DDD Partners LLC Trims Stock Position in Symbotic Inc. $SYM

DDD Partners LLC trimmed its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 10.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,611 shares of the company’s stock after selling 11,468 shares during the period. DDD Partners LLC’s holdings in Symbotic were worth $5,585,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. increased its position in Symbotic by 10.4% during the third quarter. Advisors Asset Management Inc. now owns 56,224 shares of the company’s stock worth $3,030,000 after buying an additional 5,287 shares in the last quarter. Versor Investments LP acquired a new stake in shares of Symbotic during the third quarter valued at $562,000. Centerpoint Advisors LLC increased its position in Symbotic by 16.7% during the 3rd quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock worth $75,000 after purchasing an additional 200 shares in the last quarter. Gables Capital Management Inc. raised its stake in Symbotic by 100.0% in the 3rd quarter. Gables Capital Management Inc. now owns 2,000 shares of the company’s stock valued at $108,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Wellington Shields Capital Management LLC purchased a new position in Symbotic in the 3rd quarter valued at about $193,000.

Insider Buying and Selling at Symbotic

In other news, insider William M. Boyd III sold 15,000 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $53.73, for a total transaction of $214,920.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 7,205,878 shares of company stock worth $385,220,890. 8.16% of the stock is owned by insiders.

Symbotic Stock Up 0.4%

Shares of SYM opened at $54.95 on Friday. Symbotic Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $87.88. The company’s fifty day moving average is $61.37 and its two-hundred day moving average is $60.50. The firm has a market cap of $32.50 billion, a PE ratio of -549.45, a price-to-earnings-growth ratio of 7.29 and a beta of 2.13.

Symbotic (NASDAQ:SYM) last issued its earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The firm had revenue of $629.99 million for the quarter, compared to analysts’ expectations of $622.58 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The firm’s revenue for the quarter was up 29.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SYM shares. Citigroup reiterated an “outperform” rating on shares of Symbotic in a report on Thursday, February 5th. Zacks Research cut shares of Symbotic from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Barclays increased their price target on Symbotic from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Monday, January 12th. DA Davidson raised their price objective on Symbotic from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday. Finally, TD Cowen reiterated a “buy” rating on shares of Symbotic in a research note on Wednesday, December 3rd. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, Symbotic currently has an average rating of “Hold” and a consensus price target of $58.07.

About Symbotic

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.