S Squared Technology LLC Has $15.72 Million Position in Symbotic Inc. $SYM

Key Points

• S Squared Technology LLC cut its Symbotic stake by 24.5% in Q4, but still held 264,126 shares valued at about $15.7 million. Symbotic remains its third-largest holding and makes up 6.1% of the portfolio.
• Analyst sentiment on SYM is mixed: firms including DA Davidson kept a buy rating, while Weiss Ratings and Goldman Sachs turned more bearish. Overall, the stock’s consensus rating is Hold with an average price target of $65.23.
• Recent company updates showed insider selling and a weaker-than-expected earnings result. Symbotic reported $0.01 EPS versus $0.12 expected, though revenue topped estimates at $676.48 million and rose 23.1% year over year.

S Squared Technology LLC trimmed its position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 24.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 264,126 shares of the company's stock after selling 85,874 shares during the period. Symbotic accounts for approximately 6.1% of S Squared Technology LLC's portfolio, making the stock its 3rd largest holding. S Squared Technology LLC's holdings in Symbotic were worth $15,715,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mariner LLC grew its holdings in Symbotic by 256.6% during the fourth quarter. Mariner LLC now owns 28,254 shares of the company's stock valued at $1,681,000 after purchasing an additional 20,331 shares during the period. Fieldview Capital Management LLC bought a new position in Symbotic during the fourth quarter valued at $1,380,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Symbotic during the fourth quarter valued at $6,264,000. Parkside Financial Bank & Trust grew its holdings in Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company's stock valued at $32,000 after purchasing an additional 268 shares during the period. Finally, Marshall Wace LLP bought a new position in Symbotic during the fourth quarter valued at $33,997,000.

Analyst Ratings Changes

A number of research firms have recently commented on SYM. Weiss Ratings lowered Symbotic from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. DA Davidson reaffirmed a "buy" rating and issued a $70.00 price target on shares of Symbotic in a report on Monday, May 11th. The Goldman Sachs Group cut 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. Barclays raised their price target on Symbotic from $42.00 to $44.00 and gave the stock an "underweight" rating in a report on Monday, March 16th. Finally, Zacks Research raised Symbotic from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $65.23.

Insider Activity at Symbotic

In related news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction on Monday, June 1st. The stock was sold at an average price of $47.30, for a total transaction of $94,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Maria G. Freve sold 2,265 shares of Symbotic stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $57.72, for a total value of $130,735.80. Following the sale, the insider directly owned 739 shares of the company's stock, valued at $42,655.08. This represents a 75.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 144,431 shares of company stock valued at $8,141,204 in the last ninety days. 8.16% of the stock is currently owned by corporate insiders.

Symbotic Price Performance

Symbotic stock opened at $41.63 on Monday. Symbotic Inc. has a one year low of $27.26 and a one year high of $87.88. The business has a fifty day moving average price of $52.90 and a 200-day moving average price of $57.26. The firm has a market capitalization of $25.09 billion, a P/E ratio of -832.43, a PEG ratio of 6.14 and a beta of 1.92.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.11). The business had revenue of $676.48 million for the quarter, compared to the consensus estimate of $662.66 million. Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. Symbotic's quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) EPS. Sell-side analysts expect that Symbotic Inc. will post 0.23 earnings per share 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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