Invesco Ltd. Increases Holdings in Symbotic Inc. (NASDAQ:SYM)

Invesco Ltd. raised its stake in shares of Symbotic Inc. (NASDAQ:SYM) by 25.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 727,890 shares of the company’s stock after buying an additional 149,918 shares during the quarter. Invesco Ltd. owned about 0.12% of Symbotic worth $17,258,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. IFP Advisors Inc increased its stake in shares of Symbotic by 58.2% in the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after buying an additional 503 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Symbotic by 1.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company’s stock valued at $1,154,000 after acquiring an additional 619 shares during the period. Geode Capital Management LLC raised its stake in shares of Symbotic by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 505,114 shares of the company’s stock valued at $11,981,000 after acquiring an additional 1,356 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Symbotic by 154.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock worth $58,000 after purchasing an additional 1,490 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Symbotic by 11.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 16,451 shares of the company’s stock valued at $422,000 after purchasing an additional 1,646 shares during the period.

Symbotic Stock Performance

Symbotic stock opened at $20.41 on Monday. The company has a market cap of $12.01 billion, a P/E ratio of -291.53, a price-to-earnings-growth ratio of 6.48 and a beta of 1.86. Symbotic Inc. has a one year low of $16.32 and a one year high of $48.98. The business has a fifty day moving average of $22.17 and a two-hundred day moving average of $26.26.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. Sell-side analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Insider Transactions at Symbotic

In related news, insider Michael David Dunn sold 3,635 shares of Symbotic stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $33.28, for a total transaction of $120,972.80. Following the sale, the insider now directly owns 24,272 shares in the company, valued at $807,772.16. The trade was a 13.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Carol J. Hibbard sold 4,055 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total value of $124,488.50. Following the transaction, the chief financial officer now directly owns 44,386 shares of the company’s stock, valued at $1,362,650.20. This represents a 8.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,663 shares of company stock valued at $1,653,063. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SYM. BWS Financial restated a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a report on Wednesday, April 2nd. UBS Group lowered their price objective on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Needham & Company LLC reduced their target price on Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. The Goldman Sachs Group lowered their target price on Symbotic from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, Oppenheimer began coverage on Symbotic in a research note on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.20.

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.