Green Alpha Advisors LLC Buys New Shares in Symbotic Inc. $SYM

Green Alpha Advisors LLC bought a new position in shares of Symbotic Inc. (NASDAQ:SYM) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,334 shares of the company’s stock, valued at approximately $557,000.

Other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Symbotic by 16.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,343,902 shares of the company’s stock worth $27,155,000 after buying an additional 187,538 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Symbotic by 12.1% in the first quarter. Raymond James Financial Inc. now owns 980,922 shares of the company’s stock worth $19,824,000 after acquiring an additional 105,616 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Symbotic by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 551,216 shares of the company’s stock valued at $21,419,000 after purchasing an additional 4,892 shares during the last quarter. Amanah Holdings Trust acquired a new stake in shares of Symbotic in the 2nd quarter valued at $19,824,000. Finally, S Squared Technology LLC lifted its position in shares of Symbotic by 6.7% during the 1st quarter. S Squared Technology LLC now owns 480,000 shares of the company’s stock worth $9,701,000 after purchasing an additional 30,000 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SYM shares. The Goldman Sachs Group cut Symbotic from a “neutral” rating to a “sell” rating and set a $47.00 price objective for the company. in a research report on Tuesday, December 2nd. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. Barclays boosted their price target on shares of Symbotic from $38.00 to $41.00 and gave the company an “underweight” rating in a research report on Wednesday, November 26th. Citigroup lifted their target price on Symbotic from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Finally, Needham & Company LLC boosted their target price on Symbotic from $57.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Symbotic has an average rating of “Hold” and an average target price of $56.50.

Symbotic Trading Down 0.8%

Shares of SYM stock opened at $58.84 on Wednesday. The company has a market capitalization of $34.81 billion, a P/E ratio of -392.27, a price-to-earnings-growth ratio of 16.83 and a beta of 2.10. The business’s 50 day moving average is $67.06 and its two-hundred day moving average is $55.44. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $87.88.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, November 24th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Symbotic had a negative return on equity of 3.89% and a negative net margin of 0.75%.The firm had revenue of $618.46 million for the quarter, compared to analysts’ expectations of $604.00 million. During the same quarter in the previous year, the company posted $0.47 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Activity at Symbotic

In other news, insider William M. Boyd III sold 2,455 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $60.51, for a total transaction of $148,552.05. Following the transaction, the insider directly owned 24,314 shares of the company’s stock, valued at $1,471,240.14. This represents a 9.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Svf Sponsor Iii (De) Llc sold 3,500,000 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $53.21, for a total transaction of $186,235,000.00. Following the completion of the transaction, the insider owned 5,590,000 shares of the company’s stock, valued at $297,443,900. This represents a 38.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 7,085,508 shares of company stock worth $378,798,933. 0.60% of the stock is currently owned by insiders.

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.