BI Asset Management Fondsmaeglerselskab A S Has $4.50 Million Stake in Symbotic Inc. $SYM

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in Symbotic Inc. (NASDAQ:SYM) by 21.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,701 shares of the company’s stock after selling 20,171 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Symbotic were worth $4,504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Centerpoint Advisors LLC grew its stake in Symbotic by 16.7% in the third quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock valued at $75,000 after acquiring an additional 200 shares during the period. Barton Investment Management lifted its holdings in shares of Symbotic by 0.8% in the fourth quarter. Barton Investment Management now owns 30,658 shares of the company’s stock valued at $1,824,000 after purchasing an additional 233 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of 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 purchasing an additional 249 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Symbotic by 4.3% in the third quarter. PNC Financial Services Group Inc. now owns 6,627 shares of the company’s stock valued at $357,000 after purchasing an additional 273 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of Symbotic by 12.9% in the third quarter. AlphaQuest LLC now owns 2,519 shares of the company’s stock valued at $136,000 after purchasing an additional 287 shares in the last quarter.

Wall Street Analysts Forecast Growth

SYM has been the topic of a number of research reports. Barclays boosted their price target on Symbotic from $42.00 to $44.00 and gave the company an “underweight” rating in a report on Monday, March 16th. DA Davidson restated a “buy” rating and issued a $70.00 price target on shares of Symbotic in a report on Monday, May 11th. Wall Street Zen lowered Symbotic from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. UBS Group set a $70.00 target price on Symbotic in a report on Wednesday, February 18th. Finally, Weiss Ratings lowered Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $65.23.

Symbotic Stock Performance

Symbotic stock opened at $44.02 on Monday. Symbotic Inc. has a 12 month low of $27.26 and a 12 month high of $87.88. The stock’s 50 day moving average is $53.78 and its 200-day moving average is $57.67. The company has a market capitalization of $26.53 billion, a price-to-earnings ratio of -880.22, a PEG ratio of 6.49 and a beta of 1.92.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.11). The firm had revenue of $676.48 million during the quarter, compared to analyst estimates of $662.66 million. Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. Symbotic’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.04) EPS. As a group, equities research analysts predict that Symbotic Inc. will post 0.23 earnings per share for the current fiscal year.

Insider Transactions at Symbotic

In other Symbotic news, CTO James Kuffner sold 3,878 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.51, for a total value of $207,511.78. Following the sale, the chief technology officer owned 185,126 shares of the company’s stock, valued at approximately $9,906,092.26. This trade represents a 2.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $47.30, for a total value of $94,600.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 147,845 shares of company stock worth $8,314,704. 8.16% of the stock is owned by 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.