Nordwand Advisors LLC Makes New Investment in Symbotic Inc. $SYM

Nordwand Advisors LLC purchased a new position in shares of Symbotic Inc. (NASDAQ:SYM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,435 shares of the company’s stock, valued at approximately $799,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. MAI Capital Management lifted its stake in shares of Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares during the last quarter. Ameriflex Group Inc. lifted its stake in shares of Symbotic by 1,500.0% in the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock valued at $38,000 after acquiring an additional 660 shares during the last quarter. Strategic Advocates LLC bought a new stake in shares of Symbotic in the 3rd quarter valued at about $42,000. NewEdge Advisors LLC lifted its stake in shares of Symbotic by 81.5% in the 2nd quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock valued at $50,000 after acquiring an additional 573 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Symbotic by 20,000.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,005 shares of the company’s stock valued at $54,000 after acquiring an additional 1,000 shares during the last quarter.

Insider Buying and Selling at Symbotic

In other Symbotic news, CTO James Kuffner sold 19,729 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $59.82, for a total transaction of $1,180,188.78. Following the transaction, the chief technology officer owned 179,255 shares in the company, valued at approximately $10,723,034.10. This represents a 9.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William M. Boyd III sold 9,194 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $58.75, for a total value of $540,147.50. Following the completion of the transaction, the insider directly owned 62,227 shares of the company’s stock, valued at $3,655,836.25. This represents a 12.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 153,581 shares of company stock worth $8,881,717 over the last three months. 8.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SYM shares. Barclays boosted their target price on Symbotic from $42.00 to $44.00 and gave the company an “underweight” rating in a research note on Monday, March 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Symbotic in a research note on Tuesday, April 21st. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and boosted their target price for the company from $57.00 to $70.00 in a research note on Wednesday, April 15th. UBS Group set a $70.00 target price on Symbotic in a research note on Wednesday, February 18th. Finally, Wall Street Zen lowered Symbotic from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $65.62.

Symbotic Price Performance

SYM opened at $57.00 on Tuesday. The business has a 50 day simple moving average of $54.62 and a two-hundred day simple moving average of $60.92. The firm has a market capitalization of $34.32 billion, a price-to-earnings ratio of -569.94, a PEG ratio of 5.90 and a beta of 2.03. Symbotic Inc. has a one year low of $21.89 and a one year high of $87.88.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). The business had revenue of $629.99 million for the quarter, compared to the consensus estimate of $622.58 million. Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The company’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.03) EPS. As a group, sell-side analysts expect that Symbotic Inc. will post 0.33 EPS for the current fiscal year.

Symbotic 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.