Management Ltd's holdings in Symbotic were worth $2,834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Commonwealth Equity Services LLC raised its position in Symbotic by 1.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company's stock worth $1,154,000 after acquiring an additional 619 shares during the period. Spire Wealth Management raised its position in shares of Symbotic by 8.0% during the 1st quarter. Spire Wealth Management now owns 13,596 shares of the company's stock worth $275,000 after purchasing an additional 1,012 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Symbotic by 40.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company's stock worth $85,000 after buying an additional 1,018 shares during the last quarter. Bourne Lent Asset Management Inc. boosted its holdings in Symbotic by 1.3% in the 1st quarter. Bourne Lent Asset Management Inc. now owns 88,360 shares of the company's stock worth $1,786,000 after buying an additional 1,150 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in Symbotic by 5.7% during the 4th quarter. Cetera Investment Advisers now owns 24,621 shares of the company's stock worth $584,000 after buying an additional 1,332 shares in the last quarter.

Insider Activity at Symbotic

In related news, Director Todd Krasnow sold 4,000 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $46.48, for a total transaction of $185,920.00. Following the completion of the sale, the director directly owned 189,036 shares of the company's stock, valued at approximately $8,786,393.28. This trade represents a 2.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William M. Boyd III sold 2,455 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $31.07, for a total transaction of $76,276.85. Following the completion of the sale, the insider owned 34,544 shares in the company, valued at approximately $1,073,282.08. This trade represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,616 shares of company stock valued at $1,326,437 over the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Symbotic Stock Up 3.2%

SYM stock traded up $1.47 during trading on Wednesday, hitting $47.16. The company had a trading volume of 1,766,608 shares, compared to its average volume of 2,048,523. The firm has a 50-day moving average price of $31.01 and a 200-day moving average price of $26.59. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $48.40. The firm has a market cap of $27.81 billion, a PE ratio of -1,179.00, a price-to-earnings-growth ratio of 76.15 and a beta of 2.03.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). Symbotic had a negative net margin of 0.23% and a negative return on equity of 1.26%. The business had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. During the same quarter in the prior year, the company earned ($0.07) earnings per share. The firm's revenue for the quarter 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.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Arete Research upgraded Symbotic to a "strong-buy" rating and set a $50.00 target price on the stock in a research report on Wednesday, June 25th. Arete began coverage on shares of Symbotic in a research note on Wednesday, June 25th. They set a "buy" rating and a $50.00 target price on the stock. BWS Financial reiterated a "sell" rating and issued a $10.00 target price on shares of Symbotic in a research report on Wednesday, April 2nd. Citigroup decreased their price target on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, The Goldman Sachs Group dropped their price objective on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Symbotic currently has an average rating of "Moderate Buy" and an average price target of $39.59.

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.