Grove Street Fiduciary LLC Acquires 26,555 Shares of Symbotic Inc. $SYM

Grove Street Fiduciary LLC lifted its holdings in Symbotic Inc. (NASDAQ:SYM) by 314.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,000 shares of the company’s stock after purchasing an additional 26,555 shares during the period. Symbotic accounts for about 0.9% of Grove Street Fiduciary LLC’s investment portfolio, making the stock its 23rd biggest holding. Grove Street Fiduciary LLC’s holdings in Symbotic were worth $1,886,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SYM. IAG Wealth Partners LLC bought a new position in Symbotic during the second quarter valued at about $32,000. AdvisorNet Financial Inc acquired a new position in shares of Symbotic during the 2nd quarter valued at about $32,000. Gables Capital Management Inc. bought a new position in shares of Symbotic in the 2nd quarter valued at approximately $39,000. NewEdge Advisors LLC raised its stake in shares of Symbotic by 81.5% in the 2nd quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock valued at $50,000 after acquiring an additional 573 shares in the last quarter. Finally, KBC Group NV acquired a new stake in Symbotic in the 2nd quarter worth approximately $66,000.

Analyst Ratings Changes

SYM has been the topic of several analyst reports. TD Cowen reiterated a “buy” rating on shares of Symbotic in a report on Wednesday, December 3rd. Northland Securities boosted their price objective on shares of Symbotic from $56.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. DA Davidson reiterated a “neutral” rating and issued a $47.00 target price on shares of Symbotic in a research note on Tuesday, November 25th. The Goldman Sachs Group reiterated a “sell” rating and issued a $50.00 target price on shares of Symbotic in a report on Thursday, January 15th. Finally, Northcoast Research lowered shares of Symbotic from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 25th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Symbotic currently has a consensus rating of “Hold” and an average target price of $56.79.

Insider Activity at Symbotic

In other news, insider William M. Boyd III sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Group Corp. Softbank sold 3,500,000 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $53.21, for a total value of $186,235,000.00. Following the completion of the transaction, the insider directly owned 5,590,000 shares of the company’s stock, valued at approximately $297,443,900. This trade represents a 38.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,065,981 shares of company stock worth $377,394,265 in the last three months. Company insiders own 8.16% of the company’s stock.

Symbotic Stock Performance

NASDAQ:SYM opened at $62.08 on Monday. The firm’s 50-day moving average is $64.46 and its 200-day moving average is $60.01. The company has a market cap of $36.72 billion, a price-to-earnings ratio of -413.87, a PEG ratio of 17.61 and a beta of 2.13. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $87.88.

Symbotic (NASDAQ:SYM) last released 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). The firm had revenue of $618.46 million for the quarter, compared to analyst estimates of $604.00 million. Symbotic had a negative return on equity of 3.89% and a negative net margin of 0.75%.The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business earned $0.47 earnings per share. Equities analysts predict that Symbotic Inc. will post 0.13 EPS 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.