Fieldview Capital Management LLC Takes Position in Symbotic Inc. $SYM

Fieldview Capital Management LLC purchased a new stake in Symbotic Inc. (NASDAQ:SYM) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 23,198 shares of the company’s stock, valued at approximately $1,380,000.

Other large investors have also modified their holdings of the company. MAI Capital Management lifted its stake in shares of Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after purchasing an additional 500 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Symbotic by 100.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock valued at $32,000 after purchasing an additional 268 shares during the last quarter. Quarry LP acquired a new position in shares of Symbotic in the 4th quarter valued at $36,000. Parallel Advisors LLC lifted its stake in shares of Symbotic by 67.3% in the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after purchasing an additional 249 shares during the last quarter. Finally, Ameriflex Group Inc. lifted its stake in shares of Symbotic by 1,500.0% in the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock valued at $38,000 after purchasing an additional 660 shares during the last quarter.

Symbotic Stock Performance

SYM opened at $41.63 on Monday. The stock’s 50-day moving average price is $52.90 and its 200 day moving average price is $57.26. Symbotic Inc. has a 12-month low of $27.26 and a 12-month high of $87.88. The firm has a market cap of $25.09 billion, a price-to-earnings ratio of -832.43, a PEG ratio of 6.14 and a beta of 1.92.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.11). Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The firm had revenue of $676.48 million for the quarter, compared to analyst estimates of $662.66 million. During the same period in the previous year, the company posted ($0.04) EPS. Symbotic’s revenue was up 23.1% on a year-over-year basis. On average, research analysts forecast that Symbotic Inc. will post 0.23 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on SYM. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. UBS Group set a $70.00 target price on Symbotic in a research note on Wednesday, February 18th. Weiss Ratings lowered Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Wall Street Zen lowered Symbotic from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, DA Davidson reissued a “buy” rating and set a $70.00 target price on shares of Symbotic in a research note on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.23.

Insider Activity

In other Symbotic news, SVP Brian Daniel Alexander sold 37,860 shares of the stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $59.97, for a total value of $2,270,464.20. Following the sale, the senior vice president owned 44,229 shares of the company’s stock, valued at $2,652,413.13. This trade represents a 46.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $59.82, for a total value of $1,180,188.78. Following the completion of the sale, the chief technology officer directly owned 179,255 shares in the company, valued at $10,723,034.10. This represents a 9.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 144,431 shares of company stock worth $8,141,204 in the last quarter. Insiders own 8.16% of the company’s stock.

Symbotic 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.