XTX Topco Ltd Makes New $324,000 Investment in Symbotic Inc. (NASDAQ:SYM)

Key Points

• XTX Topco Ltd has acquired 16,010 shares of Symbotic Inc., valued at approximately $324,000, during the first quarter of 2023.
• Other institutional investors, including Mirae Asset Global Investments and ARK Investment Management, have also increased their stakes in Symbotic, indicating growing interest in the company.
• Symbotic reported a quarterly revenue of $592.12 million, surpassing estimates, but missed earnings expectations with an EPS of ($0.05).

XTX Topco Ltd purchased a new position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,010 shares of the company's stock, valued at approximately $324,000.

A number of other large investors have also recently bought and sold shares of the business. LPL Financial LLC lifted its stake in shares of Symbotic by 31.5% in the fourth quarter. LPL Financial LLC now owns 43,167 shares of the company's stock valued at $1,023,000 after purchasing an additional 10,341 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Symbotic by 100.6% in the fourth quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company's stock valued at $411,000 after purchasing an additional 3,110,075 shares during the period. Geode Capital Management LLC lifted its stake in shares of Symbotic by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 505,114 shares of the company's stock valued at $11,981,000 after purchasing an additional 1,356 shares during the period. Invesco Ltd. lifted its stake in shares of Symbotic by 25.9% in the fourth quarter. Invesco Ltd. now owns 727,890 shares of the company's stock valued at $17,258,000 after purchasing an additional 149,918 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Symbotic in the fourth quarter valued at about $20,754,000.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SYM. Baird R W downgraded shares of Symbotic from a "strong-buy" rating to a "hold" rating in a report on Thursday. Citigroup reissued a "buy" rating on shares of Symbotic in a research report on Monday, July 14th. Robert W. Baird cut shares of Symbotic from an "outperform" rating to a "neutral" rating and set a $55.00 price target on the stock. in a research report on Thursday. Oppenheimer lifted their price target on shares of Symbotic from $54.00 to $59.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Needham & Company LLC boosted their target price on shares of Symbotic from $32.00 to $57.00 and gave the stock a "buy" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $42.69.

Insiders Place Their Bets

In other Symbotic news, Director Daniela L. Rus sold 11,705 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $59.00, for a total transaction of $690,595.00. Following the sale, the director owned 11,024 shares in the company, valued at approximately $650,416. The trade was a 51.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Carol J. Hibbard sold 6,293 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $55.42, for a total value of $348,758.06. Following the sale, the chief financial officer owned 61,971 shares in the company, valued at approximately $3,434,432.82. The trade was a 9.22% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,241 shares of company stock valued at $5,756,164. Corporate insiders own 0.60% of the company's stock.

Symbotic Stock Down 7.9%

SYM stock traded down $4.37 during trading on Monday, hitting $51.24. 3,015,477 shares of the company's stock traded hands, compared to its average volume of 2,000,841. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $64.16. The stock has a fifty day moving average price of $43.13 and a two-hundred day moving average price of $30.76. The stock has a market capitalization of $30.21 billion, a price-to-earnings ratio of -731.90, a price-to-earnings-growth ratio of 57.93 and a beta of 2.06.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.05) earnings per share (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 firm had revenue of $592.12 million for the quarter, compared to analyst estimates of $533.55 million. During the same period last year, the firm posted ($0.02) EPS. The business's revenue was up 25.9% compared to the same quarter last year. As a group, equities research analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

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.