Symbotic Inc. $SYM Shares Sold by Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna

Key Points

• Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna reduced its Symbotic stake by 43.5% in the fourth quarter, selling 34,050 shares and leaving it with 44,175 shares worth about $2.63 million.
• Symbotic reported mixed quarterly results, posting EPS of $0.01 versus the expected $0.12, but revenue of $676.48 million topped estimates and rose 23.1% year over year.
• Analyst sentiment remains cautious, with a consensus rating of Hold and an average price target of $65.23, while recent insider sales by directors Charles Kane and Todd Krasnow added to the selling activity.

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna cut its stake in Symbotic Inc. (NASDAQ:SYM - Free Report) by 43.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,175 shares of the company's stock after selling 34,050 shares during the quarter. Symbotic makes up approximately 1.0% of Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna's investment portfolio, making the stock its 25th largest position. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna's holdings in Symbotic were worth $2,628,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. MAI Capital Management lifted its holdings in Symbotic by 833.3% in the third quarter. MAI Capital Management now owns 560 shares of the company's stock valued at $30,000 after acquiring an additional 500 shares during the period. Parallel Advisors LLC lifted its holdings in Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company's stock valued at $37,000 after acquiring an additional 249 shares during the period. Ameriflex Group Inc. lifted its holdings in Symbotic by 1,500.0% in the third quarter. Ameriflex Group Inc. now owns 704 shares of the company's stock valued at $38,000 after acquiring an additional 660 shares during the period. Strategic Advocates LLC acquired a new position in Symbotic in the third quarter valued at approximately $42,000. Finally, NewEdge Advisors LLC lifted its holdings in Symbotic by 81.5% in the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company's stock valued at $50,000 after acquiring an additional 573 shares during the period.

Symbotic Stock Performance

Shares of SYM opened at $44.02 on Friday. Symbotic Inc. has a one year low of $27.26 and a one year high of $87.88. The stock has a market capitalization of $26.53 billion, a price-to-earnings ratio of -880.22, a PEG ratio of 6.49 and a beta of 1.91. The stock has a 50 day moving average price of $53.78 and a 200 day moving average price of $57.67.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.11). Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The firm had revenue of $676.48 million for the quarter, compared to analysts' expectations of $662.66 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. The firm's revenue for the quarter was up 23.1% compared to the same quarter last year. On average, analysts predict that Symbotic Inc. will post 0.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SYM. Zacks Research raised Symbotic from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 18th. The Goldman Sachs Group decreased their price target on Symbotic from $54.00 to $45.00 and set a "sell" rating for the company in a report on Tuesday, May 26th. Barclays boosted their price objective on Symbotic from $42.00 to $44.00 and gave the company an "underweight" rating in a research report on Monday, March 16th. Wall Street Zen cut Symbotic from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, Weiss Ratings cut Symbotic from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $65.23.

Insider Activity

In related news, Director Charles Kane sold 2,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $45.99, for a total transaction of $91,980.00. Following the completion of the sale, the director directly owned 89,852 shares in the company, valued at approximately $4,132,293.48. The trade was a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd Krasnow sold 2,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $47.30, for a total value of $94,600.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 153,845 shares of company stock valued at $8,601,544 in the last three months. Company insiders own 8.16% of the company's stock.

Symbotic Company 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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