Hunter Associates Investment Management LLC Acquires 5,392 Shares of Symbotic Inc. (NASDAQ:SYM)

Hunter Associates Investment Management LLC boosted its position in Symbotic Inc. (NASDAQ:SYMFree Report) by 29.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 23,468 shares of the company’s stock after purchasing an additional 5,392 shares during the period. Hunter Associates Investment Management LLC’s holdings in Symbotic were worth $778,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of SYM. Softbank Group CORP. raised its holdings in Symbotic by 1,000.0% in the 1st quarter. Softbank Group CORP. now owns 22,000,000 shares of the company’s stock valued at $502,480,000 after acquiring an additional 20,000,000 shares during the period. Frontier Capital Management Co. LLC raised its holdings in Symbotic by 202.3% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,041,144 shares of the company’s stock valued at $23,780,000 after acquiring an additional 696,727 shares during the period. FMR LLC raised its holdings in Symbotic by 759.7% in the 1st quarter. FMR LLC now owns 383,593 shares of the company’s stock valued at $8,761,000 after acquiring an additional 338,975 shares during the period. First Trust Advisors LP bought a new position in Symbotic in the 1st quarter valued at about $6,538,000. Finally, Driehaus Capital Management LLC bought a new position in Symbotic in the 2nd quarter valued at about $11,484,000.

Analyst Ratings Changes

Several brokerages have recently commented on SYM. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 target price on shares of Symbotic in a report on Tuesday, February 6th. Robert W. Baird lowered their target price on shares of Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Needham & Company LLC lowered their target price on shares of Symbotic from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Finally, The Goldman Sachs Group lowered their target price on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.85.

Get Our Latest Stock Analysis on Symbotic

Symbotic Price Performance

Shares of NASDAQ:SYM opened at $47.52 on Monday. The company’s 50 day simple moving average is $47.44 and its 200 day simple moving average is $42.75. Symbotic Inc. has a 1 year low of $14.14 and a 1 year high of $64.14.

Symbotic (NASDAQ:SYMGet Free Report) last issued its earnings results on Monday, November 20th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. The company had revenue of $391.89 million during the quarter, compared to analyst estimates of $306.89 million. During the same quarter in the prior year, the business earned ($0.10) EPS. The business’s quarterly revenue was up 60.3% on a year-over-year basis. Equities analysts anticipate that Symbotic Inc. will post -0.02 EPS for the current year.

Insider Buying and Selling at Symbotic

In other Symbotic news, Director Todd Krasnow sold 51,106 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $52.72, for a total value of $2,694,308.32. Following the sale, the director now owns 406,036 shares in the company, valued at $21,406,217.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder David A. Ladensohn sold 20,000 shares of Symbotic stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $58.48, for a total transaction of $1,169,600.00. Following the transaction, the insider now owns 15,000 shares in the company, valued at $877,200. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Todd Krasnow sold 51,106 shares of Symbotic stock in a transaction on Friday, November 24th. The stock was sold at an average price of $52.72, for a total transaction of $2,694,308.32. Following the transaction, the director now owns 406,036 shares in the company, valued at approximately $21,406,217.92. The disclosure for this sale can be found here. Insiders have sold 493,306 shares of company stock worth $24,290,258 over the last quarter. Corporate insiders own 38.30% of the company’s stock.

About Symbotic

(Free Report)

Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software.

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Institutional Ownership by Quarter for Symbotic (NASDAQ:SYM)

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