USS Investment Management Ltd Purchases New Shares in Symbotic Inc. $SYM

USS Investment Management Ltd acquired a new position in Symbotic Inc. (NASDAQ:SYM) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 281,981 shares of the company’s stock, valued at approximately $15,004,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its holdings in shares of Symbotic by 100.0% in 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 in the last quarter. MAI Capital Management increased its position in shares of Symbotic by 833.3% during the third quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares during the last quarter. Quarry LP bought a new stake in Symbotic during the fourth quarter worth $36,000. Parallel Advisors LLC lifted its holdings in Symbotic by 67.3% during the fourth 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. Finally, Ameriflex Group Inc. boosted its position in Symbotic by 1,500.0% in the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after purchasing an additional 660 shares during the last quarter.

Insider Buying and Selling

In related news, CTO James Kuffner sold 3,878 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.51, for a total transaction of $207,511.78. Following the sale, the chief technology officer directly owned 185,126 shares in the company, valued at approximately $9,906,092.26. This represents a 2.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $47.30, for a total transaction of $94,600.00. 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. Over the last quarter, insiders have sold 137,316 shares of company stock valued at $7,747,335. Corporate insiders own 8.16% of the company’s stock.

Symbotic Price Performance

Shares of SYM opened at $44.96 on Thursday. Symbotic Inc. has a 1 year low of $38.19 and a 1 year high of $87.88. The stock’s fifty day moving average price is $49.01 and its two-hundred day moving average price is $54.52. The firm has a market cap of $27.10 billion, a PE ratio of -899.02, a PEG ratio of 6.63 and a beta of 1.93.

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

Analyst Ratings Changes

SYM has been the subject of several research analyst reports. Weiss Ratings lowered Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. DA Davidson reissued a “buy” rating and issued a $70.00 price target on shares of Symbotic in a report on Monday, May 11th. The Goldman Sachs Group reduced their price target on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a research report on Tuesday, May 26th. Finally, Barclays raised their price objective on shares of Symbotic from $42.00 to $44.00 and gave the stock an “underweight” rating in a report on Monday, March 16th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Symbotic has a consensus rating of “Hold” and an average price target of $65.23.

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.