USS Investment Management Ltd Takes $15 Million Position in Symbotic Inc. $SYM

USS Investment Management Ltd acquired a new stake in shares of Symbotic Inc. (NASDAQ:SYM) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 281,981 shares of the company’s stock, valued at approximately $15,004,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYM. Parkside Financial Bank & Trust lifted its stake in Symbotic by 100.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after purchasing an additional 268 shares in the last quarter. MAI Capital Management grew its position in shares of Symbotic by 833.3% during the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after purchasing an additional 500 shares in the last quarter. Quarry LP purchased a new position in shares of Symbotic during the 4th quarter valued at $36,000. Parallel Advisors LLC increased its holdings in shares of Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after purchasing an additional 249 shares during the period. Finally, Ameriflex Group Inc. increased its holdings in shares of Symbotic by 1,500.0% in the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after purchasing an additional 660 shares during the period.

Analysts Set New Price Targets

SYM has been the topic of a number of recent analyst reports. Barclays increased their price objective on Symbotic from $42.00 to $44.00 and gave the stock an “underweight” rating in a research report on Monday, March 16th. Weiss Ratings lowered Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. DA Davidson reaffirmed a “buy” rating and issued a $70.00 price target on shares of Symbotic in a report on Monday, May 11th. Finally, The Goldman Sachs Group dropped their price target on Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a research report on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $65.23.

Insider Buying and Selling at Symbotic

In other news, Director Todd Krasnow sold 25,422 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $52.45, for a total value of $1,333,383.90. Following the completion of the sale, the director directly owned 182,036 shares in the company, valued at approximately $9,547,788.20. The trade was a 12.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Brian Daniel Alexander sold 37,860 shares of the company’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $59.97, for a total transaction of $2,270,464.20. Following the completion of the sale, the senior vice president directly owned 44,229 shares of the company’s stock, valued at $2,652,413.13. This trade represents a 46.12% 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. Over the last three months, insiders sold 137,316 shares of company stock valued at $7,747,335. 8.16% of the stock is currently owned by corporate insiders.

Symbotic Trading Up 0.0%

SYM opened at $44.96 on Thursday. The stock has a 50-day moving average price of $49.01 and a 200-day moving average price of $54.52. Symbotic Inc. has a 12-month low of $38.19 and a 12-month high of $87.88. The stock has a market capitalization of $27.10 billion, a P/E ratio of -899.02, a PEG ratio of 6.63 and a beta of 1.93.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). The firm had revenue of $676.48 million for the quarter, compared to analysts’ expectations of $662.65 million. Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) earnings per share. On average, equities research analysts predict that Symbotic Inc. will post 0.23 EPS for the current year.

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.