Symbotic Inc. $SYM Shares Acquired by Sei Investments Co.

Sei Investments Co. lifted its position in shares of Symbotic Inc. (NASDAQ:SYM) by 21.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,420 shares of the company’s stock after purchasing an additional 25,024 shares during the period. Sei Investments Co.’s holdings in Symbotic were worth $7,683,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Symbotic by 47.6% in the fourth quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock valued at $412,463,000 after purchasing an additional 2,237,137 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in Symbotic by 54.3% during the fourth quarter. Handelsbanken Fonder AB now owns 423,020 shares of the company’s stock worth $25,170,000 after purchasing an additional 148,842 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of Symbotic by 1,108.8% in the 4th quarter. M&T Bank Corp now owns 330,882 shares of the company’s stock valued at $19,687,000 after buying an additional 303,510 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in shares of Symbotic in the 4th quarter valued at $1,581,000. Finally, Seven Grand Managers LLC purchased a new position in shares of Symbotic in the 4th quarter valued at $4,462,000.

Symbotic Price Performance

SYM stock opened at $43.05 on Monday. The company has a market cap of $25.95 billion, a price-to-earnings ratio of -860.83, a price-to-earnings-growth ratio of 6.35 and a beta of 1.94. The company has a fifty day moving average price of $43.43 and a 200 day moving average price of $51.36. Symbotic Inc. has a 12 month low of $38.19 and a 12 month high of $87.88.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on SYM. DA Davidson reiterated a “buy” rating and set a $70.00 price target on shares of Symbotic in a research note on Monday, May 11th. Zacks Research downgraded shares of Symbotic from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Weiss Ratings lowered Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, The Goldman Sachs Group cut their target price on Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a research report on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $66.50.

Insiders Place Their Bets

In related news, SVP Brian Daniel Alexander sold 9,130 shares of Symbotic stock in a transaction on Friday, July 24th. The shares were sold at an average price of $40.30, for a total value of $367,939.00. Following the transaction, the senior vice president directly owned 55,611 shares in the company, valued at $2,241,123.30. This trade represents a 14.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Maria G. Freve sold 2,244 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $40.28, for a total transaction of $90,388.32. Following the transaction, the insider owned 3,096 shares of the company’s stock, valued at approximately $124,706.88. The trade was a 42.02% 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. In the last 90 days, insiders have sold 111,970 shares of company stock valued at $5,329,876. 8.16% of the stock is owned by company insiders.

Symbotic Company 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.