SG Americas Securities LLC Invests $136,000 in Symbotic Inc. (NASDAQ:SYM)

SG Americas Securities LLC bought a new position in Symbotic Inc. (NASDAQ:SYM) during the fourth quarter, Holdings Channel reports. The firm bought 2,647 shares of the company’s stock, valued at approximately $136,000.

A number of other hedge funds have also recently modified their holdings of SYM. Barclays PLC raised its holdings in Symbotic by 195.5% in the 3rd quarter. Barclays PLC now owns 8,008 shares of the company’s stock worth $268,000 after purchasing an additional 5,298 shares during the period. Aigen Investment Management LP acquired a new position in shares of Symbotic during the third quarter valued at approximately $545,000. LPL Financial LLC raised its holdings in shares of Symbotic by 578.0% during the third quarter. LPL Financial LLC now owns 102,059 shares of the company’s stock valued at $3,412,000 after acquiring an additional 87,006 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Symbotic by 176.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 75,527 shares of the company’s stock valued at $2,525,000 after acquiring an additional 48,214 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Symbotic during the third quarter valued at approximately $1,101,000.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Robert W. Baird reduced their target price on Symbotic from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a report on Wednesday, February 7th. William Blair reissued a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Northland Securities upped their price target on Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, KeyCorp dropped their price target on Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Symbotic currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Symbotic Stock Performance

Shares of Symbotic stock opened at $40.88 on Wednesday. The firm has a market capitalization of $23.59 billion, a price-to-earnings ratio of -151.41 and a beta of 1.91. Symbotic Inc. has a fifty-two week low of $22.40 and a fifty-two week high of $64.14. The stock has a 50 day moving average of $43.77 and a 200 day moving average of $44.01.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. The company had revenue of $368.45 million during the quarter, compared to analyst estimates of $370.28 million. Analysts forecast that Symbotic Inc. will post -0.02 EPS for the current year.

Insider Transactions at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $42.20, for a total transaction of $84,400.00. Following the completion of the transaction, the director now directly owns 10,447 shares in the company, valued at $440,863.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Michael David Dunn sold 74,198 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $45.69, for a total transaction of $3,390,106.62. Following the completion of the transaction, the insider now directly owns 62,624 shares in the company, valued at $2,861,290.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $42.20, for a total value of $84,400.00. Following the completion of the sale, the director now owns 10,447 shares in the company, valued at $440,863.40. The disclosure for this sale can be found here. Insiders sold a total of 7,188,628 shares of company stock worth $279,026,777 over the last ninety days. Company insiders own 38.30% of the company’s stock.

About Symbotic

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.