Symbotic Inc. (NASDAQ:SYM) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Symbotic Inc. (NASDAQ:SYM) by 26.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,801 shares of the company’s stock after acquiring an additional 15,394 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Symbotic were worth $1,750,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Walmart Inc. purchased a new stake in shares of Symbotic in the fourth quarter worth approximately $355,650,000. JPMorgan Chase & Co. boosted its stake in shares of Symbotic by 100.6% during the 4th quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company’s stock valued at $411,000 after buying an additional 3,110,075 shares during the period. Vanguard Group Inc. grew its holdings in shares of Symbotic by 41.3% during the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock valued at $117,846,000 after acquiring an additional 1,452,627 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Symbotic during the fourth quarter worth $20,754,000. Finally, Hood River Capital Management LLC purchased a new stake in shares of Symbotic during the fourth quarter worth $5,704,000.

Insider Activity at Symbotic

In other news, insider Michael David Dunn sold 2,040 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $22.24, for a total transaction of $45,369.60. Following the transaction, the insider now directly owns 23,822 shares in the company, valued at approximately $529,801.28. This represents a 7.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William M. Boyd III sold 2,455 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $22.31, for a total transaction of $54,771.05. Following the completion of the transaction, the insider now owns 39,659 shares of the company’s stock, valued at $884,792.29. This trade represents a 5.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,056 shares of company stock valued at $1,028,601 in the last ninety days. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Citigroup lowered their price target on Symbotic from $37.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, April 14th. UBS Group cut their price target on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. The Goldman Sachs Group decreased their price objective on shares of Symbotic from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Finally, BWS Financial restated a “sell” rating and set a $10.00 target price on shares of Symbotic in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.20.

Symbotic Trading Up 1.9%

NASDAQ SYM opened at $29.81 on Friday. Symbotic Inc. has a 1-year low of $16.32 and a 1-year high of $41.76. The company has a market capitalization of $17.58 billion, a price-to-earnings ratio of -425.80, a PEG ratio of 6.48 and a beta of 1.95. The stock’s 50 day moving average is $24.03 and its two-hundred day moving average is $25.35.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. The company had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. During the same period in the prior year, the firm earned ($0.07) EPS. Symbotic’s quarterly revenue was up 39.7% compared to the same quarter last year. On average, analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.

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.