Bosun Asset Management LLC Buys Shares of 18,752 Symbotic Inc. $SYM

Bosun Asset Management LLC acquired a new stake in Symbotic Inc. (NASDAQ:SYM) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,752 shares of the company’s stock, valued at approximately $729,000.

Several other large investors have also recently bought and sold shares of SYM. AdvisorNet Financial Inc bought a new stake in shares of Symbotic in the 2nd quarter valued at $32,000. IAG Wealth Partners LLC bought a new stake in shares of Symbotic in the second quarter worth $32,000. Gables Capital Management Inc. acquired a new position in Symbotic during the second quarter valued at approximately $39,000. AlphaQuest LLC increased its holdings in Symbotic by 318.5% during the first quarter. AlphaQuest LLC now owns 2,800 shares of the company’s stock worth $57,000 after buying an additional 2,131 shares during the last quarter. Finally, KBC Group NV acquired a new position in Symbotic during the second quarter worth $66,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group reissued a “sell” rating and issued a $35.00 price objective (up previously from $27.00) on shares of Symbotic in a research report on Tuesday, September 23rd. Oppenheimer reiterated an “outperform” rating and issued a $83.00 target price on shares of Symbotic in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft lifted their price target on Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a report on Tuesday, November 25th. Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Finally, Northland Securities lifted their target price on Symbotic from $56.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Symbotic currently has an average rating of “Hold” and a consensus target price of $56.50.

Insider Transactions at Symbotic

In other Symbotic news, Director Merline Saintil sold 9,000 shares of the stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $84.72, for a total transaction of $762,480.00. Following the transaction, the director owned 68,413 shares in the company, valued at $5,795,949.36. This represents a 11.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William M. Boyd III sold 11,735 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $82.09, for a total value of $963,326.15. Following the transaction, the insider owned 26,769 shares in the company, valued at approximately $2,197,467.21. This trade represents a 30.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 85,508 shares of company stock worth $6,304,555. Company insiders own 0.60% of the company’s stock.

Symbotic Price Performance

Shares of NASDAQ SYM opened at $59.70 on Friday. The firm has a market cap of $35.31 billion, a price-to-earnings ratio of -398.00, a P/E/G ratio of 16.94 and a beta of 2.10. The stock’s fifty day moving average price is $68.08 and its two-hundred day moving average price is $52.66. Symbotic Inc. has a one year low of $16.32 and a one year high of $87.88.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The business had revenue of $618.46 million during the quarter, compared to the consensus estimate of $604.00 million. During the same period in the previous year, the firm posted $0.47 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Symbotic Profile

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.