First Trust Advisors LP Grows Position in Symbotic Inc. (NASDAQ:SYM)

First Trust Advisors LP raised its position in Symbotic Inc. (NASDAQ:SYMFree Report) by 44.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 510,237 shares of the company’s stock after purchasing an additional 155,828 shares during the quarter. First Trust Advisors LP’s holdings in Symbotic were worth $26,190,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SYM. Victory Capital Management Inc. purchased a new position in shares of Symbotic in the 3rd quarter worth about $802,000. Barclays PLC raised its holdings in shares of Symbotic by 195.5% in the 3rd quarter. Barclays PLC now owns 8,008 shares of the company’s stock worth $268,000 after purchasing an additional 5,298 shares during the period. Swiss National Bank raised its holdings in shares of Symbotic by 3.0% in the 3rd quarter. Swiss National Bank now owns 33,800 shares of the company’s stock worth $1,130,000 after purchasing an additional 1,000 shares during the period. UBS Group AG raised its holdings in shares of Symbotic by 14.6% in the 3rd quarter. UBS Group AG now owns 110,951 shares of the company’s stock worth $3,709,000 after purchasing an additional 14,170 shares during the period. Finally, Hunter Associates Investment Management LLC raised its holdings in shares of Symbotic by 29.8% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 23,468 shares of the company’s stock worth $778,000 after purchasing an additional 5,392 shares during the period.

Insider Transactions at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $39.79, for a total value of $79,580.00. Following the completion of the transaction, the director now owns 214,036 shares in the company, valued at approximately $8,516,492.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Merline Saintil sold 3,135 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $44.74, for a total transaction of $140,259.90. Following the completion of the transaction, the director now owns 62,312 shares in the company, valued at approximately $2,787,838.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $39.79, for a total value of $79,580.00. Following the transaction, the director now owns 214,036 shares of the company’s stock, valued at approximately $8,516,492.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,351 shares of company stock worth $4,306,595. 38.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SYM has been the topic of several analyst reports. William Blair reiterated a “market perform” rating on shares of Symbotic in a report on Friday, May 10th. Northland Securities raised their target price on Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft raised their target price on Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $54.00 target price on shares of Symbotic in a report on Tuesday, May 7th. Finally, Robert W. Baird raised their target price on Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.69.

View Our Latest Research Report on Symbotic

Symbotic Stock Up 2.5 %

SYM stock opened at $37.72 on Tuesday. The company has a market capitalization of $22.05 billion, a PE ratio of -157.17 and a beta of 1.92. The stock’s 50 day moving average is $41.92 and its two-hundred day moving average is $44.90. Symbotic Inc. has a 52-week low of $29.62 and a 52-week high of $64.14.

Symbotic (NASDAQ:SYMGet Free Report) last issued its earnings results on Monday, May 6th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.25. The company had revenue of $424.30 million during the quarter, compared to analyst estimates of $415.98 million. Symbotic had a positive return on equity of 5.27% and a negative net margin of 1.27%. As a group, sell-side analysts anticipate that Symbotic Inc. will post -0.07 EPS for the current year.

Symbotic Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Symbotic (NASDAQ:SYM)

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