LGL Partners LLC Acquires New Position in Symbotic Inc. $SYM

LGL Partners LLC acquired a new stake in shares of Symbotic Inc. (NASDAQ:SYM) during the fourth quarter, HoldingsChannel reports. The fund acquired 10,000 shares of the company’s stock, valued at approximately $595,000.

Other large investors also recently modified their holdings of the company. MAI Capital Management raised its holdings in shares of Symbotic by 833.3% during the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after buying an additional 500 shares in the last quarter. Ameriflex Group Inc. raised its holdings in shares of Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock valued at $38,000 after buying an additional 660 shares in the last quarter. Strategic Advocates LLC purchased a new position in shares of Symbotic during the 3rd quarter valued at about $42,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Symbotic during the 4th quarter valued at about $55,000. Finally, Fifth Third Bancorp raised its holdings in shares of Symbotic by 20,000.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,005 shares of the company’s stock valued at $54,000 after buying an additional 1,000 shares in the last quarter.

Symbotic Stock Performance

Shares of SYM stock opened at $54.03 on Tuesday. The firm has a market cap of $32.56 billion, a P/E ratio of -1,080.38, a P/E/G ratio of 7.97 and a beta of 2.03. Symbotic Inc. has a fifty-two week low of $27.26 and a fifty-two week high of $87.88. The business’s 50 day moving average price is $54.29 and its 200-day moving average price is $58.76.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). The business had revenue of $676.48 million during the quarter, compared to the consensus estimate of $662.66 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.Symbotic’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.04) earnings per share. As a group, equities analysts predict that Symbotic Inc. will post 0.23 EPS for the current year.

Insider Transactions at Symbotic

In related news, Director Todd Krasnow sold 25,422 shares of Symbotic stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $52.45, for a total transaction of $1,333,383.90. Following the sale, the director directly owned 182,036 shares in the company, valued at $9,547,788.20. The trade was a 12.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William M. Boyd III sold 9,194 shares of Symbotic stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $58.75, for a total value of $540,147.50. Following the sale, the insider owned 62,227 shares in the company, valued at $3,655,836.25. This represents a 12.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 123,003 shares of company stock worth $6,996,241. Corporate insiders own 8.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Needham & Company LLC raised their price objective on Symbotic from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 5th. DA Davidson reissued a “buy” rating and set a $70.00 price objective on shares of Symbotic in a report on Monday, May 11th. Citigroup reissued an “outperform” rating on shares of Symbotic in a report on Thursday, February 5th. Barclays raised their price objective on Symbotic from $42.00 to $44.00 and gave the company an “underweight” rating in a report on Monday, March 16th. Finally, Weiss Ratings lowered Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Symbotic presently has an average rating of “Hold” and a consensus target price of $65.62.

Symbotic Company Profile

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.