Blair William & Co. IL Buys 22,665 Shares of Symbotic Inc. (NASDAQ:SYM)

Blair William & Co. IL grew its stake in shares of Symbotic Inc. (NASDAQ:SYM) by 67.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,030 shares of the company’s stock after purchasing an additional 22,665 shares during the quarter. Blair William & Co. IL’s holdings in Symbotic were worth $1,970,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SYM. Baillie Gifford & Co. lifted its position in shares of Symbotic by 12.4% in the 2nd quarter. Baillie Gifford & Co. now owns 10,660,949 shares of the company’s stock worth $374,839,000 after purchasing an additional 1,177,578 shares during the period. Vanguard Group Inc. increased its stake in Symbotic by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after purchasing an additional 345,386 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in Symbotic by 189.5% in the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock worth $54,174,000 after buying an additional 690,900 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Symbotic by 8.4% in the second quarter. Raymond James & Associates now owns 668,103 shares of the company’s stock worth $23,491,000 after buying an additional 51,712 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Symbotic by 44.0% during the fourth quarter. First Trust Advisors LP now owns 510,237 shares of the company’s stock valued at $26,190,000 after buying an additional 155,828 shares during the last quarter.

Symbotic Stock Performance

Shares of Symbotic stock opened at $23.52 on Tuesday. The stock’s fifty day moving average is $25.29 and its 200 day moving average is $35.43. The stock has a market cap of $13.75 billion, a P/E ratio of -98.00 and a beta of 1.81. Symbotic Inc. has a one year low of $17.11 and a one year high of $59.82.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. The company had revenue of $491.86 million for the quarter, compared to the consensus estimate of $464.56 million. During the same quarter last year, the firm posted ($0.07) earnings per share. The company’s revenue was up 57.7% compared to the same quarter last year. Analysts predict that Symbotic Inc. will post -0.08 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. The Goldman Sachs Group lowered their price objective on Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their price target on Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Craig Hallum reduced their price objective on Symbotic from $54.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. BWS Financial restated a “sell” rating and set a $10.00 target price on shares of Symbotic in a research note on Tuesday, July 30th. Finally, TD Cowen reduced their price target on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.23.

Insider Transactions at Symbotic

In related news, insider Michael David Dunn sold 1,895 shares of Symbotic stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $36.56, for a total transaction of $69,281.20. Following the transaction, the insider now owns 77,326 shares in the company, valued at approximately $2,827,038.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Symbotic news, insider William M. Boyd III sold 8,826 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $38.71, for a total transaction of $341,654.46. Following the completion of the sale, the insider now directly owns 23,012 shares of the company’s stock, valued at approximately $890,794.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael David Dunn sold 1,895 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $36.56, for a total transaction of $69,281.20. Following the completion of the transaction, the insider now directly owns 77,326 shares in the company, valued at approximately $2,827,038.56. The disclosure for this sale can be found here. Insiders sold a total of 38,909 shares of company stock valued at $1,148,358 over the last three months. Corporate insiders own 38.30% of the company’s stock.

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.