14,809 Shares in Symbotic Inc. $SYM Purchased by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Symbotic Inc. (NASDAQ:SYM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,809 shares of the company’s stock, valued at approximately $788,000.

Other hedge funds have also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its holdings in Symbotic by 100.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after purchasing an additional 268 shares during the last quarter. Quarry LP purchased a new position in shares of Symbotic during the 4th quarter valued at approximately $36,000. Parallel Advisors LLC grew its position in shares of Symbotic by 67.3% during the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after buying an additional 249 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Symbotic in the fourth quarter worth $48,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Symbotic in the fourth quarter worth $55,000.

Analysts Set New Price Targets

A number of research firms have commented on SYM. DA Davidson reiterated a “buy” rating and set a $70.00 price objective on shares of Symbotic in a research note on Monday, May 11th. Zacks Research downgraded shares of Symbotic from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Weiss Ratings lowered shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, The Goldman Sachs Group cut their target price on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a research note on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $65.23.

Insider Buying and Selling at Symbotic

In related news, Director Charles Kane sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $44.90, for a total transaction of $89,800.00. Following the completion of the sale, the director owned 89,852 shares of the company’s stock, valued at $4,034,354.80. This represents a 2.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $43.92, for a total transaction 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 sold a total of 147,798 shares of company stock valued at $8,221,095 over the last three months. 8.16% of the stock is currently owned by company insiders.

Symbotic Trading Down 1.7%

Shares of NASDAQ SYM opened at $41.25 on Friday. The company has a market capitalization of $24.86 billion, a price-to-earnings ratio of -824.84, a price-to-earnings-growth ratio of 6.19 and a beta of 1.93. Symbotic Inc. has a twelve month low of $38.19 and a twelve month high of $87.88. The business has a 50 day simple moving average of $45.07 and a 200-day simple moving average of $53.17.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.11). The firm had revenue of $676.48 million for the quarter, compared to the consensus estimate 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 for the quarter was up 23.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.04) earnings per share. As a group, equities analysts predict that Symbotic Inc. will post 0.23 earnings per share for the current year.

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.