Freemont Management S.A. Purchases 22,100 Shares of Symbotic Inc. $SYM

Freemont Management S.A. boosted its position in shares of Symbotic Inc. (NASDAQ:SYM) by 197.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,300 shares of the company’s stock after acquiring an additional 22,100 shares during the period. Freemont Management S.A.’s holdings in Symbotic were worth $1,981,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centerpoint Advisors LLC raised its stake 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 acquiring an additional 200 shares during the period. Barton Investment Management raised its stake in Symbotic by 0.8% during the 4th quarter. Barton Investment Management now owns 30,658 shares of the company’s stock worth $1,824,000 after acquiring an additional 233 shares during the period. PNC Financial Services Group Inc. raised its stake in Symbotic by 4.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,627 shares of the company’s stock worth $357,000 after acquiring an additional 273 shares during the period. AlphaQuest LLC raised its stake in Symbotic by 12.9% during the 3rd quarter. AlphaQuest LLC now owns 2,519 shares of the company’s stock worth $136,000 after acquiring an additional 287 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in Symbotic by 4.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 7,733 shares of the company’s stock worth $460,000 after acquiring an additional 321 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group set a $70.00 price objective on shares of Symbotic in a research report on Wednesday, February 18th. Northland Securities set a $73.00 price objective on shares of Symbotic in a research report on Thursday, February 5th. The Goldman Sachs Group reiterated a “sell” rating and set a $50.00 price objective on shares of Symbotic in a research report on Thursday, January 15th. Weiss Ratings cut shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Citigroup reiterated an “outperform” rating on shares of Symbotic in a research report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Symbotic currently has a consensus rating of “Hold” and a consensus target price of $65.62.

Insider Transactions at Symbotic

In other Symbotic news, insider William M. Boyd III sold 9,194 shares of Symbotic stock in a transaction on Monday, April 27th. The shares were sold at an average price of $58.75, for a total transaction of $540,147.50. Following the completion of the transaction, the insider directly owned 62,227 shares of the company’s stock, valued at $3,655,836.25. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles Kane sold 4,000 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $47.86, for a total transaction of $191,440.00. Following the completion of the sale, the director directly owned 89,852 shares in the company, valued at approximately $4,300,316.72. This represents a 4.26% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 123,003 shares of company stock worth $6,996,241. 8.16% of the stock is currently owned by corporate insiders.

Symbotic Stock Down 3.1%

Shares of NASDAQ:SYM opened at $49.73 on Thursday. Symbotic Inc. has a 52 week low of $26.03 and a 52 week high of $87.88. The stock has a market capitalization of $29.95 billion, a P/E ratio of -994.40, a PEG ratio of 5.14 and a beta of 2.03. The firm has a fifty day simple moving average of $54.49 and a two-hundred day simple moving average of $60.15.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). The business had revenue of $676.48 million during the quarter, compared to the consensus estimate of $662.66 million. Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The firm’s revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.04) EPS. On average, analysts expect that Symbotic Inc. will post 0.33 earnings per share for the current year.

Symbotic 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.