19,345 Shares in Symbotic Inc. $SYM Purchased by Lighthouse Financial LLC

Lighthouse Financial LLC acquired a new stake in shares of Symbotic Inc. (NASDAQ:SYM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,345 shares of the company’s stock, valued at approximately $814,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Symbotic in the 1st quarter valued at $788,000. Amundi raised its holdings in shares of Symbotic by 68.5% during the 1st quarter. Amundi now owns 108,553 shares of the company’s stock worth $5,775,000 after buying an additional 44,132 shares in the last quarter. Wealthfront Advisers LLC raised its holdings in shares of Symbotic by 168.1% during the 1st quarter. Wealthfront Advisers LLC now owns 71,248 shares of the company’s stock worth $3,790,000 after buying an additional 44,676 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Symbotic by 41.1% during the 1st quarter. Royal Bank of Canada now owns 100,018 shares of the company’s stock worth $5,321,000 after buying an additional 29,152 shares in the last quarter. Finally, Peregrine Asset Advisers Inc. bought a new stake in shares of Symbotic during the 1st quarter worth $2,379,000.

Insiders Place Their Bets

In other Symbotic news, CFO Izilda Martins sold 27,463 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $40.80, for a total value of $1,120,490.40. Following the completion of the transaction, the chief financial officer directly owned 35,171 shares in the company, valued at approximately $1,434,976.80. This trade represents a 43.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $42.72, for a total value of $85,440.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 52,609 shares of company stock worth $2,172,104. Company insiders own 8.16% of the company’s stock.

Symbotic Stock Performance

Shares of NASDAQ:SYM opened at $39.28 on Friday. Symbotic Inc. has a 52-week low of $36.47 and a 52-week high of $87.88. The company has a market capitalization of $23.76 billion, a PE ratio of 436.44, a price-to-earnings-growth ratio of 3.82 and a beta of 1.97. The company has a fifty day moving average of $41.68 and a 200-day moving average of $45.57.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The firm had revenue of $720.84 million for the quarter, compared to analyst estimates of $715.03 million. Symbotic had a net margin of 0.48% and a return on equity of 1.40%. The company’s revenue was up 21.7% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS. On average, equities analysts forecast that Symbotic Inc. will post 0.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SYM shares. Weiss Ratings raised Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, September 21st. Needham & Company LLC decreased their target price on Symbotic from C$75.00 to C$60.00 and set a “buy” rating on the stock in a research report on Tuesday, September 15th. TD Cowen lowered their target price on Symbotic from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday. Barclays dropped their target price on shares of Symbotic from $44.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, September 8th. Finally, Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Symbotic presently has an average rating of “Hold” and an average target price of $65.83.

Symbotic Company Profile

Symbotic Inc is an automation technology company that develops artificial intelligence-enabled robotics and software for supply chain and warehouse operations. Its systems are designed to automate the movement, storage, retrieval and replenishment of pallets and cases within large distribution centers, helping customers manage inventory and fulfill orders more efficiently.

The company’s platform combines mobile robots, automated storage and retrieval systems, robotic palletizing and depalletizing equipment, and warehouse-control software.