Robocap Asset Management Ltd Takes $1.37 Million Position in Symbotic Inc. (NASDAQ:SYM)

Robocap Asset Management Ltd acquired a new position in shares of Symbotic Inc. (NASDAQ:SYM) in the fourth quarter, Holdings Channel reports. The firm acquired 57,680 shares of the company’s stock, valued at approximately $1,368,000. Symbotic accounts for about 0.9% of Robocap Asset Management Ltd’s holdings, making the stock its 25th largest holding.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Symbotic by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock valued at $12,290,000 after purchasing an additional 46,721 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Symbotic in the third quarter worth about $1,029,000. Capital Market Strategies LLC purchased a new stake in shares of Symbotic during the fourth quarter worth about $802,000. Baillie Gifford & Co. increased its holdings in shares of Symbotic by 32.0% during the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after acquiring an additional 3,410,050 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Symbotic by 10.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock worth $5,343,000 after purchasing an additional 20,469 shares in the last quarter.

Symbotic Stock Up 1.5 %

NASDAQ SYM opened at $26.37 on Friday. The stock has a 50-day moving average of $27.15 and a 200 day moving average of $26.82. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $50.40.

Symbotic (NASDAQ:SYM) last announced its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. Analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SYM. Oppenheimer initiated coverage on shares of Symbotic in a research note on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price target on the stock. Needham & Company LLC reduced their target price on Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday. TD Cowen boosted their price target on Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. William Blair restated a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Finally, UBS Group dropped their target price on Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $38.33.

Insider Activity

In related news, CFO Carol J. Hibbard sold 4,055 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total transaction of $124,488.50. Following the transaction, the chief financial officer now directly owns 44,386 shares in the company, valued at approximately $1,362,650.20. The trade was a 8.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael David Dunn sold 63,867 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $30.08, for a total value of $1,921,119.36. Following the completion of the sale, the insider now owns 24,055 shares of the company’s stock, valued at $723,574.40. This trade represents a 72.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,007 shares of company stock worth $2,827,909 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

Symbotic Company 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.