Geode Capital Management LLC Buys 1,356 Shares of Symbotic Inc. (NASDAQ:SYM)

Geode Capital Management LLC lifted its position in Symbotic Inc. (NASDAQ:SYM) by 0.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 505,114 shares of the company’s stock after purchasing an additional 1,356 shares during the quarter. Geode Capital Management LLC’s holdings in Symbotic were worth $11,981,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. IFP Advisors Inc boosted its position in Symbotic by 58.2% in the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after buying an additional 503 shares in the last quarter. Private Trust Co. NA acquired a new position in shares of Symbotic in the 4th quarter worth approximately $47,000. Jones Financial Companies Lllp boosted its holdings in shares of Symbotic by 154.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock worth $58,000 after acquiring an additional 1,490 shares in the last quarter. MCF Advisors LLC bought a new stake in Symbotic during the 4th quarter worth approximately $85,000. Finally, PNC Financial Services Group Inc. increased its holdings in Symbotic by 146.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,832 shares of the company’s stock valued at $91,000 after purchasing an additional 2,275 shares in the last quarter.

Insider Activity at Symbotic

In related news, CFO Carol J. Hibbard sold 4,055 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total value of $124,488.50. Following the completion of the sale, the chief financial officer now owns 44,386 shares in the company, valued at $1,362,650.20. This represents a 8.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rollin L. Ford sold 28,740 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.02, for a total value of $747,814.80. Following the sale, the director now directly owns 10,447 shares in the company, valued at $271,830.94. The trade was a 73.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,663 shares of company stock worth $1,653,063 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Symbotic Stock Down 3.9 %

SYM stock opened at $19.62 on Tuesday. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $48.98. The business’s fifty day moving average is $21.98 and its 200-day moving average is $26.23. The company has a market cap of $11.54 billion, a P/E ratio of -280.25, a price-to-earnings-growth ratio of 6.48 and a beta of 1.86.

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

Analysts Set New Price Targets

A number of equities analysts have commented on SYM shares. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Wednesday, January 8th. Northland Securities upped their price target on shares of Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Raymond James cut shares of Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. Citigroup reduced their target price on shares of Symbotic from $37.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Needham & Company LLC decreased their price target on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.20.

Symbotic Profile

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.