SG Americas Securities LLC raised its holdings in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 44.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,986 shares of the company's stock after acquiring an additional 10,401 shares during the period. SG Americas Securities LLC's holdings in Symbotic were worth $687,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its stake in shares of Symbotic by 15.4% in the 4th quarter. Sanctuary Advisors LLC now owns 48,692 shares of the company's stock worth $1,154,000 after buying an additional 6,495 shares in the last quarter. Alberta Investment Management Corp bought a new stake in shares of Symbotic in the 4th quarter worth $586,000. Handelsbanken Fonder AB raised its stake in shares of Symbotic by 28.0% in the 4th quarter. Handelsbanken Fonder AB now owns 11,900 shares of the company's stock worth $282,000 after buying an additional 2,600 shares in the last quarter. Grove Street Fiduciary LLC bought a new stake in shares of Symbotic in the 4th quarter worth $200,000. Finally, TCW Group Inc. raised its stake in shares of Symbotic by 51.7% in the 4th quarter. TCW Group Inc. now owns 582,955 shares of the company's stock worth $13,822,000 after buying an additional 198,681 shares in the last quarter.
Symbotic Stock Performance
Shares of SYM stock traded down $1.70 on Friday, reaching $34.00. 4,459,878 shares of the company's stock traded hands, compared to its average volume of 1,973,330. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $41.76. The company has a market capitalization of $20.05 billion, a P/E ratio of -850.00, a price-to-earnings-growth ratio of 56.67 and a beta of 1.95. The business's 50 day moving average price is $26.37 and its two-hundred day moving average price is $25.42.
Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $522.36 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. The business's quarterly revenue was up 39.7% compared to the same quarter last year. Research analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.
Insider Activity
In other Symbotic news, insider William M. Boyd III sold 11,735 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $21.95, for a total value of $257,583.25. Following the transaction, the insider now owns 36,999 shares in the company, valued at $812,128.05. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael David Dunn sold 2,040 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.24, for a total value of $45,369.60. Following the completion of the transaction, the insider now owns 23,822 shares in the company, valued at $529,801.28. This trade represents a 7.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,056 shares of company stock worth $1,198,707. 0.60% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Citigroup dropped their price objective on Symbotic from $37.00 to $29.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. BWS Financial reissued a "sell" rating and issued a $10.00 price objective on shares of Symbotic in a research note on Wednesday, April 2nd. UBS Group dropped their price objective on Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group dropped their price objective on Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Symbotic presently has an average rating of "Hold" and a consensus target price of $37.20.
Get Our Latest Report on SYM
Symbotic Company Profile
(
Free Report)
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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