Arta Finance Wealth Management LLC Takes Position in Symbotic Inc. $SYM

Arta Finance Wealth Management LLC purchased a new position in Symbotic Inc. (NASDAQ:SYM) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 18,945 shares of the company’s stock, valued at approximately $1,127,000.

A number of other hedge funds also recently bought and sold shares of SYM. Allspring Global Investments Holdings LLC bought a new stake in Symbotic during the 3rd quarter valued at about $34,296,000. Franklin Resources Inc. lifted its stake in shares of Symbotic by 3,188.8% in the third quarter. Franklin Resources Inc. now owns 274,155 shares of the company’s stock worth $14,777,000 after buying an additional 265,819 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Symbotic by 626.4% during the third quarter. Handelsbanken Fonder AB now owns 274,178 shares of the company’s stock valued at $14,778,000 after buying an additional 236,435 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Symbotic during the third quarter valued at approximately $12,377,000. Finally, UBS Group AG increased its position in shares of Symbotic by 22.3% during the third quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock valued at $59,601,000 after acquiring an additional 201,547 shares in the last quarter.

Insiders Place Their Bets

In related news, Director Rollin L. Ford sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $57.51, for a total transaction of $3,450,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Todd Krasnow sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $68.63, for a total transaction of $274,520.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 195,492 shares of company stock valued at $11,516,194. 8.16% of the stock is currently owned by company insiders.

Symbotic Price Performance

Shares of Symbotic stock opened at $53.37 on Friday. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $87.88. The company’s 50 day moving average is $53.96 and its 200 day moving average is $61.15. The company has a market cap of $32.14 billion, a price-to-earnings ratio of -533.65, a price-to-earnings-growth ratio of 5.35 and a beta of 2.10.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $629.99 million during the quarter, compared to the consensus estimate of $622.58 million. During the same period last year, the firm posted ($0.03) EPS. The company’s revenue for the quarter was up 29.4% on a year-over-year basis. Sell-side analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on SYM. Barclays boosted their price objective on shares of Symbotic from $42.00 to $44.00 and gave the stock an “underweight” rating in a report on Monday, March 16th. Wall Street Zen lowered Symbotic from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Citigroup restated an “outperform” rating on shares of Symbotic in a research note on Thursday, February 5th. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $50.00 price objective on shares of Symbotic in a research report on Thursday, January 15th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.62.

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.