44,539 Shares in Symbotic Inc. (NASDAQ:SYM) Bought by Bouvel Investment Partners LLC

Bouvel Investment Partners LLC acquired a new stake in Symbotic Inc. (NASDAQ:SYM) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 44,539 shares of the company’s stock, valued at approximately $1,056,000.

Several other large investors have also recently made changes to their positions in SYM. Castleview Partners LLC increased its position in Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after buying an additional 500 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Symbotic by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock worth $304,000 after buying an additional 679 shares in the last quarter. Van ECK Associates Corp boosted its stake in Symbotic by 28.4% during the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock valued at $85,000 after buying an additional 774 shares during the period. National Bank of Canada FI grew its position in Symbotic by 36.8% during the third quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock worth $87,000 after buying an additional 957 shares in the last quarter. Finally, RiverPark Advisors LLC raised its holdings in shares of Symbotic by 147.1% in the 3rd 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 in the last quarter.

Insider Buying and Selling

In other Symbotic news, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total value of $660,896.16. Following the transaction, the chief financial officer now directly owns 34,188 shares in the company, valued at $990,084.48. This represents a 40.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William M. Boyd III sold 8,826 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $28.33, for a total transaction of $250,040.58. Following the completion of the sale, the insider now owns 23,012 shares of the company’s stock, valued at approximately $651,929.96. This represents a 27.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 111,844 shares of company stock valued at $3,268,431. Insiders own 38.30% of the company’s stock.

Symbotic Stock Performance

SYM stock opened at $31.82 on Friday. The company has a market capitalization of $18.69 billion, a PE ratio of -530.33 and a beta of 1.76. The company’s fifty day moving average price is $28.04 and its 200-day moving average price is $27.59. Symbotic Inc. has a one year low of $17.11 and a one year high of $52.20.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The business had revenue of $576.77 million during the quarter, compared to analyst estimates of $470.24 million. During the same period last year, the company earned ($0.08) EPS. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. On average, research analysts predict that Symbotic Inc. will post 0.12 EPS for the current fiscal year.

Analyst Ratings Changes

SYM has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their target price on Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 4th. Craig Hallum cut Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research note on Wednesday, November 27th. KeyCorp restated a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. Oppenheimer initiated coverage on shares of Symbotic in a research report on Wednesday. They set an “outperform” rating and a $35.00 price target for the company. Finally, UBS Group decreased their price objective on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $39.53.

Symbotic Profile

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.