Symbotic Inc. $SYM is S Squared Technology LLC's 8th Largest Position

Key Points

• S Squared Technology LLC increased its stake in Symbotic Inc. by 6.7%, making it the firm's 8th largest holding valued at approximately $9.7 million.
• Symbotic's stock price fell 1.3% to $47.60, with a market cap of $28.11 billion and a reported negative earnings per share of ($0.05) for the last quarter.
• Analysts have mixed ratings on Symbotic, with six showing a Buy rating, while others have downgraded it, resulting in a consensus rating of "Hold" and an average target price of $43.44.

S Squared Technology LLC boosted its holdings in Symbotic Inc. (NASDAQ:SYM - Free Report) by 6.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 480,000 shares of the company's stock after buying an additional 30,000 shares during the period. Symbotic makes up 5.0% of S Squared Technology LLC's investment portfolio, making the stock its 8th biggest holding. S Squared Technology LLC owned approximately 0.08% of Symbotic worth $9,701,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SYM. Canada Pension Plan Investment Board purchased a new position in Symbotic in the 1st quarter valued at approximately $4,968,000. ARK Investment Management LLC grew its stake in Symbotic by 106.9% in the 1st quarter. ARK Investment Management LLC now owns 393,293 shares of the company's stock valued at $7,948,000 after buying an additional 203,226 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Symbotic by 16.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,343,902 shares of the company's stock valued at $27,155,000 after purchasing an additional 187,538 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Symbotic by 931.7% during the 4th quarter. Janus Henderson Group PLC now owns 179,516 shares of the company's stock valued at $4,256,000 after purchasing an additional 162,116 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of Symbotic by 12.1% during the 1st quarter. Raymond James Financial Inc. now owns 980,922 shares of the company's stock valued at $19,824,000 after purchasing an additional 105,616 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SYM. Oppenheimer boosted their price target on shares of Symbotic from $54.00 to $59.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Northland Securities boosted their price target on shares of Symbotic from $35.00 to $56.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Wall Street Zen lowered shares of Symbotic from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. DA Davidson restated a "neutral" rating and set a $47.00 price target (up from $35.00) on shares of Symbotic in a research report on Monday, August 25th. Finally, Arete lowered shares of Symbotic from a "buy" rating to a "neutral" rating and set a $50.00 price target for the company. in a research report on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $43.44.

Symbotic Stock Down 1.3%

Symbotic stock opened at $47.60 on Tuesday. The company has a market capitalization of $28.11 billion, a PE ratio of -679.90 and a beta of 2.05. The firm has a fifty day simple moving average of $49.91 and a two-hundred day simple moving average of $33.69. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $64.16.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.08). The business had revenue of $592.12 million during the quarter, compared to the consensus estimate of $533.55 million. Symbotic had a negative return on equity of 2.02% and a negative net margin of 0.38%.The business's revenue for the quarter was up 25.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) earnings per share. As a group, equities analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Rollin L. Ford sold 90,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $51.57, for a total transaction of $4,641,300.00. Following the completion of the transaction, the director directly owned 14,507 shares of the company's stock, valued at approximately $748,125.99. This represents a 86.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Maria G. Freve sold 2,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $51.93, for a total transaction of $103,860.00. Following the transaction, the insider directly owned 1,312 shares of the company's stock, valued at approximately $68,132.16. This trade represents a 60.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 488,632 shares of company stock valued at $24,020,351 over the last three months. 0.60% of the stock is currently owned by company insiders.

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.

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