PDT Partners LLC Makes New $1.13 Million Investment in Symbotic Inc. (NASDAQ:SYM)

PDT Partners LLC acquired a new position in Symbotic Inc. (NASDAQ:SYM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 47,540 shares of the company's stock, valued at approximately $1,127,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. IFP Advisors Inc increased its holdings in shares of Symbotic by 58.2% in the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after purchasing an additional 503 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Symbotic in the 4th quarter worth approximately $47,000. Private Trust Co. NA purchased a new stake in shares of Symbotic during the 4th quarter worth approximately $47,000. Jones Financial Companies Lllp boosted its position in shares of Symbotic by 154.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock valued at $58,000 after acquiring an additional 1,490 shares during the last quarter. Finally, MCF Advisors LLC purchased a new position in shares of Symbotic in the fourth quarter valued at $85,000.

Wall Street Analyst Weigh In

SYM has been the subject of several research reports. Citigroup lowered their price objective on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Northland Securities lifted 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. Raymond James downgraded Symbotic from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. UBS Group dropped their target price on Symbotic from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $60.00 target price on shares of Symbotic in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $37.20.

Insider Buying and Selling

In related news, CFO Carol J. Hibbard sold 4,055 shares of Symbotic stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total value of $124,488.50. Following the completion of the sale, the chief financial officer now directly owns 44,386 shares in the company, 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 available at this link. Also, insider William M. Boyd III sold 2,660 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total value of $73,416.00. Following the completion of the transaction, the insider now directly owns 40,812 shares in the company, valued at approximately $1,126,411.20. The trade was a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,721 shares of company stock valued at $1,772,384 over the last 90 days. Corporate insiders own 0.60% of the company's stock.

Symbotic Trading Down 1.4 %

Shares of SYM traded down $0.33 during midday trading on Tuesday, reaching $22.61. 363,710 shares of the stock were exchanged, compared to its average volume of 1,926,484. The company has a market capitalization of $13.30 billion, a P/E ratio of -323.63, a PEG ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $48.98. The company's 50 day moving average is $21.19 and its two-hundred day moving average is $25.85.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported ($0.03) EPS 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%. On average, sell-side analysts expect that Symbotic Inc. will post 0.13 EPS for the current year.

Symbotic 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.