Ulland Investment Advisors LLC Makes New $31,000 Investment in Symbotic Inc. (NASDAQ:SYM)

Ulland Investment Advisors LLC bought a new stake in shares of Symbotic Inc. (NASDAQ:SYM) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,525 shares of the company’s stock, valued at approximately $31,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Alberta Investment Management Corp bought a new position in shares of Symbotic during the fourth quarter valued at approximately $586,000. Vanguard Group Inc. raised its holdings in shares of Symbotic by 41.3% during the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock worth $117,846,000 after purchasing an additional 1,452,627 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Symbotic during the fourth quarter worth $20,754,000. Cetera Investment Advisers raised its holdings in shares of Symbotic by 5.7% during the fourth quarter. Cetera Investment Advisers now owns 24,621 shares of the company’s stock worth $584,000 after purchasing an additional 1,332 shares during the last quarter. Finally, Northern Trust Corp grew its position in Symbotic by 23.7% during the fourth quarter. Northern Trust Corp now owns 110,148 shares of the company’s stock valued at $2,612,000 after buying an additional 21,077 shares during the period.

Analyst Ratings Changes

Several brokerages have recently issued reports on SYM. BWS Financial reiterated a “sell” rating and issued a $10.00 target price on shares of Symbotic in a research report on Wednesday, April 2nd. UBS Group decreased their target price on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Citigroup decreased their target price on shares of Symbotic from $37.00 to $29.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, The Goldman Sachs Group reduced their price target on shares of Symbotic from $25.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.20.

Insider Activity

In other Symbotic news, insider William M. Boyd III sold 2,455 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $22.31, for a total transaction of $54,771.05. Following the sale, the insider now directly owns 39,659 shares of the company’s stock, valued at $884,792.29. This trade represents a 5.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $17.51, for a total transaction of $35,020.00. Following the sale, the director now directly owns 194,036 shares in the company, valued at $3,397,570.36. This represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,056 shares of company stock worth $1,028,601 in the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Symbotic Trading Up 2.0%

Shares of Symbotic stock opened at $28.80 on Thursday. The company has a fifty day simple moving average of $24.62 and a 200-day simple moving average of $25.26. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $41.76. The stock has a market cap of $16.98 billion, a price-to-earnings ratio of -411.37, a PEG ratio of 6.48 and a beta of 1.95.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). The business had revenue of $549.65 million during the quarter, compared to analysts’ expectations of $522.36 million. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. The firm’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS. On average, analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Symbotic Profile

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.