Mutual Advisors LLC Purchases Shares of 35,612 Symbotic Inc. $SYM

Mutual Advisors LLC purchased a new stake in shares of Symbotic Inc. (NASDAQ:SYM) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 35,612 shares of the company’s stock, valued at approximately $1,919,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MWA Asset Management bought a new stake in shares of Symbotic during the third quarter valued at approximately $244,000. AlphaQuest LLC increased its holdings in shares of Symbotic by 12.9% in the 3rd quarter. AlphaQuest LLC now owns 2,519 shares of the company’s stock valued at $136,000 after acquiring an additional 287 shares during the last quarter. Arizona State Retirement System grew its position in shares of Symbotic by 2.6% in the 3rd quarter. Arizona State Retirement System now owns 14,512 shares of the company’s stock valued at $782,000 after buying an additional 371 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of Symbotic during the third quarter worth approximately $108,000. Finally, Addison Capital Co acquired a new stake in Symbotic during the 3rd quarter worth approximately $216,000.

Insiders Place Their Bets

In related news, major shareholder Group Corp. Softbank sold 3,500,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $53.21, for a total transaction of $186,235,000.00. Following the sale, the insider directly owned 5,590,000 shares in the company, valued at $297,443,900. This represents a 38.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Svf Sponsor Iii (De) Llc sold 3,500,000 shares of Symbotic stock in a transaction on Monday, December 8th. The shares were sold at an average price of $53.21, for a total value of $186,235,000.00. Following the completion of the transaction, the insider owned 5,590,000 shares of the company’s stock, valued at approximately $297,443,900. The trade was a 38.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 7,141,878 shares of company stock worth $381,555,370 over the last ninety days. 8.16% of the stock is owned by insiders.

Symbotic Price Performance

Shares of SYM stock opened at $56.12 on Wednesday. The stock has a fifty day moving average price of $64.25 and a 200 day moving average price of $60.31. The stock has a market cap of $33.20 billion, a P/E ratio of -374.13, a price-to-earnings-growth ratio of 15.36 and a beta of 2.13. Symbotic Inc. has a one year low of $16.32 and a one year high of $87.88.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Northland Securities increased their target price on Symbotic from $56.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. Needham & Company LLC upped their target price on Symbotic from $57.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Cantor Fitzgerald raised 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. Robert W. Baird boosted their price target on shares of Symbotic from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Finally, Citigroup boosted their price objective on shares of Symbotic from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $56.79.

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.