Vanguard Group Inc. Purchases 98,384 Shares of Symbotic Inc. $SYM

Vanguard Group Inc. boosted its holdings in Symbotic Inc. (NASDAQ:SYM) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,695,021 shares of the company’s stock after buying an additional 98,384 shares during the quarter. Vanguard Group Inc.’s holdings in Symbotic were worth $253,062,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SYM. IAG Wealth Partners LLC acquired a new position in Symbotic in the 2nd quarter valued at approximately $32,000. Fifth Third Bancorp grew its stake in shares of Symbotic by 20,000.0% in the third quarter. Fifth Third Bancorp now owns 1,005 shares of the company’s stock worth $54,000 after purchasing an additional 1,000 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Symbotic by 81.5% in the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock valued at $50,000 after purchasing an additional 573 shares during the period. Centerpoint Advisors LLC raised its position in Symbotic by 16.7% during the 3rd quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock worth $75,000 after purchasing an additional 200 shares during the last quarter. Finally, KBC Group NV bought a new position in Symbotic during the 2nd quarter worth $66,000.

Symbotic Stock Performance

Shares of SYM opened at $54.78 on Friday. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $87.88. The business’s 50 day moving average price is $60.34 and its two-hundred day moving average price is $60.56. The firm has a market cap of $32.99 billion, a PE ratio of -547.75, a price-to-earnings-growth ratio of 5.49 and a beta of 2.13.

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

Insiders Place Their Bets

In other news, insider Maria G. Freve sold 8,306 shares of the stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $55.11, for a total transaction of $457,743.66. Following the transaction, the insider owned 539 shares of the company’s stock, valued at $29,704.29. This represents a 93.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rollin L. Ford sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $57.51, for a total value of $3,450,600.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 7,190,533 shares of company stock valued at $383,891,335. 8.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SYM shares. Northcoast Research cut Symbotic from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 25th. Wall Street Zen cut Symbotic from a “buy” rating to a “hold” rating in a report on Saturday. Oppenheimer restated an “outperform” rating and set a $83.00 price target on shares of Symbotic in a report on Tuesday, November 25th. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Symbotic in a research report on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.57.

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.