3,564 Shares in Symbotic Inc. (NASDAQ:SYM) Acquired by MCF Advisors LLC

MCF Advisors LLC acquired a new position in shares of Symbotic Inc. (NASDAQ:SYM) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,564 shares of the company’s stock, valued at approximately $85,000.

A number of other institutional investors also recently bought and sold shares of SYM. Baillie Gifford & Co. raised its stake in shares of Symbotic by 32.0% during 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 last quarter. Exchange Traded Concepts LLC increased its holdings in Symbotic by 76.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock valued at $21,317,000 after acquiring an additional 379,726 shares in the last quarter. Millennium Management LLC raised its position in Symbotic by 6,694.5% during the second quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock worth $11,801,000 after acquiring an additional 330,709 shares during the last quarter. Thematics Asset Management lifted its holdings in shares of Symbotic by 30.1% in the third 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 in the last quarter. Finally, Ensign Peak Advisors Inc grew its position in shares of Symbotic by 3,622.4% in the second quarter. Ensign Peak Advisors Inc now owns 193,678 shares of the company’s stock valued at $6,810,000 after purchasing an additional 188,475 shares during the last quarter.

Symbotic Price Performance

NASDAQ SYM opened at $33.29 on Thursday. Symbotic Inc. has a 1-year low of $17.11 and a 1-year high of $52.20. The firm has a market capitalization of $19.56 billion, a P/E ratio of -554.83, a P/E/G ratio of 6.88 and a beta of 1.76. The business’s 50-day simple moving average is $27.84 and its 200-day simple moving average is $27.38.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The firm had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $470.24 million. During the same period in the previous year, the company posted ($0.08) earnings per share. Symbotic’s revenue was up 47.2% compared to the same quarter last year. On average, equities research analysts expect that Symbotic Inc. will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SYM shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 target price on shares of Symbotic in a research note on Friday, January 17th. Oppenheimer initiated coverage on Symbotic in a research report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price objective on the stock. TD Cowen lifted their price objective on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Northland Securities upped their target price on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, Citigroup reiterated a “buy” rating and set a $37.00 price target on shares of Symbotic in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.73.

Insider Activity at Symbotic

In other news, insider William M. Boyd III sold 8,826 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $28.33, for a total value of $250,040.58. Following the completion of the transaction, the insider now directly owns 23,012 shares in the company, valued at approximately $651,929.96. This represents a 27.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Carol J. Hibbard sold 22,821 shares of Symbotic stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total transaction of $660,896.16. Following the sale, the chief financial officer now directly owns 34,188 shares in the company, valued at $990,084.48. This trade represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 117,993 shares of company stock worth $3,490,555. Corporate insiders own 38.30% of the company’s stock.

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.