Vontobel Holding Ltd. Takes $225,000 Position in Symbotic Inc. $SYM

Key Points

• Vontobel Holding Ltd. has acquired a new position in Symbotic Inc., purchasing 5,800 shares valued at approximately $225,000.
• Symbotic reported a quarterly revenue of $592.12 million, surpassing analysts' expectations of $533.55 million, despite posting a loss of ($0.05) earnings per share.
• Several institutional investors have increased their stakes in Symbotic, with notable increases from GAMMA Investing LLC and CWM LLC, indicating growing interest in the stock.

Vontobel Holding Ltd. bought a new position in Symbotic Inc. (NASDAQ:SYM - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 5,800 shares of the company's stock, valued at approximately $225,000.

Other institutional investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc bought a new position in shares of Symbotic in the second quarter worth $32,000. GAMMA Investing LLC grew its position in Symbotic by 1,812.2% during the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock worth $29,000 after buying an additional 1,341 shares in the last quarter. Farther Finance Advisors LLC grew its position in Symbotic by 24.0% during the second quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company's stock worth $69,000 after buying an additional 342 shares in the last quarter. 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 valued at $53,000 after acquiring an additional 2,090 shares during the last quarter. Finally, 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 valued at $57,000 after acquiring an additional 2,131 shares during the last quarter.

Symbotic Price Performance

NASDAQ SYM opened at $75.36 on Thursday. The stock has a market capitalization of $44.50 billion, a PE ratio of -1,076.42, a PEG ratio of 14.27 and a beta of 2.06. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $79.58. The business's 50-day moving average is $53.92 and its 200 day moving average is $40.26.

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

Analyst Upgrades and Downgrades

SYM has been the topic of a number of recent analyst reports. Arete downgraded shares of Symbotic from a "buy" rating to a "neutral" rating and set a $50.00 target price on the stock. in a research note on Friday, July 25th. Baird R W lowered shares of Symbotic from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Barclays assumed coverage on shares of Symbotic in a research report on Tuesday, October 7th. They issued an "underweight" rating and a $38.00 target price for the company. Needham & Company LLC increased their price target on shares of Symbotic from $32.00 to $57.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, UBS Group reiterated a "sell" rating and set a $35.00 price target (up from $27.00) on shares of Symbotic in a research report on Tuesday, September 23rd. Seven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $44.61.

Insider Activity at Symbotic

In related 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 value of $4,641,300.00. Following the transaction, the director owned 14,507 shares in the company, valued at $748,125.99. The trade was a 86.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Millennium Gst Non-Exempt Rbc sold 220,000 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $46.45, for a total transaction of $10,219,000.00. The disclosure for this sale can be found here. Insiders have sold 474,666 shares of company stock valued at $23,978,967 over the last three months. Corporate 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.

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.