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

Fortis Group Advisors LLC grew its stake in Symbotic Inc. (NASDAQ:SYM) by 231.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,898 shares of the company’s stock after buying an additional 11,801 shares during the period. Fortis Group Advisors LLC’s holdings in Symbotic were worth $919,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Centerpoint Advisors LLC boosted its stake in Symbotic by 16.7% during the 3rd quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock worth $75,000 after purchasing an additional 200 shares during the period. Barton Investment Management raised its position in Symbotic by 0.8% during the 4th quarter. Barton Investment Management now owns 30,658 shares of the company’s stock worth $1,824,000 after buying an additional 233 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Symbotic by 4.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,627 shares of the company’s stock worth $357,000 after buying an additional 273 shares during the last quarter. AlphaQuest LLC raised its position in Symbotic by 12.9% during the 3rd quarter. AlphaQuest LLC now owns 2,519 shares of the company’s stock worth $136,000 after buying an additional 287 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Symbotic by 4.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 7,733 shares of the company’s stock valued at $460,000 after purchasing an additional 321 shares in the last quarter.

Insider Activity

In other Symbotic news, Director Todd Krasnow sold 25,422 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $52.45, for a total transaction of $1,333,383.90. Following the sale, the director directly owned 182,036 shares of the company’s stock, valued at $9,547,788.20. This trade represents a 12.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William M. Boyd III sold 9,194 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $58.75, for a total transaction of $540,147.50. Following the sale, the insider directly owned 62,227 shares in the company, valued at $3,655,836.25. This represents a 12.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 123,003 shares of company stock worth $6,996,241 in the last three months. Company insiders own 8.16% of the company’s stock.

Analyst Ratings Changes

SYM has been the subject of a number of research analyst reports. Weiss Ratings downgraded shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. DA Davidson reiterated a “buy” rating and issued a $70.00 price target on shares of Symbotic in a report on Monday, May 11th. Northland Securities set a $73.00 price target on shares of Symbotic in a report on Thursday, February 5th. UBS Group set a $70.00 price target on shares of Symbotic in a report on Wednesday, February 18th. Finally, Wall Street Zen downgraded shares of Symbotic from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $65.62.

Symbotic Trading Up 2.0%

NASDAQ:SYM opened at $50.95 on Friday. The firm has a 50-day moving average price of $54.16 and a two-hundred day moving average price of $59.11. Symbotic Inc. has a twelve month low of $26.70 and a twelve month high of $87.88. The company has a market capitalization of $30.71 billion, a P/E ratio of -1,018.80, a price-to-earnings-growth ratio of 7.37 and a beta of 2.03.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share 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 for the quarter, compared to analysts’ expectations of $662.66 million. During the same quarter last year, the business posted ($0.04) earnings per share. The business’s revenue was up 23.1% compared to the same quarter last year. On average, equities research analysts predict that Symbotic Inc. will post 0.23 earnings per share for the current year.

Symbotic Company 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.