8,445 Shares in Symbotic Inc. (NASDAQ:SYM) Acquired by Grove Street Fiduciary LLC

Grove Street Fiduciary LLC bought a new position in shares of Symbotic Inc. (NASDAQ:SYM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,445 shares of the company’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in shares of Symbotic by 10.2% in the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock valued at $12,290,000 after buying an additional 46,721 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Symbotic during the third quarter valued at approximately $1,029,000. Capital Market Strategies LLC acquired a new stake in Symbotic in the fourth quarter valued at approximately $802,000. Baillie Gifford & Co. grew its holdings in Symbotic by 32.0% in the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after purchasing an additional 3,410,050 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Symbotic by 10.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock worth $5,343,000 after purchasing an additional 20,469 shares in the last quarter.

Symbotic Stock Down 2.5 %

Shares of SYM opened at $26.09 on Friday. The business’s 50-day moving average is $27.27 and its two-hundred day moving average is $26.44. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $50.40.

Symbotic (NASDAQ:SYM) last announced its quarterly 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%. On average, analysts anticipate that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SYM shares. TD Cowen raised their price objective on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Citigroup reissued a “buy” rating and issued a $37.00 price target on shares of Symbotic in a report on Monday, January 13th. UBS Group cut their price objective on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. BWS Financial reiterated a “sell” rating and issued a $10.00 target price on shares of Symbotic in a research note on Tuesday, January 21st. Finally, Northland Securities boosted their target price 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $38.33.

Insider Activity

In other news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 directly owns 214,036 shares in the company, valued at $5,145,425.44. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael David Dunn sold 3,635 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $33.28, for a total value of $120,972.80. Following the transaction, the insider now owns 24,272 shares in the company, valued at $807,772.16. This trade represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,114 shares of company stock valued at $3,238,557 in the last three months. 0.60% of the stock is currently owned by corporate insiders.

Symbotic Company 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.