Charles Schwab Investment Management Inc. Grows Stock Position in Symbotic Inc. (NASDAQ:SYM)

Charles Schwab Investment Management Inc. grew its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 230,996 shares of the company’s stock after purchasing an additional 11,922 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Symbotic were worth $5,477,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SYM. Alberta Investment Management Corp purchased a new stake in Symbotic during the 4th quarter valued at about $586,000. Geode Capital Management LLC boosted 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 worth $12,290,000 after purchasing an additional 46,721 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Symbotic in the third quarter valued at approximately $1,029,000. Capital Market Strategies LLC acquired a new stake in shares of Symbotic in the fourth quarter valued at approximately $802,000. Finally, Hodges Capital Management Inc. lifted its position in Symbotic by 7.9% during the fourth quarter. Hodges Capital Management Inc. now owns 273,841 shares of the company’s stock worth $6,492,000 after buying an additional 20,111 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SYM. Raymond James cut Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. Needham & Company LLC dropped their price objective on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Symbotic in a research note on Wednesday, November 27th. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, January 8th. Finally, TD Cowen lifted their price target 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 analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Symbotic currently has an average rating of “Hold” and a consensus price target of $38.20.

Insider Buying and Selling at Symbotic

In other Symbotic news, insider William M. Boyd III sold 2,660 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $27.60, for a total transaction of $73,416.00. Following the completion of the transaction, the insider now owns 40,812 shares in the company, valued at $1,126,411.20. The trade was a 6.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rollin L. Ford sold 28,740 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $26.02, for a total transaction of $747,814.80. Following the completion of the sale, the director now owns 10,447 shares in the company, valued at $271,830.94. The trade was a 73.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,442 shares of company stock valued at $2,120,023 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

Symbotic Price Performance

Shares of NASDAQ:SYM opened at $23.38 on Wednesday. The firm’s 50-day moving average is $26.02 and its two-hundred day moving average is $26.68. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $50.26. The firm has a market capitalization of $13.76 billion, a PE ratio of -333.95, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85.

Symbotic (NASDAQ:SYM) last announced its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. Analysts expect 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.