121,495 Shares in Symbotic Inc. $SYM Acquired by Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna purchased a new stake in Symbotic Inc. (NASDAQ:SYM) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 121,495 shares of the company’s stock, valued at approximately $4,720,000. Symbotic accounts for approximately 1.9% of Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna’s holdings, making the stock its 12th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC purchased a new stake in shares of Symbotic during the 2nd quarter worth approximately $32,000. AdvisorNet Financial Inc acquired a new stake in Symbotic during the 2nd quarter worth $32,000. Gables Capital Management Inc. acquired a new stake in Symbotic during the 2nd quarter worth $39,000. KBC Group NV purchased a new stake in Symbotic in the second quarter valued at $66,000. Finally, Farther Finance Advisors LLC boosted its stake in Symbotic by 24.0% in the second quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company’s stock valued at $69,000 after acquiring an additional 342 shares in the last quarter.

Symbotic Stock Up 1.3%

SYM opened at $60.48 on Tuesday. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $87.88. The business has a 50 day moving average price of $68.22 and a two-hundred day moving average price of $53.06. The company has a market cap of $35.78 billion, a PE ratio of -403.20, a P/E/G ratio of 16.94 and a beta of 2.10.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The company had revenue of $618.46 million during the quarter, compared to analyst estimates of $604.00 million. During the same period in the previous year, the firm posted $0.47 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Insider Activity at Symbotic

In related news, major shareholder Group Corp. Softbank sold 3,500,000 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $53.21, for a total transaction of $186,235,000.00. Following the completion of the transaction, the insider directly owned 5,590,000 shares of the company’s stock, valued at $297,443,900. This represents a 38.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Svf Sponsor Iii (De) Llc sold 3,500,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $53.21, for a total transaction of $186,235,000.00. Following the completion of the sale, the insider owned 5,590,000 shares of the company’s stock, valued at approximately $297,443,900. The trade was a 38.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,085,508 shares of company stock worth $378,774,555 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYM. Weiss Ratings reiterated a “hold (c-)” rating on shares of Symbotic in a research report on Wednesday, October 8th. Northland Securities raised their price target on Symbotic from $56.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Oppenheimer reiterated an “outperform” rating and issued a $83.00 price objective on shares of Symbotic in a research note on Tuesday, November 25th. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Finally, Needham & Company LLC lifted their target price on shares of Symbotic from $57.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Symbotic currently has a consensus rating of “Hold” and an average price target of $56.50.

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.