Symbotic Inc. $SYM Shares Bought by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB increased its Symbotic stake by 54.3% in the fourth quarter, buying 148,842 shares to bring its total to 423,020 shares worth about $25.17 million.
• Insider selling continued, with CTO James Kuffner and insider William M. Boyd III both selling shares; company insiders sold 123,003 shares in the last quarter overall.
• Symbotic’s latest earnings were mixed: revenue rose 23.1% year over year to $676.48 million and topped estimates, but EPS came in at $0.01, below the $0.12 consensus forecast.

Handelsbanken Fonder AB grew its position in Symbotic Inc. (NASDAQ:SYM - Free Report) by 54.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 423,020 shares of the company's stock after buying an additional 148,842 shares during the quarter. Handelsbanken Fonder AB owned 0.07% of Symbotic worth $25,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Symbotic by 47.6% in the fourth quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company's stock valued at $412,463,000 after buying an additional 2,237,137 shares in the last quarter. UBS Group AG grew its stake in shares of Symbotic by 22.3% in the third quarter. UBS Group AG now owns 1,105,770 shares of the company's stock valued at $59,601,000 after buying an additional 201,547 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Symbotic by 23.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 726,411 shares of the company's stock valued at $47,122,000 after buying an additional 136,111 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of Symbotic by 32.4% in the third quarter. ARK Investment Management LLC now owns 589,887 shares of the company's stock valued at $31,795,000 after buying an additional 144,389 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Symbotic by 25.6% in the third quarter. First Trust Advisors LP now owns 351,021 shares of the company's stock valued at $18,920,000 after buying an additional 71,531 shares in the last quarter.

Insider Buying and Selling at Symbotic

In other news, CTO James Kuffner sold 19,729 shares of the business's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $59.82, for a total value of $1,180,188.78. Following the completion of the sale, the chief technology officer directly owned 179,255 shares of the company's stock, valued at approximately $10,723,034.10. The trade was a 9.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William M. Boyd III sold 9,194 shares of the business's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $58.75, for a total value of $540,147.50. Following the completion of the sale, the insider directly owned 62,227 shares of the company's stock, valued at $3,655,836.25. The trade was a 12.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 123,003 shares of company stock worth $6,996,241. Corporate insiders own 8.16% of the company's stock.

Symbotic Stock Performance

NASDAQ:SYM opened at $49.96 on Thursday. The stock has a 50-day simple moving average of $54.14 and a 200-day simple moving average of $59.32. The stock has a market cap of $30.11 billion, a P/E ratio of -999.00, a P/E/G ratio of 6.87 and a beta of 2.03. Symbotic Inc. has a 1 year low of $26.58 and a 1 year high of $87.88.

Symbotic (NASDAQ:SYM - Get Free Report) last released 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 analyst estimates of $662.66 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The company's revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) earnings per share. On average, equities research analysts predict that Symbotic Inc. will post 0.23 EPS for the current year.

Wall Street Analyst Weigh In

SYM has been the subject of a number of research reports. UBS Group set a $70.00 price objective on Symbotic in a research note on Wednesday, February 18th. Barclays lifted their price objective on Symbotic from $42.00 to $44.00 and gave the company an "underweight" rating in a research note on Monday, March 16th. DA Davidson reissued a "buy" rating and set a $70.00 target price on shares of Symbotic in a research note on Monday, May 11th. Weiss Ratings cut Symbotic from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, May 11th. Finally, Wall Street Zen cut Symbotic from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Symbotic presently has a consensus rating of "Hold" and a consensus price target of $65.62.

Symbotic 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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