16,624 Shares in Symbotic Inc. $SYM Bought by Entropy Technologies LP

Entropy Technologies LP acquired a new position in Symbotic Inc. (NASDAQ:SYM) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,624 shares of the company’s stock, valued at approximately $884,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its stake in shares of Symbotic by 100.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after purchasing an additional 268 shares during the period. Quarry LP purchased a new position in shares of Symbotic in the 4th quarter valued at about $36,000. Parallel Advisors LLC lifted its stake in shares of Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after purchasing an additional 249 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Symbotic in the fourth quarter valued at about $48,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Symbotic during the fourth quarter worth about $55,000.

Wall Street Analyst Weigh In

SYM has been the subject of a number of research analyst reports. Weiss Ratings cut shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Zacks Research downgraded Symbotic from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. DA Davidson reissued a “buy” rating and issued a $70.00 price objective on shares of Symbotic in a research report on Monday, May 11th. Finally, The Goldman Sachs Group reduced their price objective on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a research note on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $66.50.

Symbotic Price Performance

NASDAQ SYM opened at $42.34 on Wednesday. The company has a market cap of $25.52 billion, a P/E ratio of -846.63, a P/E/G ratio of 6.12 and a beta of 1.93. Symbotic Inc. has a 12 month low of $38.19 and a 12 month high of $87.88. The company has a 50-day moving average of $44.00 and a 200-day moving average of $51.98.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.11). Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The company had revenue of $676.48 million during the quarter, compared to analyst estimates of $662.65 million. During the same period in the prior year, the business posted ($0.04) earnings per share. Symbotic’s revenue was up 23.1% on a year-over-year basis. As a group, equities research analysts anticipate that Symbotic Inc. will post 0.23 EPS for the current year.

Insider Activity at Symbotic

In other Symbotic news, CTO James Kuffner sold 18,987 shares of Symbotic stock in a transaction on Friday, July 24th. The shares were sold at an average price of $40.38, for a total value of $766,695.06. Following the transaction, the chief technology officer owned 214,062 shares in the company, valued at $8,643,823.56. This trade represents a 8.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Maria G. Freve sold 2,244 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $40.28, for a total transaction of $90,388.32. Following the sale, the insider directly owned 3,096 shares of the company’s stock, valued at $124,706.88. This represents a 42.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 115,970 shares of company stock valued at $5,561,616 over the last 90 days. 8.16% of the stock is currently owned by insiders.

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.