Hood River Capital Management LLC bought a new position in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 240,571 shares of the company's stock, valued at approximately $5,704,000.
Several other institutional investors also recently bought and sold shares of SYM. Vanguard Group Inc. boosted its holdings in Symbotic by 41.3% in the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock valued at $117,846,000 after purchasing an additional 1,452,627 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Symbotic during the fourth quarter valued at approximately $20,754,000. Invesco Ltd. raised its position in Symbotic by 25.9% during the fourth quarter. Invesco Ltd. now owns 727,890 shares of the company's stock valued at $17,258,000 after acquiring an additional 149,918 shares in the last quarter. TCW Group Inc. raised its position in Symbotic by 51.7% during the fourth quarter. TCW Group Inc. now owns 582,955 shares of the company's stock valued at $13,822,000 after acquiring an additional 198,681 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Symbotic by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 505,114 shares of the company's stock valued at $11,981,000 after acquiring an additional 1,356 shares in the last quarter.
Analyst Ratings Changes
Several analysts have commented on SYM shares. DA Davidson raised Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 price objective on the stock in a report on Wednesday, January 8th. Citigroup dropped their price target on Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Needham & Company LLC dropped their price target on Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Northland Securities boosted their price target on Symbotic from $35.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, January 17th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 price target on shares of Symbotic in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $37.20.
Check Out Our Latest Stock Analysis on SYM
Insiders Place Their Bets
In other Symbotic news, CFO Carol J. Hibbard sold 4,055 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total transaction of $124,488.50. Following the sale, the chief financial officer now directly owns 44,386 shares of the company's stock, valued at $1,362,650.20. This trade represents a 8.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael David Dunn sold 1,971 shares of Symbotic stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $30.00, for a total transaction of $59,130.00. Following the completion of the transaction, the insider now owns 22,301 shares in the company, valued at approximately $669,030. This trade represents a 8.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,957 shares of company stock worth $1,573,931. Corporate insiders own 0.60% of the company's stock.
Symbotic Price Performance
Shares of SYM traded up $0.07 during mid-day trading on Tuesday, reaching $22.07. 243,709 shares of the company's stock were exchanged, compared to its average volume of 1,927,241. The stock has a market capitalization of $12.98 billion, a PE ratio of -314.96, a price-to-earnings-growth ratio of 6.48 and a beta of 1.86. The business's fifty day simple moving average is $21.40 and its 200-day simple moving average is $26.08. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $48.98.
Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. Equities research analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.
Symbotic Company Profile
(
Free Report)
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.
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