SG Americas Securities LLC Boosts Holdings in Symbotic Inc. $SYM

SG Americas Securities LLC lifted its position in shares of Symbotic Inc. (NASDAQ:SYM) by 405.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,956 shares of the company’s stock after purchasing an additional 59,331 shares during the period. SG Americas Securities LLC’s holdings in Symbotic were worth $3,986,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SYM. Allspring Global Investments Holdings LLC acquired a new position in Symbotic in the 3rd quarter worth $34,296,000. Geode Capital Management LLC lifted its stake in shares of Symbotic by 0.9% in the second quarter. Geode Capital Management LLC now owns 551,216 shares of the company’s stock worth $21,419,000 after acquiring an additional 4,892 shares in the last quarter. Amanah Holdings Trust purchased a new position in Symbotic in the second quarter valued at about $19,824,000. ARK Investment Management LLC boosted its holdings in Symbotic by 13.3% in the second quarter. ARK Investment Management LLC now owns 445,498 shares of the company’s stock valued at $17,308,000 after purchasing an additional 52,205 shares during the last quarter. Finally, Hood River Capital Management LLC grew its stake in Symbotic by 16.1% during the 2nd quarter. Hood River Capital Management LLC now owns 424,526 shares of the company’s stock valued at $16,493,000 after purchasing an additional 59,005 shares in the last quarter.

Insider Transactions at Symbotic

In other Symbotic news, Director Merline Saintil sold 9,000 shares of Symbotic stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $84.72, for a total value of $762,480.00. Following the completion of the transaction, the director directly owned 68,413 shares in the company, valued at $5,795,949.36. The trade was a 11.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder David A. Ladensohn sold 13,500 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $74.44, for a total value of $1,004,940.00. Following the transaction, the insider directly owned 2,000 shares of the company’s stock, valued at $148,880. This trade represents a 87.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,082,623 shares of company stock valued at $378,631,920 over the last ninety days. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Robert W. Baird upped their target price on Symbotic from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Symbotic in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Symbotic from a “sell” rating to a “hold” rating in a research note on Sunday, November 30th. DA Davidson reissued a “neutral” rating and set a $47.00 price objective on shares of Symbotic in a report on Tuesday, November 25th. Finally, Needham & Company LLC upped their target price on shares of Symbotic from $57.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the 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

Symbotic stock opened at $70.82 on Monday. Symbotic Inc. has a 12 month low of $16.32 and a 12 month high of $87.88. The company has a fifty day moving average price of $65.06 and a two-hundred day moving average price of $58.38. The company has a market cap of $41.89 billion, a PE ratio of -472.13, a P/E/G ratio of 20.09 and a beta of 2.13.

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

Symbotic 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.