Slow Capital Inc. Takes Position in Symbotic Inc. $SYM

Slow Capital Inc. bought a new position in Symbotic Inc. (NASDAQ:SYM) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 107,502 shares of the company’s stock, valued at approximately $5,794,000.

Several other large investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Symbotic in the 3rd quarter valued at $34,296,000. Y Intercept Hong Kong Ltd bought a new stake in Symbotic in the second quarter worth $5,504,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna purchased a new stake in Symbotic during the second quarter valued at about $4,720,000. Invesco Ltd. grew its stake in shares of Symbotic by 33.2% during the second quarter. Invesco Ltd. now owns 304,207 shares of the company’s stock valued at $11,818,000 after buying an additional 75,828 shares during the last quarter. Finally, DDD Partners LLC grew its stake in shares of Symbotic by 139.4% during the second quarter. DDD Partners LLC now owns 115,079 shares of the company’s stock valued at $4,471,000 after buying an additional 67,006 shares during the last quarter.

Insiders Place Their Bets

In other Symbotic news, Director Merline Saintil sold 9,000 shares of Symbotic stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $84.72, for a total transaction of $762,480.00. Following the sale, the director directly owned 68,413 shares of the company’s stock, valued at approximately $5,795,949.36. The trade was a 11.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Group Corp. Softbank sold 3,500,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $53.21, for a total value of $186,235,000.00. Following the completion of the transaction, the insider directly owned 5,590,000 shares of the company’s stock, valued at $297,443,900. This represents a 38.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,066,463 shares of company stock valued at $377,427,267 over the last ninety days. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on SYM. Citigroup increased their target price on Symbotic from $60.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Cowen reiterated a “buy” rating on shares of Symbotic in a research report on Wednesday, December 3rd. Needham & Company LLC increased their price objective on Symbotic from $57.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. DA Davidson restated a “neutral” rating and issued a $47.00 target price on shares of Symbotic in a report on Tuesday, November 25th. Finally, Northland Securities upped their price target on shares of Symbotic from $56.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $56.79.

Symbotic Stock Up 0.5%

Shares of Symbotic stock opened at $67.41 on Tuesday. The business has a 50 day moving average of $64.39 and a 200 day moving average of $59.57. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $87.88. The company has a market cap of $39.87 billion, a PE ratio of -449.40, a P/E/G ratio of 19.12 and a beta of 2.13.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The company had revenue of $618.46 million for the quarter, compared to analysts’ expectations of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. On average, research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share 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.