Alberta Investment Management Corp Buys New Holdings in Symbotic Inc. (NASDAQ:SYM)

Alberta Investment Management Corp bought a new stake in shares of Symbotic Inc. (NASDAQ:SYM) in the 4th quarter, Holdings Channel.com reports. The firm bought 24,700 shares of the company’s stock, valued at approximately $586,000.

Other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. lifted its holdings in Symbotic by 32.0% in the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after buying an additional 3,410,050 shares during the period. Thematics Asset Management lifted its stake in shares of Symbotic by 30.1% in the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock valued at $25,565,000 after purchasing an additional 242,661 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Symbotic by 1,273,060.0% in the 3rd quarter. International Assets Investment Management LLC now owns 63,658 shares of the company’s stock valued at $1,553,000 after purchasing an additional 63,653 shares during the period. Tenzing Global Management LLC purchased a new position in shares of Symbotic in the 3rd quarter valued at approximately $1,524,000. Finally, Robocap Asset Management Ltd purchased a new position in shares of Symbotic in the 4th quarter valued at approximately $1,368,000.

Insider Buying and Selling

In related news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $27.32, for a total transaction of $54,640.00. Following the completion of the transaction, the director now directly owns 194,036 shares of the company’s stock, valued at approximately $5,301,063.52. This represents a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Carol J. Hibbard sold 4,055 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total value of $124,488.50. Following the transaction, the chief financial officer now directly owns 44,386 shares of the company’s stock, valued at approximately $1,362,650.20. The trade was a 8.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,114 shares of company stock worth $3,238,557. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SYM. William Blair restated a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Raymond James cut Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. Oppenheimer initiated coverage on Symbotic in a research report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price objective for the company. TD Cowen lifted their target price on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Citigroup reissued a “buy” rating and issued a $37.00 target price on shares of Symbotic in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $38.33.

Symbotic Trading Down 6.2 %

NASDAQ:SYM opened at $24.47 on Friday. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $50.40. The stock has a 50-day moving average price of $27.22 and a 200 day moving average price of $26.45. The stock has a market capitalization of $14.40 billion, a P/E ratio of -349.52, a P/E/G ratio of 6.48 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. On average, research analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

About Symbotic

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.