Swiss National Bank Acquires 1,900 Shares of Symbotic Inc. (NASDAQ:SYM)

Swiss National Bank increased its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,700 shares of the company’s stock after buying an additional 1,900 shares during the period. Swiss National Bank’s holdings in Symbotic were worth $1,937,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quest Partners LLC increased its holdings in Symbotic by 19,307.7% in the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after purchasing an additional 2,510 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Symbotic by 30.6% in the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Symbotic by 10.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock valued at $5,343,000 after acquiring an additional 20,469 shares during the period. Verition Fund Management LLC boosted its stake in Symbotic by 33.8% during the 3rd quarter. Verition Fund Management LLC now owns 33,129 shares of the company’s stock worth $808,000 after acquiring an additional 8,362 shares during the last quarter. Finally, Arete Wealth Advisors LLC bought a new stake in Symbotic in the third quarter valued at approximately $311,000.

Insider Activity at Symbotic

In related news, insider Michael David Dunn sold 5,365 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $24.60, for a total value of $131,979.00. Following the sale, the insider now directly owns 31,860 shares of the company’s stock, valued at $783,756. This trade represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 transaction, the insider now directly owns 39,659 shares in the company, valued at approximately $884,792.29. This represents a 5.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,442 shares of company stock worth $2,120,023. Insiders own 0.60% of the company’s stock.

Symbotic Stock Performance

Symbotic stock opened at $20.16 on Friday. The stock has a market capitalization of $11.86 billion, a price-to-earnings ratio of -287.96, a PEG ratio of 6.48 and a beta of 1.85. The stock’s 50 day moving average price is $25.53 and its two-hundred day moving average price is $26.62. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $48.98.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on SYM shares. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, January 8th. Raymond James lowered Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. The Goldman Sachs Group reduced their price target on Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. UBS Group cut their price objective on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Finally, Citigroup reaffirmed a “buy” rating and issued a $37.00 target price on shares of Symbotic in a research report on Monday, January 13th. One investment 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. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $38.20.

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.