SG Americas Securities LLC Buys 10,401 Shares of Symbotic Inc. (NASDAQ:SYM)

SG Americas Securities LLC increased its holdings in Symbotic Inc. (NASDAQ:SYM) by 44.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,986 shares of the company’s stock after acquiring an additional 10,401 shares during the quarter. SG Americas Securities LLC’s holdings in Symbotic were worth $687,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SYM. IFP Advisors Inc raised its position in shares of Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after purchasing an additional 503 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Symbotic by 1.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company’s stock worth $1,154,000 after purchasing an additional 619 shares during the period. Tower Research Capital LLC TRC grew its stake in Symbotic by 40.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company’s stock valued at $85,000 after acquiring an additional 1,018 shares during the period. Bourne Lent Asset Management Inc. grew its stake in Symbotic by 1.3% in the 1st quarter. Bourne Lent Asset Management Inc. now owns 88,360 shares of the company’s stock valued at $1,786,000 after acquiring an additional 1,150 shares during the period. Finally, Cetera Investment Advisers boosted its stake in Symbotic by 5.7% during the 4th quarter. Cetera Investment Advisers now owns 24,621 shares of the company’s stock worth $584,000 after purchasing an additional 1,332 shares during the last quarter.

Analysts Set New Price Targets

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

Insider Buying and Selling at Symbotic

In other news, CFO Carol J. Hibbard sold 4,628 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $22.62, for a total transaction of $104,685.36. Following the completion of the sale, the chief financial officer now owns 54,011 shares in the company, valued at approximately $1,221,728.82. The trade was a 7.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniela L. Rus sold 1,000 shares of Symbotic stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $30.00, for a total transaction of $30,000.00. Following the sale, the director now owns 26,435 shares in the company, valued at $793,050. This represents a 3.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,056 shares of company stock valued at $1,198,707. Insiders own 0.60% of the company’s stock.

Symbotic Price Performance

Symbotic stock opened at $34.00 on Friday. The business has a 50 day simple moving average of $26.37 and a 200-day simple moving average of $25.43. The stock has a market capitalization of $20.05 billion, a PE ratio of -850.00, a price-to-earnings-growth ratio of 59.50 and a beta of 1.95. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $41.76.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The business had revenue of $549.65 million during the quarter, compared to analysts’ expectations of $522.36 million. Symbotic had a negative return on equity of 1.26% and a negative net margin of 0.23%. The company’s revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) EPS. As a group, equities research analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current year.

Symbotic 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.