UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Position in Symbotic Inc. (NASDAQ:SYM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Symbotic Inc. (NASDAQ:SYM - Free Report) by 26.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 73,801 shares of the company's stock after purchasing an additional 15,394 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Symbotic were worth $1,750,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. IFP Advisors Inc boosted its holdings in shares of Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock valued at $32,000 after buying an additional 503 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Symbotic during the 4th quarter valued at $47,000. Private Trust Co. NA bought a new stake in shares of Symbotic during the 4th quarter valued at $47,000. Jones Financial Companies Lllp boosted its holdings in shares of Symbotic by 154.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock valued at $58,000 after buying an additional 1,490 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Symbotic by 40.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company's stock valued at $85,000 after buying an additional 1,018 shares in the last quarter.

Symbotic Trading Up 2.0%

Shares of NASDAQ SYM traded up $0.57 during mid-day trading on Wednesday, hitting $28.80. The company had a trading volume of 1,052,841 shares, compared to its average volume of 1,934,047. The company has a market capitalization of $16.98 billion, a PE ratio of -411.37, a price-to-earnings-growth ratio of 6.48 and a beta of 1.95. The firm has a 50-day simple moving average of $24.62 and a two-hundred day simple moving average of $25.26. Symbotic Inc. has a one year low of $16.32 and a one year high of $41.76.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. The business had revenue of $549.65 million during the quarter, compared to the consensus estimate of $522.36 million. During the same period in the prior year, the firm earned ($0.07) EPS. The business's revenue for the quarter was up 39.7% compared to the same quarter last year. Sell-side analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. BWS Financial reaffirmed a "sell" rating and issued a $10.00 price target on shares of Symbotic in a research report on Wednesday, April 2nd. The Goldman Sachs Group decreased their target price on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. UBS Group decreased their target price on Symbotic from $32.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Finally, Citigroup decreased their target price on Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Symbotic has an average rating of "Hold" and an average price target of $37.20.

Insider Activity at Symbotic

In related news, Director Todd Krasnow sold 4,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $30.63, for a total transaction of $122,520.00. Following the sale, the director now owns 189,036 shares of the company's stock, valued at $5,790,172.68. This represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William M. Boyd III sold 2,455 shares of Symbotic stock in a transaction on Monday, March 17th. The stock was sold at an average price of $22.31, for a total transaction of $54,771.05. Following the completion of the transaction, the insider now directly owns 39,659 shares in the company, valued at $884,792.29. This represents a 5.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,056 shares of company stock valued at $1,028,601. Insiders own 0.60% of the company's stock.

Symbotic Company 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.