HighTower Advisors LLC Increases Stock Position in Symbotic Inc. (NASDAQ:SYM)

HighTower Advisors LLC raised its position in Symbotic Inc. (NASDAQ:SYM) by 13.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,371 shares of the company’s stock after buying an additional 3,033 shares during the period. HighTower Advisors LLC’s holdings in Symbotic were worth $625,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Amundi increased its position in shares of Symbotic by 30.0% in the fourth quarter. Amundi now owns 47,199 shares of the company’s stock valued at $1,119,000 after buying an additional 10,895 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Symbotic by 146.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,832 shares of the company’s stock worth $91,000 after acquiring an additional 2,275 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Symbotic in the 4th quarter worth $20,754,000. M&T Bank Corp lifted its holdings in Symbotic by 23.5% during the fourth quarter. M&T Bank Corp now owns 18,095 shares of the company’s stock valued at $429,000 after purchasing an additional 3,445 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Symbotic by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 230,996 shares of the company’s stock valued at $5,477,000 after purchasing an additional 11,922 shares during the period.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SYM shares. Citigroup restated a “buy” rating and set a $37.00 price target on shares of Symbotic in a research report on Monday, January 13th. UBS Group decreased their target price on Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research report on Thursday, February 6th. William Blair reissued a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Finally, BWS Financial reaffirmed a “sell” rating and set a $10.00 target price on shares of Symbotic in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $38.20.

Symbotic Price Performance

NASDAQ:SYM opened at $20.16 on Friday. The company’s 50-day moving average is $25.53 and its two-hundred day moving average is $26.68. Symbotic Inc. has a 1-year low of $17.11 and a 1-year high of $48.98. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of -287.96, a PEG ratio of 6.48 and a beta of 1.85.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. As a group, equities analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.04, for a total value of $48,080.00. Following the completion of the sale, the director now owns 214,036 shares in the company, valued at approximately $5,145,425.44. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael David Dunn sold 5,365 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $24.60, for a total value of $131,979.00. Following the transaction, the insider now owns 31,860 shares in the company, valued at $783,756. This trade represents a 14.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,442 shares of company stock valued at $2,120,023 in the last quarter. Insiders own 0.60% of the company’s stock.

About Symbotic

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.