Natixis Takes $828,000 Position in Symbotic Inc. (NASDAQ:SYM)

Natixis acquired a new stake 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 acquired 34,906 shares of the company's stock, valued at approximately $828,000.

Several other large investors have also recently bought and sold shares of SYM. State Street Corp increased its holdings in shares of Symbotic by 2.6% in the third quarter. State Street Corp now owns 319,235 shares of the company's stock worth $7,786,000 after acquiring an additional 7,990 shares in the last quarter. Barclays PLC grew its position in shares of Symbotic by 1,105.9% in the 3rd quarter. Barclays PLC now owns 9,346 shares of the company's stock valued at $228,000 after purchasing an additional 8,571 shares during the period. Geode Capital Management LLC increased its stake in Symbotic by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company's stock worth $12,290,000 after purchasing an additional 46,721 shares in the last quarter. 1ST Source Bank acquired a new stake in Symbotic during the 3rd quarter worth approximately $488,000. Finally, Capital Market Strategies LLC bought a new position in Symbotic in the fourth quarter valued at approximately $802,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SYM. DA Davidson raised shares of Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a research report on Wednesday, January 8th. Raymond James cut Symbotic from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. Oppenheimer began coverage on Symbotic in a research note on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 price target on the stock. The Goldman Sachs Group reduced their price objective on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Needham & Company LLC cut their target price on Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $37.20.

Insider Buying and Selling

In other Symbotic news, Director Rollin L. Ford sold 28,740 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.02, for a total value of $747,814.80. Following the transaction, the director now directly owns 10,447 shares of the company's stock, valued at $271,830.94. This represents a 73.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Carol J. Hibbard sold 4,055 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total value of $124,488.50. Following the sale, the chief financial officer now owns 44,386 shares of the company's stock, valued at approximately $1,362,650.20. This represents a 8.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,957 shares of company stock valued at $1,573,931. 0.60% of the stock is owned by insiders.

Symbotic Trading Down 0.1 %

Shares of SYM traded down $0.03 during midday trading on Tuesday, reaching $21.97. The stock had a trading volume of 205,667 shares, compared to its average volume of 1,927,109. The firm has a market cap of $12.93 billion, a PE ratio of -313.26, a P/E/G ratio of 6.48 and a beta of 1.86. The firm has a 50 day simple moving average of $21.40 and a 200-day simple moving average of $26.08. Symbotic Inc. has a one year low of $16.32 and a one year high of $48.98.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. As a group, research analysts forecast 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.