Versor Investments LP Buys New Stake in Symbotic Inc. $SYM

Versor Investments LP purchased a new position in shares of Symbotic Inc. (NASDAQ:SYM) in the 3rd quarter, Holdings Channel reports. The firm purchased 10,429 shares of the company’s stock, valued at approximately $562,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. IAG Wealth Partners LLC acquired a new stake in shares of Symbotic during the second quarter valued at $32,000. Gables Capital Management Inc. acquired a new stake in Symbotic during the second quarter worth approximately $39,000. NewEdge Advisors LLC grew its stake in Symbotic by 81.5% in the 2nd quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock worth $50,000 after acquiring an additional 573 shares during the period. KBC Group NV purchased a new stake in Symbotic in the 2nd quarter worth approximately $66,000. Finally, Centerpoint Advisors LLC raised its holdings in Symbotic by 16.7% in the 3rd quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock valued at $75,000 after acquiring an additional 200 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYM. Zacks Research downgraded Symbotic from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Barclays lifted their price target on Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Symbotic in a research note on Thursday, January 22nd. TD Cowen reissued a “buy” rating on shares of Symbotic in a research report on Wednesday, December 3rd. Finally, Oppenheimer restated an “outperform” rating and issued a $83.00 target price on shares of Symbotic in a report on Tuesday, November 25th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $58.07.

Insider Buying and Selling at Symbotic

In other news, CTO James Kuffner sold 77,321 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $59.76, for a total value of $4,620,702.96. Following the completion of the transaction, the chief technology officer directly owned 144,982 shares in the company, valued at approximately $8,664,124.32. This represents a 34.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Svf Sponsor Iii (De) Llc sold 3,500,000 shares of the firm’s stock in a transaction on 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 sale, the insider directly owned 5,590,000 shares of the company’s stock, valued at approximately $297,443,900. The trade was a 38.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 7,145,878 shares of company stock valued at $381,770,290. 8.16% of the stock is owned by company insiders.

Symbotic Price Performance

Shares of NASDAQ SYM opened at $58.40 on Thursday. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $87.88. The company has a market capitalization of $34.54 billion, a price-to-earnings ratio of -583.94, a PEG ratio of 8.36 and a beta of 2.13. The business has a 50-day moving average of $61.58 and a 200-day moving average of $60.52.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.06). The company had revenue of $629.99 million for the quarter, compared to analyst estimates of $622.58 million. Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The business’s revenue was up 29.4% on a year-over-year basis. During the same period last year, the firm posted ($0.03) earnings per share. Research analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

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.