Allspring Global Investments Holdings LLC Acquires 136,111 Shares of Symbotic Inc. $SYM

Allspring Global Investments Holdings LLC increased its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 23.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 726,411 shares of the company’s stock after purchasing an additional 136,111 shares during the period. Allspring Global Investments Holdings LLC owned 0.12% of Symbotic worth $47,122,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Symbotic by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,695,021 shares of the company’s stock valued at $253,062,000 after acquiring an additional 98,384 shares in the last quarter. UBS Group AG raised its position in shares of Symbotic by 22.3% in the 3rd quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock worth $59,601,000 after acquiring an additional 201,547 shares in the last quarter. ARK Investment Management LLC raised its position in shares of Symbotic by 32.4% in the 3rd quarter. ARK Investment Management LLC now owns 589,887 shares of the company’s stock worth $31,795,000 after acquiring an additional 144,389 shares in the last quarter. Hood River Capital Management LLC lifted its stake in shares of Symbotic by 16.1% during the 2nd 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 during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Symbotic by 25.6% during the 3rd quarter. First Trust Advisors LP now owns 351,021 shares of the company’s stock worth $18,920,000 after purchasing an additional 71,531 shares during the last quarter.

Symbotic Stock Performance

Shares of NASDAQ SYM opened at $54.82 on Thursday. Symbotic Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $87.88. The company has a market cap of $33.01 billion, a PE ratio of -548.15, a P/E/G ratio of 5.33 and a beta of 2.10. The business has a 50-day simple moving average of $54.34 and a two-hundred day simple moving average of $61.13.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.06). The company had revenue of $629.99 million during the quarter, compared to analysts’ expectations of $622.58 million. Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) earnings per share. On average, sell-side analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Citigroup reiterated an “outperform” rating on shares of Symbotic in a research note on Thursday, February 5th. Wall Street Zen lowered shares of Symbotic from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. DA Davidson raised their price target on shares of Symbotic from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, February 9th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $50.00 price objective on shares of Symbotic in a research report on Thursday, January 15th. Finally, TD Cowen reiterated a “buy” rating on shares of Symbotic in a research note on Wednesday, December 3rd. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Symbotic currently has a consensus rating of “Hold” and a consensus price target of $64.62.

Insiders Place Their Bets

In other Symbotic news, insider William M. Boyd III sold 15,000 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $53.73, for a total transaction of $214,920.00. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 193,492 shares of company stock valued at $11,449,123. Corporate insiders own 8.16% 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.