14,809 Shares in Symbotic Inc. $SYM Bought by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. bought a new position in Symbotic Inc. (NASDAQ:SYM) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 14,809 shares of the company’s stock, valued at approximately $788,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust boosted its holdings in shares of Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock valued at $32,000 after acquiring an additional 268 shares during the period. Quarry LP acquired a new stake in shares of Symbotic in the 4th quarter worth about $36,000. Parallel Advisors LLC increased its holdings in shares of Symbotic by 67.3% in the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after acquiring an additional 249 shares during the period. Gordian Capital Singapore Pte Ltd bought a new stake in Symbotic in the 4th quarter valued at about $48,000. Finally, NewEdge Advisors LLC lifted its position in Symbotic by 81.5% in the 2nd quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock valued at $50,000 after purchasing an additional 573 shares during the last quarter.

Insider Activity

In other Symbotic news, insider Maria G. Freve sold 2,335 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $60.08, for a total value of $140,286.80. Following the sale, the insider directly owned 3,004 shares in the company, valued at approximately $180,480.32. The trade was a 43.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO James Kuffner sold 19,729 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $59.82, for a total transaction of $1,180,188.78. Following the completion of the sale, the chief technology officer owned 179,255 shares in the company, valued at approximately $10,723,034.10. This trade represents a 9.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 147,798 shares of company stock valued at $8,221,095 over the last quarter. Insiders own 8.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SYM. Zacks Research lowered shares of Symbotic from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Weiss Ratings cut Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. The Goldman Sachs Group reduced their price objective on Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a research report on Tuesday, May 26th. Finally, DA Davidson reissued a “buy” rating and issued a $70.00 price objective on shares of Symbotic in a report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.23.

Symbotic Stock Performance

Shares of NASDAQ SYM opened at $41.25 on Friday. Symbotic Inc. has a 1 year low of $38.19 and a 1 year high of $87.88. The firm has a market cap of $24.86 billion, a P/E ratio of -824.84, a PEG ratio of 6.19 and a beta of 1.93. The stock has a fifty day moving average price of $45.07 and a two-hundred day moving average price of $53.17.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). The firm had revenue of $676.48 million during the quarter, compared to the consensus estimate of $662.65 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) EPS. On average, research analysts predict that Symbotic Inc. will post 0.23 earnings per share for the current fiscal year.

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.