Intergy Private Wealth LLC Makes New Investment in Symbotic Inc. (NASDAQ:SYM)

Intergy Private Wealth LLC purchased a new stake in shares of Symbotic Inc. (NASDAQ:SYM) during the fourth quarter, Holdings Channel reports. The fund purchased 13,094 shares of the company’s stock, valued at approximately $310,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYM. Castleview Partners LLC grew its position in shares of Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after buying an additional 500 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Symbotic in the third quarter worth approximately $49,000. RiverPark Advisors LLC boosted its holdings in Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after acquiring an additional 1,211 shares during the last quarter. Quest Partners LLC raised its holdings in Symbotic by 19,307.7% during the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after purchasing an additional 2,510 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Symbotic in the 2nd quarter worth approximately $65,000.

Insider Activity at Symbotic

In other news, CFO Carol J. Hibbard sold 22,821 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total transaction of $660,896.16. Following the completion of the transaction, the chief financial officer now directly owns 34,188 shares of the company’s stock, valued at $990,084.48. This represents a 40.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael David Dunn sold 3,635 shares of Symbotic stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $33.28, for a total transaction of $120,972.80. Following the completion of the sale, the insider now directly owns 24,272 shares in the company, valued at $807,772.16. This trade represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 112,802 shares of company stock valued at $3,361,487. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Oppenheimer began coverage on shares of Symbotic in a research report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a research report on Thursday, January 23rd. The Goldman Sachs Group cut their target price on Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 4th. Citigroup reissued a “buy” rating and issued a $37.00 price target on shares of Symbotic in a research note on Monday, January 13th. Finally, TD Cowen raised their price objective on shares of Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.73.

Symbotic Trading Up 1.9 %

NASDAQ SYM opened at $29.82 on Friday. The business has a fifty day simple moving average of $27.59 and a 200 day simple moving average of $27.16. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $52.20. The firm has a market capitalization of $17.52 billion, a P/E ratio of -497.00, a PEG ratio of 7.26 and a beta of 1.76.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The company had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. As a group, sell-side analysts predict that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

About Symbotic

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.