Handelsbanken Fonder AB Makes New $252,000 Investment in Symbotic Inc. (NASDAQ:SYM)

Handelsbanken Fonder AB acquired a new stake in shares of Symbotic Inc. (NASDAQ:SYMFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,900 shares of the company’s stock, valued at approximately $252,000.

A number of other institutional investors have also recently made changes to their positions in SYM. Commonwealth Equity Services LLC grew its position in shares of Symbotic by 70.8% during the third quarter. Commonwealth Equity Services LLC now owns 16,266 shares of the company’s stock valued at $544,000 after purchasing an additional 6,743 shares in the last quarter. Pinnacle Associates Ltd. purchased a new position in shares of Symbotic during the third quarter valued at about $342,000. Raymond James & Associates grew its position in shares of Symbotic by 19.5% during the third quarter. Raymond James & Associates now owns 502,488 shares of the company’s stock valued at $16,798,000 after purchasing an additional 82,116 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Symbotic by 176.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 75,527 shares of the company’s stock valued at $2,525,000 after purchasing an additional 48,214 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Symbotic by 15.3% during the third quarter. Bank of New York Mellon Corp now owns 60,466 shares of the company’s stock valued at $2,021,000 after purchasing an additional 8,041 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a report on Tuesday, February 6th. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a report on Wednesday, February 7th. Needham & Company LLC lowered their price target on shares of Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Finally, Northland Securities increased their price target on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Symbotic presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Read Our Latest Stock Report on Symbotic

Symbotic Price Performance

Shares of NASDAQ SYM opened at $39.98 on Friday. The firm has a 50-day simple moving average of $42.97 and a two-hundred day simple moving average of $44.21. Symbotic Inc. has a 1 year low of $22.89 and a 1 year high of $64.14. The company has a market cap of $23.07 billion, a P/E ratio of -148.07 and a beta of 1.97.

Symbotic (NASDAQ:SYMGet Free Report) last posted its quarterly earnings results on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. The firm had revenue of $368.45 million during the quarter, compared to the consensus estimate of $370.28 million. As a group, equities research analysts expect that Symbotic Inc. will post -0.03 EPS for the current year.

Insider Activity

In other news, insider William M. Boyd III sold 8,825 shares of Symbotic stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $40.34, for a total transaction of $356,000.50. Following the completion of the sale, the insider now owns 23,012 shares of the company’s stock, valued at $928,304.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider William M. Boyd III sold 8,825 shares of Symbotic stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $40.34, for a total transaction of $356,000.50. Following the transaction, the insider now directly owns 23,012 shares of the company’s stock, valued at $928,304.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael David Dunn sold 1,747 shares of Symbotic stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $40.08, for a total transaction of $70,019.76. Following the transaction, the insider now directly owns 74,032 shares in the company, valued at $2,967,202.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,110,447 shares of company stock valued at $275,433,529. Corporate insiders own 38.30% of the company’s stock.

Symbotic Profile

(Free Report)

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.

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Institutional Ownership by Quarter for Symbotic (NASDAQ:SYM)

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