DDD Partners LLC Has $5.59 Million Position in Symbotic Inc. $SYM

DDD Partners LLC lowered its holdings in Symbotic Inc. (NASDAQ:SYM) by 10.0% in the third quarter, Holdings Channel.com reports. The firm owned 103,611 shares of the company’s stock after selling 11,468 shares during the period. DDD Partners LLC’s holdings in Symbotic were worth $5,585,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. IAG Wealth Partners LLC purchased a new stake in Symbotic in the 2nd quarter worth about $32,000. Gables Capital Management Inc. purchased a new stake in shares of Symbotic in the second quarter worth approximately $39,000. NewEdge Advisors LLC boosted its holdings in shares of Symbotic by 81.5% during the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock worth $50,000 after purchasing an additional 573 shares during the period. Centerpoint Advisors LLC grew its position in Symbotic by 16.7% during the third quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock valued at $75,000 after purchasing an additional 200 shares in the last quarter. Finally, KBC Group NV acquired a new position in Symbotic in the 2nd quarter valued at approximately $66,000.

Symbotic Stock Up 0.4%

NASDAQ:SYM opened at $54.95 on Friday. The company’s 50 day moving average is $61.37 and its 200-day moving average is $60.50. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $87.88. The firm has a market cap of $32.50 billion, a price-to-earnings ratio of -549.45, a P/E/G ratio of 7.29 and a beta of 2.13.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). The business had revenue of $629.99 million during the quarter, compared to the consensus estimate of $622.58 million. Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The company’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Research analysts predict that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider William M. Boyd III sold 15,000 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO James Kuffner sold 77,321 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $59.76, for a total transaction of $4,620,702.96. Following the transaction, the chief technology officer directly owned 144,982 shares in the company, valued at $8,664,124.32. This trade represents a 34.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 7,205,878 shares of company stock valued at $385,220,890 in the last ninety days. Company insiders own 8.16% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on SYM shares. Cantor Fitzgerald boosted their price target on shares of Symbotic from $60.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Barclays boosted their target price on Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Monday, January 12th. Deutsche Bank Aktiengesellschaft raised their price target on Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a research note on Tuesday, November 25th. Wall Street Zen upgraded Symbotic from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Robert W. Baird increased their price objective on Symbotic from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.07.

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.