4,522 Shares in Symbotic Inc. (NASDAQ:SYM) Acquired by Arizona State Retirement System

Arizona State Retirement System purchased a new position in Symbotic Inc. (NASDAQ:SYM) during the 4th quarter, HoldingsChannel reports. The firm purchased 4,522 shares of the company’s stock, valued at approximately $232,000.

Other hedge funds have also made changes to their positions in the company. Barclays PLC lifted its holdings in shares of 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 last quarter. Aigen Investment Management LP acquired a new stake in Symbotic in the 3rd quarter valued at approximately $545,000. LPL Financial LLC increased its position in Symbotic by 578.0% in the 3rd 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 period. Raymond James Financial Services Advisors Inc. grew its holdings in Symbotic by 176.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 75,527 shares of the company’s stock worth $2,525,000 after acquiring an additional 48,214 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Symbotic during the 3rd quarter valued at about $1,101,000.

Wall Street Analyst Weigh In

SYM has been the subject of several research reports. Northland Securities raised their price objective on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. KeyCorp reduced their price objective on shares of Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, February 6th. Needham & Company LLC reduced their price objective on shares of Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Robert W. Baird reduced their price objective on shares of Symbotic from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Tuesday, February 6th. Finally, DA Davidson upgraded shares of 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. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Symbotic Price Performance

NASDAQ SYM opened at $39.73 on Monday. The company has a 50 day simple moving average of $43.63 and a 200-day simple moving average of $44.18. The firm has a market capitalization of $22.93 billion, a price-to-earnings ratio of -147.15 and a beta of 1.91. Symbotic Inc. has a 52-week low of $22.40 and a 52-week high of $64.14.

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

Insider Transactions at Symbotic

In related news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $51.50, for a total transaction of $103,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Richard B. Cohen sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $38.32, for a total transaction of $191,600,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $51.50, for a total transaction of $103,000.00. The disclosure for this sale can be found here. Insiders sold 7,114,430 shares of company stock valued at $275,636,670 over the last three months. 38.30% of the stock is owned by corporate insiders.

Symbotic Company Profile

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.