PNC Financial Services Group Inc. Has $91,000 Stake in Symbotic Inc. (NASDAQ:SYM)

PNC Financial Services Group Inc. increased its position in shares of Symbotic Inc. (NASDAQ:SYM) by 146.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,832 shares of the company’s stock after purchasing an additional 2,275 shares during the period. PNC Financial Services Group Inc.’s holdings in Symbotic were worth $91,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SYM. Quest Partners LLC increased its position in Symbotic by 19,307.7% during the 3rd 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 period. Advisors Asset Management Inc. grew its stake in shares of Symbotic by 30.6% in the third quarter. Advisors Asset Management Inc. now owns 10,869 shares of the company’s stock valued at $265,000 after acquiring an additional 2,544 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Symbotic by 10.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock worth $5,343,000 after acquiring an additional 20,469 shares during the period. Thematics Asset Management raised its stake in Symbotic by 30.1% in the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock worth $25,565,000 after purchasing an additional 242,661 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in Symbotic by 33.8% in the 3rd quarter. Verition Fund Management LLC now owns 33,129 shares of the company’s stock valued at $808,000 after purchasing an additional 8,362 shares during the period.

Insider Activity

In other news, CFO Carol J. Hibbard sold 4,055 shares of Symbotic stock in a transaction on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William M. Boyd III sold 2,455 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $22.31, for a total value of $54,771.05. Following the completion of the sale, the insider now owns 39,659 shares of the company’s stock, valued at $884,792.29. The trade was a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,442 shares of company stock valued at $2,120,023. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SYM shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a research report on Thursday, February 6th. The Goldman Sachs Group dropped their price objective on Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. UBS Group reduced their target price on Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Citigroup restated a “buy” rating and issued a $37.00 price target on shares of Symbotic in a research report on Monday, January 13th. Finally, Raymond James cut shares of Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Symbotic has an average rating of “Hold” and a consensus target price of $38.20.

Symbotic Price Performance

Shares of Symbotic stock opened at $23.38 on Wednesday. The company’s 50 day moving average price is $26.02 and its two-hundred day moving average price is $26.68. The firm has a market capitalization of $13.76 billion, a P/E ratio of -333.95, a P/E/G ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $50.26.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. On average, analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

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.