Vanguard Group Inc. Has $253.06 Million Position in Symbotic Inc. $SYM

Vanguard Group Inc. raised its position in Symbotic Inc. (NASDAQ:SYM) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,695,021 shares of the company’s stock after buying an additional 98,384 shares during the quarter. Vanguard Group Inc. owned 0.80% of Symbotic worth $253,062,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in shares of Symbotic by 20,000.0% during the third quarter. Fifth Third Bancorp now owns 1,005 shares of the company’s stock worth $54,000 after buying an additional 1,000 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Symbotic by 4.3% during the third quarter. PNC Financial Services Group Inc. now owns 6,627 shares of the company’s stock worth $357,000 after acquiring an additional 273 shares during the period. Advisors Asset Management Inc. raised its stake in Symbotic by 10.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 56,224 shares of the company’s stock worth $3,030,000 after purchasing an additional 5,287 shares in the last quarter. Versor Investments LP bought a new stake in Symbotic in the 3rd quarter valued at about $562,000. Finally, Centerpoint Advisors LLC boosted 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 purchasing an additional 200 shares during the period.

Symbotic Stock Performance

Shares of SYM stock opened at $54.78 on Friday. The stock’s fifty day moving average price is $60.34 and its two-hundred day moving average price is $60.56. The company has a market cap of $32.99 billion, a PE ratio of -547.75, a P/E/G ratio of 5.49 and a beta of 2.13. Symbotic Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $87.88.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.06). Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The business had revenue of $629.99 million for the quarter, compared to the consensus estimate of $622.58 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. Symbotic’s quarterly revenue was up 29.4% compared to the same quarter last year. On average, equities analysts predict that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SYM. Northcoast Research cut shares of Symbotic from a “buy” rating to a “neutral” rating in a report on Tuesday, November 25th. DA Davidson raised their price objective on Symbotic from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on Symbotic from $55.00 to $63.00 and gave the company a “hold” rating in a report on Tuesday, November 25th. Cantor Fitzgerald increased their target price on Symbotic from $60.00 to $82.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Symbotic in a research report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Symbotic has a consensus rating of “Hold” and a consensus price target of $60.57.

Insider Activity at Symbotic

In related news, insider Maria G. Freve sold 8,306 shares of the stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $55.11, for a total value of $457,743.66. Following the completion of the transaction, the insider owned 539 shares of the company’s stock, valued at $29,704.29. This represents a 93.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rollin L. Ford sold 60,000 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $57.51, for a total transaction of $3,450,600.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,190,533 shares of company stock worth $383,891,335 in the last ninety days. Insiders own 8.16% of the company’s stock.

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.