Bosun Asset Management LLC Makes New $729,000 Investment in Symbotic Inc. $SYM

Bosun Asset Management LLC bought a new position in Symbotic Inc. (NASDAQ:SYM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,752 shares of the company’s stock, valued at approximately $729,000.

A number of other hedge funds also recently added to or reduced their stakes in SYM. Cetera Investment Advisers lifted its position in Symbotic by 150.5% in the 1st quarter. Cetera Investment Advisers now owns 61,674 shares of the company’s stock valued at $1,246,000 after purchasing an additional 37,053 shares during the last quarter. LPL Financial LLC boosted its stake in Symbotic by 58.8% during the 1st quarter. LPL Financial LLC now owns 68,531 shares of the company’s stock valued at $1,385,000 after purchasing an additional 25,364 shares in the last quarter. XTX Topco Ltd bought a new position in Symbotic during the first quarter valued at about $324,000. PNC Financial Services Group Inc. grew its stake in shares of Symbotic by 54.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,932 shares of the company’s stock worth $120,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new position in Symbotic in the first quarter worth approximately $716,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a research note on Tuesday, November 25th. Northland Securities raised their price target on Symbotic from $56.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Wall Street Zen upgraded shares of Symbotic from a “sell” rating to a “hold” rating in a report on Sunday, November 30th. Robert W. Baird upped their target price on Symbotic from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Finally, Cantor Fitzgerald upped their price target on shares of Symbotic from $60.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.50.

Symbotic Price Performance

Shares of SYM stock opened at $59.70 on Friday. The stock’s fifty day simple moving average is $68.08 and its 200 day simple moving average is $52.66. Symbotic Inc. has a one year low of $16.32 and a one year high of $87.88. The firm has a market cap of $35.31 billion, a price-to-earnings ratio of -398.00, a P/E/G ratio of 16.94 and a beta of 2.10.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm had revenue of $618.46 million for the quarter, compared to the consensus estimate of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 earnings per share. On average, research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current year.

Insider Buying and Selling

In other news, insider William M. Boyd III sold 11,735 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $82.09, for a total value of $963,326.15. Following the completion of the sale, the insider directly owned 26,769 shares in the company, valued at approximately $2,197,467.21. This trade represents a 30.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Todd Krasnow sold 4,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $71.00, for a total transaction of $284,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 85,508 shares of company stock valued at $6,304,555 in the last 90 days. 0.60% of the stock is owned by corporate insiders.

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.