Symbotic Inc. $SYM Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its stake in shares of Symbotic Inc. (NASDAQ:SYM) by 168.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 71,248 shares of the company’s stock after acquiring an additional 44,676 shares during the period. Wealthfront Advisers LLC’s holdings in Symbotic were worth $3,790,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Federation des caisses Desjardins du Quebec boosted its stake in shares of Symbotic by 5.2% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,493 shares of the company’s stock worth $267,000 after buying an additional 224 shares during the last quarter. Barton Investment Management raised its position in Symbotic by 0.8% during the fourth quarter. Barton Investment Management now owns 30,658 shares of the company’s stock valued at $1,824,000 after acquiring an additional 233 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Symbotic by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,375 shares of the company’s stock valued at $677,000 after acquiring an additional 236 shares during the period. Parallel Advisors LLC lifted its holdings in Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after acquiring an additional 249 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in Symbotic by 4.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,753 shares of the company’s stock worth $342,000 after purchasing an additional 266 shares in the last quarter.

Symbotic Stock Performance

NASDAQ SYM opened at $41.25 on Monday. The stock has a market capitalization of $24.86 billion, a price-to-earnings ratio of -824.84, a PEG ratio of 6.08 and a beta of 1.93. The stock has a 50-day moving average of $45.07 and a 200 day moving average of $53.12. Symbotic Inc. has a twelve month low of $38.19 and a twelve month high of $87.88.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYM. DA Davidson reaffirmed a “buy” rating and set a $70.00 price objective on shares of Symbotic in a research note on Monday, May 11th. The Goldman Sachs Group decreased their target price on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a research note on Tuesday, May 26th. Zacks Research downgraded shares of Symbotic from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings lowered shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Symbotic has an average rating of “Hold” and a consensus target price of $65.23.

Insider Buying and Selling at Symbotic

In related news, insider William M. Boyd III sold 9,194 shares of Symbotic stock in a transaction on Monday, April 27th. The shares were sold at an average price of $58.75, for a total value of $540,147.50. Following the sale, the insider 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Maria G. Freve sold 2,335 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $60.08, for a total transaction of $140,286.80. Following the completion of the sale, the insider directly owned 3,004 shares of the company’s stock, valued at approximately $180,480.32. The trade was a 43.73% 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 quarter, insiders sold 147,798 shares of company stock worth $8,221,095. 8.16% of the stock is currently owned by corporate insiders.

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.