PNC Financial Services Group Inc. Buys 800 Shares of Symbotic Inc. (NASDAQ:SYM)

PNC Financial Services Group Inc. grew its stake in Symbotic Inc. (NASDAQ:SYMFree Report) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,632 shares of the company’s stock after acquiring an additional 800 shares during the period. PNC Financial Services Group Inc.’s holdings in Symbotic were worth $597,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Symbotic by 8.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,875 shares of the company’s stock worth $250,000 after buying an additional 400 shares during the period. Natixis Advisors L.P. grew its position in shares of Symbotic by 4.3% during the 4th quarter. Natixis Advisors L.P. now owns 10,983 shares of the company’s stock worth $563,000 after buying an additional 456 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Symbotic during the 4th quarter worth approximately $26,000. Bourne Lent Asset Management Inc. grew its holdings in Symbotic by 1.0% during the fourth quarter. Bourne Lent Asset Management Inc. now owns 58,260 shares of the company’s stock valued at $2,990,000 after purchasing an additional 600 shares during the period. Finally, TFC Financial Management Inc. grew its holdings in Symbotic by 97.1% during the fourth quarter. TFC Financial Management Inc. now owns 1,226 shares of the company’s stock valued at $63,000 after purchasing an additional 604 shares during the period.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SYM shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Wednesday, February 7th. Northland Securities boosted their price objective on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. The Goldman Sachs Group decreased their price objective on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Finally, Craig Hallum boosted their price objective on shares of Symbotic from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Symbotic currently has a consensus rating of “Moderate Buy” and an average price target of $55.69.

Read Our Latest Stock Report on SYM

Symbotic Price Performance

Shares of SYM stock opened at $39.57 on Friday. Symbotic Inc. has a 12 month low of $29.62 and a 12 month high of $64.14. The company’s fifty day simple moving average is $42.84 and its 200-day simple moving average is $45.12.

Symbotic (NASDAQ:SYMGet Free Report) last announced its earnings results on Monday, May 6th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.25. Symbotic had a negative net margin of 1.27% and a positive return on equity of 5.27%. The business had revenue of $424.30 million during the quarter, compared to analysts’ expectations of $415.98 million. As a group, sell-side analysts forecast that Symbotic Inc. will post -0.1 EPS for the current year.

Insider Buying and Selling

In related news, insider Michael David Dunn sold 2,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $40.00, for a total transaction of $80,000.00. Following the completion of the transaction, the insider now owns 72,032 shares in the company, valued at $2,881,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Symbotic news, insider Michael David Dunn sold 2,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $40.00, for a total value of $80,000.00. Following the completion of the sale, the insider now owns 72,032 shares in the company, valued at $2,881,280. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider William M. Boyd III sold 8,825 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $40.34, for a total transaction of $356,000.50. Following the completion of the sale, the insider now owns 23,012 shares of the company’s stock, valued at approximately $928,304.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,351 shares of company stock worth $4,227,015. 38.30% of the stock is owned by insiders.

About Symbotic

(Free Report)

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.

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Institutional Ownership by Quarter for Symbotic (NASDAQ:SYM)

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