Sanctuary Advisors LLC Takes $1.03 Million Position in Symbotic Inc. (NASDAQ:SYM)

Sanctuary Advisors LLC purchased a new position in Symbotic Inc. (NASDAQ:SYM) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 42,197 shares of the company’s stock, valued at approximately $1,029,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. increased its position in shares of Symbotic by 32.0% in the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after purchasing an additional 3,410,050 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Symbotic by 191.5% in the second quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after buying an additional 509,700 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in Symbotic by 76.8% during the third quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock valued at $21,317,000 after buying an additional 379,726 shares in the last quarter. Millennium Management LLC lifted its holdings in Symbotic by 6,694.5% during the 2nd quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock worth $11,801,000 after buying an additional 330,709 shares during the last quarter. Finally, Thematics Asset Management grew its position in shares of 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 acquiring an additional 242,661 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SYM shares. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research report on Tuesday, November 19th. BWS Financial restated a “sell” rating and issued a $10.00 price target on shares of Symbotic in a research report on Tuesday, November 19th. 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 report on Tuesday, November 26th. William Blair reiterated a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group decreased their target price on Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.54.

Symbotic Stock Performance

Shares of SYM stock opened at $23.99 on Friday. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $57.16. The firm has a market capitalization of $14.09 billion, a PE ratio of -399.83 and a beta of 1.73. The stock has a fifty day moving average of $29.46 and a two-hundred day moving average of $28.84.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The company’s quarterly revenue was up 47.2% compared to the same quarter last year. Equities research analysts predict that Symbotic Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Michael David Dunn sold 5,266 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $23.81, for a total transaction of $125,383.46. Following the completion of the transaction, the insider now owns 85,224 shares of the company’s stock, valued at $2,029,183.44. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Carol J. Hibbard sold 22,821 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total transaction of $660,896.16. Following the completion of the sale, the chief financial officer now owns 34,188 shares in the company, valued at approximately $990,084.48. This trade represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,745 shares of company stock worth $3,261,675 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.