LGL Partners LLC Invests $595,000 in Symbotic Inc. $SYM

LGL Partners LLC purchased a new position in shares of Symbotic Inc. (NASDAQ:SYM) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $595,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SYM. MAI Capital Management lifted its holdings in Symbotic by 833.3% during the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares in the last quarter. Ameriflex Group Inc. lifted its holdings in Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after purchasing an additional 660 shares in the last quarter. Strategic Advocates LLC purchased a new stake in Symbotic during the 3rd quarter worth about $42,000. NewEdge Advisors LLC lifted its holdings in Symbotic by 81.5% during the 2nd quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock worth $50,000 after purchasing an additional 573 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Symbotic by 20,000.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,005 shares of the company’s stock worth $54,000 after purchasing an additional 1,000 shares in the last quarter.

Insider Transactions at Symbotic

In other Symbotic news, SVP Brian Daniel Alexander sold 37,860 shares of the firm’s 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 legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Maria G. Freve sold 2,265 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $57.72, for a total value of $130,735.80. Following the completion of the sale, the insider directly owned 739 shares in the company, valued at approximately $42,655.08. The trade was a 75.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 123,003 shares of company stock worth $6,996,241. 8.16% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on SYM shares. Wall Street Zen cut Symbotic from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings cut Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Needham & Company LLC increased their price objective on Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, DA Davidson reissued a “buy” rating and set a $70.00 price objective on shares of Symbotic in a report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $65.62.

Symbotic Price Performance

NASDAQ:SYM opened at $54.03 on Tuesday. The business’s 50-day moving average price is $54.29 and its two-hundred day moving average price is $58.76. Symbotic Inc. has a twelve month low of $27.26 and a twelve month high of $87.88. The stock has a market cap of $32.56 billion, a P/E ratio of -1,080.38, a PEG ratio of 7.97 and a beta of 2.03.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results 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). Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The business had revenue of $676.48 million during the quarter, compared to analysts’ expectations of $662.66 million. During the same period in the previous year, the business earned ($0.04) EPS. The business’s revenue was up 23.1% on a year-over-year basis. On average, equities research analysts expect that Symbotic Inc. will post 0.23 EPS for the current fiscal year.

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.