Fund Advisors of America Inc FL Takes Position in Symbotic Inc. $SYM

Fund Advisors of America Inc FL acquired a new stake in shares of Symbotic Inc. (NASDAQ:SYM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 23,152 shares of the company’s stock, valued at approximately $1,378,000. Symbotic comprises about 1.3% of Fund Advisors of America Inc FL’s holdings, making the stock its 23rd largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV boosted its stake in Symbotic by 32.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,435 shares of the company’s stock valued at $502,000 after acquiring an additional 2,056 shares during the period. NewEdge Advisors LLC raised its position in shares of Symbotic by 278.4% during the 4th quarter. NewEdge Advisors LLC now owns 9,711 shares of the company’s stock worth $578,000 after purchasing an additional 7,145 shares during the period. Twinbeech Capital LP acquired a new stake in shares of Symbotic during the 4th quarter worth approximately $1,515,000. Polymer Capital Management US LLC bought a new stake in shares of Symbotic in the 4th quarter worth approximately $279,000. Finally, Readystate Asset Management LP bought a new stake in shares of Symbotic in the 4th quarter worth approximately $470,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SYM shares. Wall Street Zen cut Symbotic from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. The Goldman Sachs Group dropped their price target on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a research report on Tuesday, May 26th. Barclays upped their price target on shares of Symbotic from $42.00 to $44.00 and gave the company an “underweight” rating in a report on Monday, March 16th. Weiss Ratings cut shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, DA Davidson reiterated a “buy” rating and issued a $70.00 target price on shares of Symbotic in a report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $65.23.

Insider Buying and Selling at Symbotic

In other news, insider Maria G. Freve sold 2,335 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $60.08, for a total transaction of $140,286.80. Following the completion of the transaction, the insider owned 3,004 shares of the company’s stock, valued at approximately $180,480.32. This represents a 43.73% decrease in their ownership of the stock. The sale was disclosed in a 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, CTO James Kuffner sold 19,729 shares of the company’s stock in a transaction dated 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 trade represents a 9.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 144,431 shares of company stock valued at $8,141,204 in the last three months. Company insiders own 8.16% of the company’s stock.

Symbotic Price Performance

Shares of SYM stock opened at $41.68 on Friday. Symbotic Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $87.88. The stock’s 50-day moving average is $51.69 and its two-hundred day moving average is $55.95. The firm has a market cap of $25.12 billion, a P/E ratio of -833.43, a PEG ratio of 6.15 and a beta of 1.91.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.11). The firm had revenue of $676.48 million for the quarter, compared to analyst estimates of $662.65 million. Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. As a group, research analysts expect that Symbotic Inc. will post 0.23 EPS for the current 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.