SG Americas Securities LLC Acquires New Holdings in Symbotic Inc. (NASDAQ:SYM)

SG Americas Securities LLC bought a new position in shares of Symbotic Inc. (NASDAQ:SYM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 23,585 shares of the company’s stock, valued at approximately $559,000.

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

Insiders Place Their Bets

In other Symbotic news, insider Michael David Dunn sold 3,635 shares of Symbotic stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $33.28, for a total value of $120,972.80. Following the sale, the insider now owns 24,272 shares of the company’s stock, valued at approximately $807,772.16. The trade was a 13.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $28.15, for a total transaction of $56,300.00. Following the completion of the transaction, the director now owns 214,036 shares in the company, valued at approximately $6,025,113.40. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,802 shares of company stock valued at $3,361,487. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SYM shares. Citigroup reiterated a “buy” rating and set a $37.00 price target on shares of Symbotic in a report on Monday, January 13th. The Goldman Sachs Group lowered their target price on Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, December 4th. William Blair reissued a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Oppenheimer started 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. Finally, TD Cowen boosted their target price on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Symbotic presently has an average rating of “Moderate Buy” and an average target price of $38.73.

Symbotic Stock Down 1.6 %

SYM stock opened at $29.35 on Friday. The firm has a market capitalization of $17.24 billion, a PE ratio of -489.17, a P/E/G ratio of 7.26 and a beta of 1.76. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $52.20. The stock’s 50 day moving average is $27.46 and its 200-day moving average is $27.18.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The business’s revenue was up 47.2% on a year-over-year basis. During the same period last year, the business earned ($0.08) EPS. On average, equities research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share 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.