Wealthfront Advisers LLC Acquires Shares of 26,572 Symbotic Inc. $SYM

Key Points

• Wealthfront Advisers LLC opened a new position in Symbotic, buying 26,572 shares in Q4 valued at about $1.58 million.
• Company insiders have been net sellers recently, offloading 157,581 shares worth approximately $9.10 million over the last 90 days (including SVP Brian Alexander's sale of 37,860 shares); insiders now own 8.16% of the stock.
• Analyst sentiment is mixed — Symbotic's consensus rating is a "Hold" with an average price target of $65.62, while individual views range from Needham's $75 buy to Goldman Sachs' $50 sell.

Wealthfront Advisers LLC bought a new position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 26,572 shares of the company's stock, valued at approximately $1,581,000.

Other large investors have also made changes to their positions in the company. MAI Capital Management increased its position in Symbotic by 833.3% in the third quarter. MAI Capital Management now owns 560 shares of the company's stock worth $30,000 after purchasing an additional 500 shares during the period. Ameriflex Group Inc. raised its holdings in Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company's stock worth $38,000 after purchasing an additional 660 shares during the last quarter. Strategic Advocates LLC acquired a new position in Symbotic during the 3rd quarter valued at about $42,000. NewEdge Advisors LLC boosted its stake in shares of Symbotic by 81.5% in the 2nd quarter. NewEdge Advisors LLC now owns 1,276 shares of the company's stock valued at $50,000 after purchasing an additional 573 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Symbotic by 20,000.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,005 shares of the company's stock valued at $54,000 after purchasing an additional 1,000 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC boosted their price target on shares of Symbotic from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, February 5th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $50.00 price objective on shares of Symbotic in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Symbotic in a report on Tuesday, April 21st. Barclays upped their target price on shares of Symbotic from $42.00 to $44.00 and gave the company an "underweight" rating in a research report on Monday, March 16th. Finally, UBS Group set a $70.00 price target on Symbotic in a research report on Wednesday, February 18th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Symbotic presently has an average rating of "Hold" and an average price target of $65.62.

Insider Activity at Symbotic

In other Symbotic news, SVP Brian Daniel Alexander sold 37,860 shares of the firm's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $59.97, for a total transaction of $2,270,464.20. Following the sale, the senior vice president directly owned 44,229 shares in the company, valued at approximately $2,652,413.13. This trade represents a 46.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $53.27, for a total transaction of $106,540.00. Following the completion of the transaction, the director directly owned 10,345 shares in the company, valued at approximately $551,078.15. The trade was a 16.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 157,581 shares of company stock valued at $9,096,637 over the last 90 days. Insiders own 8.16% of the company's stock.

Symbotic Stock Down 0.4%

Shares of SYM stock opened at $58.89 on Friday. Symbotic Inc. has a 12-month low of $21.89 and a 12-month high of $87.88. The firm has a fifty day moving average of $54.62 and a 200-day moving average of $61.00. The firm has a market capitalization of $35.46 billion, a price-to-earnings ratio of -588.84, a price-to-earnings-growth ratio of 5.90 and a beta of 2.03.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.06). Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The business had revenue of $629.99 million for the quarter, compared to the consensus estimate of $622.58 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. The business's revenue was up 29.4% on a year-over-year basis. Research analysts expect that Symbotic Inc. will post 0.33 earnings per share for the current year.

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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