Slow Capital Inc. Invests $5.79 Million in Symbotic Inc. $SYM

Slow Capital Inc. acquired a new position in Symbotic Inc. (NASDAQ:SYM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 107,502 shares of the company’s stock, valued at approximately $5,794,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ARK Investment Management LLC raised its position in Symbotic by 13.3% in the second quarter. ARK Investment Management LLC now owns 445,498 shares of the company’s stock worth $17,308,000 after acquiring an additional 52,205 shares during the period. PFG Investments LLC purchased a new stake in shares of Symbotic in the 2nd quarter worth $255,000. Hunter Associates Investment Management LLC bought a new position in Symbotic in the 2nd quarter worth $361,000. Barton Investment Management purchased a new position in Symbotic during the third quarter valued at $1,640,000. Finally, Prospera Financial Services Inc purchased a new position in Symbotic during the second quarter valued at $861,000.

Symbotic Price Performance

NASDAQ:SYM opened at $67.41 on Tuesday. The firm has a market capitalization of $39.87 billion, a price-to-earnings ratio of -449.40, a PEG ratio of 19.12 and a beta of 2.13. The business has a 50 day simple moving average of $64.39 and a 200-day simple moving average of $59.57. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $87.88.

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

Insider Buying and Selling at Symbotic

In related news, major shareholder Svf Sponsor Iii (De) Llc sold 3,500,000 shares of the company’s 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 transaction, the insider directly owned 5,590,000 shares in the company, valued at approximately $297,443,900. This represents a 38.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Group Corp. Softbank sold 3,500,000 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $53.21, for a total transaction of $186,235,000.00. Following the completion of the sale, the insider directly owned 5,590,000 shares in the company, valued at $297,443,900. This trade represents a 38.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 7,066,463 shares of company stock valued at $377,427,267. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SYM. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Cowen reissued a “buy” rating on shares of Symbotic in a report on Wednesday, December 3rd. Robert W. Baird lifted their price target on shares of Symbotic from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a research note on Tuesday, November 25th. Finally, UBS Group restated a “sell” rating and set a $35.00 target price (up previously from $27.00) on shares of Symbotic in a research note on Tuesday, September 23rd. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.79.

About Symbotic

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.