14,297 Shares in Symbotic Inc. $SYM Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. purchased a new stake in shares of Symbotic Inc. (NASDAQ:SYM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,297 shares of the company’s stock, valued at approximately $771,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Symbotic during the 3rd quarter worth about $34,296,000. Geode Capital Management LLC raised its holdings in Symbotic by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 551,216 shares of the company’s stock worth $21,419,000 after purchasing an additional 4,892 shares during the period. Hood River Capital Management LLC boosted its position in Symbotic by 16.1% during the second quarter. Hood River Capital Management LLC now owns 424,526 shares of the company’s stock worth $16,493,000 after purchasing an additional 59,005 shares in the last quarter. Invesco Ltd. grew its holdings in Symbotic by 33.2% in the second quarter. Invesco Ltd. now owns 304,207 shares of the company’s stock valued at $11,818,000 after purchasing an additional 75,828 shares during the period. Finally, Ensign Peak Advisors Inc grew its holdings in Symbotic by 12.7% in the second quarter. Ensign Peak Advisors Inc now owns 223,141 shares of the company’s stock valued at $8,669,000 after purchasing an additional 25,136 shares during the period.

Symbotic Stock Up 2.6%

Symbotic stock opened at $54.04 on Thursday. The company has a fifty day simple moving average of $60.03 and a 200-day simple moving average of $60.57. The firm has a market capitalization of $32.54 billion, a price-to-earnings ratio of -540.35, a PEG ratio of 5.28 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 posted its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.06). Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The business had revenue of $629.99 million during the quarter, compared to analysts’ expectations of $622.58 million. During the same period in the prior year, the business posted ($0.03) earnings per share. The business’s quarterly revenue was up 29.4% on a year-over-year basis. On average, research analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling at Symbotic

In other news, Director Rollin L. Ford sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $57.51, for a total value of $3,450,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James Kuffner sold 77,321 shares of Symbotic stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $59.76, for a total value of $4,620,702.96. Following the transaction, the chief technology officer owned 144,982 shares in the company, valued at approximately $8,664,124.32. The trade was a 34.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 7,186,533 shares of company stock worth $383,607,335. 8.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SYM has been the subject of several research analyst reports. Wall Street Zen downgraded Symbotic from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a research report on Tuesday, November 25th. TD Cowen reaffirmed a “buy” rating on shares of Symbotic in a report on Wednesday, December 3rd. Robert W. Baird boosted their target price on shares of Symbotic from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Symbotic in a research report on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Symbotic has a consensus rating of “Hold” and a consensus target price of $60.57.

About Symbotic

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.