Symbotic Inc. $SYM Shares Bought by Fortis Group Advisors LLC

Fortis Group Advisors LLC grew its position in shares of Symbotic Inc. (NASDAQ:SYM) by 231.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,898 shares of the company’s stock after purchasing an additional 11,801 shares during the quarter. Fortis Group Advisors LLC’s holdings in Symbotic were worth $919,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Leonteq Securities AG acquired a new stake in shares of Symbotic in the fourth quarter worth approximately $282,000. IFP Advisors Inc boosted its position in shares of Symbotic by 26.8% in the fourth quarter. IFP Advisors Inc now owns 1,922 shares of the company’s stock worth $114,000 after acquiring an additional 406 shares during the last quarter. Midwest Professional Planners LTD. boosted its position in shares of Symbotic by 12.5% in the fourth quarter. Midwest Professional Planners LTD. now owns 4,729 shares of the company’s stock worth $281,000 after acquiring an additional 525 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Symbotic in the fourth quarter worth approximately $55,000. Finally, Handelsbanken Fonder AB boosted its position in shares of Symbotic by 54.3% in the fourth quarter. Handelsbanken Fonder AB now owns 423,020 shares of the company’s stock worth $25,170,000 after acquiring an additional 148,842 shares during the last quarter.

Insider Transactions at Symbotic

In other news, CTO James Kuffner sold 19,729 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $59.82, for a total transaction of $1,180,188.78. Following the completion of the transaction, the chief technology officer owned 179,255 shares of the company’s stock, valued at approximately $10,723,034.10. The trade was a 9.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William M. Boyd III sold 9,194 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $58.75, for a total transaction of $540,147.50. Following the transaction, the insider directly owned 62,227 shares of the company’s stock, valued at approximately $3,655,836.25. This trade represents a 12.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 123,003 shares of company stock valued at $6,996,241 over the last quarter. Insiders own 8.16% of the company’s stock.

Analyst Upgrades and Downgrades

SYM has been the topic of several research analyst reports. Citigroup reissued an “outperform” rating on shares of Symbotic in a research report on Thursday, February 5th. Barclays raised their target price on shares of Symbotic from $42.00 to $44.00 and gave the stock an “underweight” rating in a research report on Monday, March 16th. DA Davidson reaffirmed a “buy” rating and set a $70.00 price target on shares of Symbotic in a research report on Monday, May 11th. Northland Securities set a $73.00 price target on shares of Symbotic in a research report on Thursday, February 5th. Finally, Needham & Company LLC lifted their price target on shares of Symbotic from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Symbotic currently has a consensus rating of “Hold” and a consensus target price of $65.62.

Symbotic Price Performance

Symbotic stock opened at $50.95 on Friday. The company has a market cap of $30.71 billion, a PE ratio of -1,018.80, a P/E/G ratio of 7.37 and a beta of 2.03. The company has a fifty day moving average price of $54.16 and a two-hundred day moving average price of $59.11. Symbotic Inc. has a 12 month low of $26.70 and a 12 month high of $87.88.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). The business had revenue of $676.48 million during the quarter, compared to analyst estimates of $662.66 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) EPS. Equities research analysts anticipate that Symbotic Inc. will post 0.23 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.