GAMMA Investing LLC Grows Stock Holdings in Symbotic Inc. (NASDAQ:SYM)

GAMMA Investing LLC boosted its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 1,812.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,415 shares of the company’s stock after buying an additional 1,341 shares during the quarter. GAMMA Investing LLC’s holdings in Symbotic were worth $29,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position 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 purchasing an additional 503 shares during the period. Private Trust Co. NA bought a new position in shares of Symbotic in the fourth quarter worth approximately $47,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Symbotic in the fourth quarter worth approximately $47,000. Jones Financial Companies Lllp boosted its position in shares of Symbotic by 154.1% in 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, Tower Research Capital LLC TRC boosted its position in shares of Symbotic by 40.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company’s stock worth $85,000 after purchasing an additional 1,018 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SYM shares. The Goldman Sachs Group dropped their price target on shares of Symbotic from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Arete Research upgraded shares of Symbotic to a “strong-buy” rating and set a $50.00 target price for the company in a research report on Wednesday. BWS Financial restated a “sell” rating and set a $10.00 target price on shares of Symbotic in a research report on Wednesday, April 2nd. Arete assumed coverage on shares of Symbotic in a research report on Wednesday. They set a “buy” rating and a $50.00 target price for the company. Finally, Citigroup dropped their target price on shares of Symbotic from $37.00 to $29.00 and set a “buy” rating for the company in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.71.

Insider Activity

In related news, Director Daniela L. Rus sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $30.00, for a total value of $30,000.00. Following the transaction, the director now owns 27,435 shares of the company’s stock, valued at $823,050. This trade represents a 3.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael David Dunn sold 2,040 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.24, for a total transaction of $45,369.60. Following the completion of the transaction, the insider now directly owns 23,822 shares in the company, valued at $529,801.28. This represents a 7.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,656 shares of company stock valued at $1,220,907. 0.60% of the stock is currently owned by company insiders.

Symbotic Stock Up 6.4%

Symbotic stock opened at $37.16 on Friday. The company has a market cap of $21.91 billion, a price-to-earnings ratio of -929.00, a PEG ratio of 58.18 and a beta of 1.95. The firm’s fifty day moving average is $27.47 and its 200 day moving average is $25.61. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $41.76.

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

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.