Symbotic Inc. $SYM Shares Bought by Sei Investments Co.

Sei Investments Co. boosted its stake in shares of Symbotic Inc. (NASDAQ:SYM) by 21.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,420 shares of the company’s stock after buying an additional 25,024 shares during the quarter. Sei Investments Co.’s holdings in Symbotic were worth $7,683,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Parkside Financial Bank & Trust lifted its holdings in shares of Symbotic by 100.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after acquiring an additional 268 shares during the last quarter. Quarry LP purchased a new position in shares of Symbotic during the 4th quarter worth approximately $36,000. Parallel Advisors LLC increased its holdings in 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. Gordian Capital Singapore Pte Ltd acquired a new stake in Symbotic in the 4th quarter valued at approximately $48,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Symbotic in the 4th quarter valued at approximately $55,000.

Insider Buying and Selling

In other Symbotic news, SVP Brian Daniel Alexander sold 9,130 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $40.30, for a total value of $367,939.00. Following the sale, the senior vice president owned 55,611 shares of the company’s stock, valued at $2,241,123.30. This trade represents a 14.10% 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, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $43.92, for a total value of $87,840.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 111,970 shares of company stock worth $5,329,876 over the last ninety days. Company insiders own 8.16% of the company’s stock.

Symbotic Price Performance

Symbotic stock opened at $43.05 on Monday. Symbotic Inc. has a 52-week low of $38.19 and a 52-week high of $87.88. The firm has a market cap of $25.95 billion, a PE ratio of -860.83, a price-to-earnings-growth ratio of 6.35 and a beta of 1.94. The company’s 50 day moving average is $43.43 and its two-hundred day moving average is $51.36.

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

Analysts Set New Price Targets

SYM has been the topic of a number of research reports. Weiss Ratings cut Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Zacks Research cut Symbotic from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. DA Davidson reiterated a “buy” rating and issued a $70.00 price objective on shares of Symbotic in a report on Monday, May 11th. Finally, The Goldman Sachs Group decreased their target price on Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a research note on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $66.50.

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.