Symbotic Inc. $SYM Shares Acquired by Amundi

Amundi lifted its position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 53.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,192 shares of the company's stock after buying an additional 24,993 shares during the period. Amundi's holdings in Symbotic were worth $1,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in SYM. GAMMA Investing LLC increased its holdings in shares of Symbotic by 1,812.2% during the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock worth $29,000 after buying an additional 1,341 shares during the last quarter. Ulland Investment Advisors LLC purchased a new position in shares of Symbotic during the 1st quarter worth approximately $31,000. CWM LLC boosted its position in shares of Symbotic by 408.2% during the 1st quarter. CWM LLC now owns 2,602 shares of the company's stock worth $53,000 after purchasing an additional 2,090 shares during the period. AlphaQuest LLC boosted its position in shares of Symbotic by 318.5% during the 1st quarter. AlphaQuest LLC now owns 2,800 shares of the company's stock worth $57,000 after purchasing an additional 2,131 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Symbotic by 54.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,932 shares of the company's stock worth $120,000 after purchasing an additional 2,100 shares during the period.

Insider Activity

In related news, insider Maria G. Freve sold 2,000 shares of Symbotic stock in a transaction on Monday, August 18th. The shares were sold at an average price of $51.93, for a total transaction of $103,860.00. Following the sale, the insider directly owned 1,312 shares in the company, valued at $68,132.16. This trade represents a 60.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rollin L. Ford sold 90,000 shares of Symbotic stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $51.57, for a total transaction of $4,641,300.00. Following the sale, the director owned 14,507 shares in the company, valued at $748,125.99. This represents a 86.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 484,632 shares of company stock worth $23,901,751 over the last three months. Company insiders own 0.60% of the company's stock.

Symbotic Stock Down 2.4%

Shares of SYM stock opened at $47.75 on Friday. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $64.16. The stock has a market capitalization of $28.20 billion, a PE ratio of -682.05 and a beta of 2.05. The firm has a 50 day moving average of $50.25 and a two-hundred day moving average of $34.23.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SYM. Northland Securities increased their price objective on shares of Symbotic from $35.00 to $56.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. DA Davidson reaffirmed a "neutral" rating and set a $47.00 price objective (up previously from $35.00) on shares of Symbotic in a research report on Monday, August 25th. Needham & Company LLC increased their price objective on shares of Symbotic from $32.00 to $57.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Oppenheimer increased their price objective on shares of Symbotic from $54.00 to $59.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Citigroup reaffirmed a "buy" rating on shares of Symbotic in a research report on Monday, July 14th. 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $43.44.

About Symbotic

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.

Want to see what other hedge funds are holding SYM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Symbotic Inc. (NASDAQ:SYM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.