Lighthouse Financial LLC Makes New $814,000 Investment in Symbotic Inc. $SYM

Lighthouse Financial LLC purchased a new stake in shares of Symbotic Inc. (NASDAQ:SYM) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 19,345 shares of the company’s stock, valued at approximately $814,000.

Several other hedge funds have also added to or reduced their stakes in the business. USS Investment Management Ltd acquired a new position in shares of Symbotic in the first quarter valued at $15,004,000. Abacus FCF Advisors LLC acquired a new stake in shares of Symbotic during the 2nd quarter worth about $3,109,000. Engineers Gate Manager LP lifted its stake in shares of Symbotic by 469.6% during the 2nd quarter. Engineers Gate Manager LP now owns 56,930 shares of the company’s stock worth $2,559,000 after buying an additional 46,936 shares during the last quarter. Peregrine Asset Advisers Inc. acquired a new stake in shares of Symbotic during the 1st quarter worth about $2,379,000. Finally, Wealthfront Advisers LLC lifted its stake in shares of Symbotic by 168.1% during the 1st quarter. Wealthfront Advisers LLC now owns 71,248 shares of the company’s stock worth $3,790,000 after buying an additional 44,676 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays decreased their price target on shares of Symbotic from $44.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 8th. Needham & Company LLC lowered their price target on shares of Symbotic from C$75.00 to C$60.00 and set a “buy” rating on the stock in a report on Tuesday, September 15th. Robert W. Baird set a $51.00 price objective on shares of Symbotic in a research report on Thursday, August 6th. TD Cowen reduced their price objective on Symbotic from $75.00 to $70.00 and set a “buy” rating for the company in a report on Thursday. Finally, Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $65.83.

Symbotic Price Performance

Shares of NASDAQ:SYM opened at $39.28 on Friday. The business’s 50 day simple moving average is $41.68 and its 200 day simple moving average is $45.57. Symbotic Inc. has a 1 year low of $36.47 and a 1 year high of $87.88. The company has a market capitalization of $23.76 billion, a P/E ratio of 436.44, a P/E/G ratio of 3.82 and a beta of 1.97.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $720.84 million during the quarter, compared to analyst estimates of $715.03 million. Symbotic had a net margin of 0.48% and a return on equity of 1.40%. Symbotic’s revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) earnings per share. On average, sell-side analysts anticipate that Symbotic Inc. will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles Kane sold 2,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $43.17, for a total value of $86,340.00. Following the completion of the transaction, the director owned 89,852 shares of the company’s stock, valued at $3,878,910.84. The trade was a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $42.72, for a total transaction of $85,440.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 52,609 shares of company stock valued at $2,172,104 in the last ninety days. Insiders own 8.16% of the company’s stock.

About Symbotic

Symbotic Inc is an automation technology company that develops artificial intelligence-enabled robotics and software for supply chain and warehouse operations. Its systems are designed to automate the movement, storage, retrieval and replenishment of pallets and cases within large distribution centers, helping customers manage inventory and fulfill orders more efficiently.

The company’s platform combines mobile robots, automated storage and retrieval systems, robotic palletizing and depalletizing equipment, and warehouse-control software.