Barclays PLC Buys 8,571 Shares of Symbotic Inc. (NASDAQ:SYM)

Barclays PLC boosted its stake in Symbotic Inc. (NASDAQ:SYM) by 1,105.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,346 shares of the company’s stock after purchasing an additional 8,571 shares during the period. Barclays PLC’s holdings in Symbotic were worth $228,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Castleview Partners LLC grew its position in shares of Symbotic by 50.0% during the 3rd 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 period. Quarry LP bought a new stake in shares of Symbotic during the 2nd quarter valued at $65,000. Arcadia Investment Management Corp MI bought a new stake in shares of Symbotic during the 3rd quarter valued at $49,000. RiverPark Advisors LLC grew its position in shares of Symbotic by 147.1% during the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after acquiring an additional 1,211 shares during the period. Finally, Quest Partners LLC grew its position in shares of Symbotic by 19,307.7% during the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after acquiring an additional 2,510 shares during the period.

Insider Transactions at Symbotic

In related news, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total transaction of $660,896.16. Following the sale, the chief financial officer now directly owns 34,188 shares of the company’s stock, valued at $990,084.48. This represents a 40.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Merline Saintil sold 5,250 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $28.70, for a total transaction of $150,675.00. Following the sale, the director now directly owns 74,562 shares in the company, valued at approximately $2,139,929.40. The trade was a 6.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,958 shares of company stock worth $3,690,570. 38.30% of the stock is currently owned by insiders.

Symbotic Trading Up 12.3 %

NASDAQ:SYM opened at $33.43 on Wednesday. The company’s 50-day moving average price is $27.85 and its 200-day moving average price is $27.39. The company has a market cap of $19.64 billion, a P/E ratio of -557.17, a P/E/G ratio of 6.88 and a beta of 1.76. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $52.20.

Symbotic (NASDAQ:SYM) last issued its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The company had revenue of $576.77 million for the quarter, compared to the consensus estimate of $470.24 million. During the same period in the previous year, the firm earned ($0.08) earnings per share. Symbotic’s quarterly revenue was up 47.2% compared to the same quarter last year. On average, analysts expect that Symbotic Inc. will post 0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SYM. UBS Group lowered their target price on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Needham & Company LLC restated a “buy” rating and set a $35.00 target price on shares of Symbotic in a research note on Friday, January 17th. William Blair restated a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Northland Securities lifted their target price on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group lowered their target price on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Symbotic presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.73.

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.