30,000 Shares in Symbotic Inc. $SYM Acquired by Polianta Ltd

Polianta Ltd acquired a new stake in shares of Symbotic Inc. (NASDAQ:SYM) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 30,000 shares of the company’s stock, valued at approximately $1,596,000. Symbotic comprises about 0.2% of Polianta Ltd’s portfolio, making the stock its 27th largest holding.

A number of other hedge funds have also modified their holdings of the stock. Parkside Financial Bank & Trust lifted its holdings in shares of Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock valued at $32,000 after purchasing an additional 268 shares during the last quarter. MAI Capital Management increased its stake in Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares in the last quarter. Quarry LP purchased a new position in Symbotic in the 4th quarter worth about $36,000. Parallel Advisors LLC raised its holdings in Symbotic by 67.3% during the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after buying an additional 249 shares during the period. Finally, Ameriflex Group Inc. raised its holdings in Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after buying an additional 660 shares during the period.

Symbotic Price Performance

NASDAQ:SYM opened at $41.68 on Friday. The stock has a market cap of $25.12 billion, a PE ratio of -833.43, a price-to-earnings-growth ratio of 6.15 and a beta of 1.91. Symbotic Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $87.88. The stock’s 50-day moving average is $51.69 and its two-hundred day moving average is $55.95.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). The company had revenue of $676.48 million during the quarter, compared to analysts’ expectations of $662.65 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.Symbotic’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period last year, the company earned ($0.04) earnings per share. On average, equities research analysts anticipate that Symbotic Inc. will post 0.23 earnings per share for the current year.

Insider Transactions at Symbotic

In other Symbotic news, insider William M. Boyd III sold 9,194 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $58.75, for a total value of $540,147.50. Following the transaction, the insider owned 62,227 shares in the company, valued at approximately $3,655,836.25. This represents a 12.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Maria G. Freve sold 2,335 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $60.08, for a total transaction of $140,286.80. Following the completion of the sale, the insider owned 3,004 shares of the company’s stock, valued at approximately $180,480.32. The trade was a 43.73% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 144,431 shares of company stock worth $8,141,204. 8.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on SYM shares. DA Davidson reiterated a “buy” rating and issued a $70.00 target price on shares of Symbotic in a report on Monday, May 11th. Barclays boosted their price target on shares of Symbotic from $42.00 to $44.00 and gave the company an “underweight” rating in a report on Monday, March 16th. The Goldman Sachs Group reduced their price target on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a research report on Tuesday, May 26th. Wall Street Zen lowered shares of Symbotic from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Weiss Ratings cut shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.23.

About Symbotic

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.