Hussman Strategic Advisors Inc. Invests $1.13 Million in Symbotic Inc. $SYM

Hussman Strategic Advisors Inc. purchased a new position in shares of Symbotic Inc. (NASDAQ:SYM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,000 shares of the company’s stock, valued at approximately $1,132,000.

Several other large investors have also recently added to or reduced their stakes in SYM. Royal Bank of Canada lifted its position in Symbotic by 28.8% in the 1st quarter. Royal Bank of Canada now owns 84,856 shares of the company’s stock worth $1,714,000 after buying an additional 18,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Symbotic by 15.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company’s stock valued at $1,716,000 after purchasing an additional 11,098 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Symbotic by 24.0% during the second quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company’s stock valued at $69,000 after purchasing an additional 342 shares during the last quarter. PFG Investments LLC purchased a new position in Symbotic in the second quarter valued at about $255,000. Finally, J. Safra Sarasin Holding AG acquired a new position in Symbotic in the 2nd quarter worth about $233,000.

Symbotic Price Performance

Shares of SYM opened at $55.10 on Thursday. The company has a market capitalization of $32.59 billion, a PE ratio of -367.33, a price-to-earnings-growth ratio of 16.73 and a beta of 2.13. Symbotic Inc. has a one year low of $16.32 and a one year high of $87.88. The company’s fifty day moving average price is $64.65 and its 200 day moving average price is $60.14.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The firm had revenue of $618.46 million for the quarter, compared to the consensus estimate of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $0.47 earnings per share. Analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SYM. The Goldman Sachs Group reiterated a “sell” rating and set a $50.00 price target on shares of Symbotic in a report on Thursday, January 15th. Citigroup lifted their target price on shares of Symbotic from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Northcoast Research lowered shares of Symbotic from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 25th. Zacks Research downgraded shares of Symbotic from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a report on Tuesday, November 25th. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, Symbotic has a consensus rating of “Hold” and a consensus target price of $56.79.

Insider Transactions at Symbotic

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, Director Todd Krasnow sold 4,000 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $68.63, for a total transaction of $274,520.00. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 7,149,307 shares of company stock worth $382,367,952. Insiders own 8.16% of the company’s stock.

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.