2,647 Shares in Symbotic Inc. (NASDAQ:SYM) Purchased by SG Americas Securities LLC

SG Americas Securities LLC acquired a new position in shares of Symbotic Inc. (NASDAQ:SYM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,647 shares of the company’s stock, valued at approximately $136,000.

Other institutional investors have also added to or reduced their stakes in the company. Softbank Group CORP. raised its holdings in shares of Symbotic by 1,000.0% in the 1st quarter. Softbank Group CORP. now owns 22,000,000 shares of the company’s stock valued at $502,480,000 after acquiring an additional 20,000,000 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Symbotic by 202.3% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,041,144 shares of the company’s stock valued at $23,780,000 after acquiring an additional 696,727 shares in the last quarter. FMR LLC raised its holdings in shares of Symbotic by 759.7% in the 1st quarter. FMR LLC now owns 383,593 shares of the company’s stock valued at $8,761,000 after acquiring an additional 338,975 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Symbotic in the 1st quarter valued at about $6,538,000. Finally, BlackRock Inc. increased its position in shares of Symbotic by 54.1% during the 1st quarter. BlackRock Inc. now owns 508,933 shares of the company’s stock valued at $11,624,000 after purchasing an additional 178,589 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SYM shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research report on Tuesday, February 6th. KeyCorp reduced their price objective on Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. The Goldman Sachs Group reduced their price objective on Symbotic from $51.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Robert W. Baird reduced their price objective on Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. Finally, William Blair reiterated a “market perform” rating on shares of Symbotic in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Symbotic Price Performance

SYM opened at $40.88 on Wednesday. The stock’s 50 day simple moving average is $43.77 and its 200 day simple moving average is $44.01. Symbotic Inc. has a 1 year low of $22.40 and a 1 year high of $64.14. The firm has a market cap of $23.59 billion, a price-to-earnings ratio of -151.41 and a beta of 1.91.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $368.45 million for the quarter, compared to analyst estimates of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. As a group, sell-side analysts anticipate that Symbotic Inc. will post -0.02 EPS for the current year.

Insider Transactions at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $51.50, for a total value of $103,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $51.50, for a total value of $103,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard B. Cohen sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,188,628 shares of company stock worth $279,026,777. 38.30% of the stock is currently owned by insiders.

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.