Barton Investment Management Takes $1.64 Million Position in Symbotic Inc. $SYM

Barton Investment Management acquired a new position in shares of Symbotic Inc. (NASDAQ:SYM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,425 shares of the company’s stock, valued at approximately $1,640,000. Symbotic makes up about 0.2% of Barton Investment Management’s investment portfolio, making the stock its 28th biggest position.

Other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Symbotic by 16.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,343,902 shares of the company’s stock valued at $27,155,000 after purchasing an additional 187,538 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Symbotic in the 3rd quarter worth $34,296,000. Geode Capital Management LLC raised its position in shares of Symbotic by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 551,216 shares of the company’s stock valued at $21,419,000 after buying an additional 4,892 shares in the last quarter. Amanah Holdings Trust bought a new stake in shares of Symbotic during the 2nd quarter worth $19,824,000. Finally, S Squared Technology LLC lifted its holdings in shares of Symbotic by 6.7% during the 1st quarter. S Squared Technology LLC now owns 480,000 shares of the company’s stock worth $9,701,000 after acquiring an additional 30,000 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SYM. Cowen restated a “buy” rating on shares of Symbotic in a research report on Wednesday, December 3rd. The Goldman Sachs Group cut Symbotic from a “neutral” rating to a “sell” rating and set a $47.00 price objective on the stock. in a report on Tuesday, December 2nd. Needham & Company LLC boosted their target price on Symbotic from $57.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Oppenheimer reiterated an “outperform” rating and set a $83.00 price target on shares of Symbotic in a research report on Tuesday, November 25th. Finally, Citigroup lifted their price target on shares of Symbotic from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.50.

Symbotic Price Performance

SYM opened at $64.87 on Friday. The stock’s 50 day simple moving average is $65.56 and its 200 day simple moving average is $56.78. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $87.88. The firm has a market cap of $38.37 billion, a price-to-earnings ratio of -432.47, a PEG ratio of 16.88 and a beta of 2.13.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, November 24th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). The company had revenue of $618.46 million during 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 business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 EPS. As a group, sell-side analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current year.

Insider Activity at Symbotic

In other news, insider William M. Boyd III sold 2,455 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $60.51, for a total transaction of $148,552.05. Following the completion of the transaction, the insider directly owned 24,314 shares of the company’s stock, valued at approximately $1,471,240.14. This represents a 9.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Svf Sponsor Iii (De) Llc sold 3,500,000 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $53.21, for a total transaction of $186,235,000.00. Following the sale, the insider owned 5,590,000 shares of the company’s stock, valued at approximately $297,443,900. This represents a 38.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,085,508 shares of company stock worth $378,798,933 over the last ninety days. Insiders own 0.60% of the company’s stock.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.