JTC Employer Solutions Trustee Ltd Makes New $105,000 Investment in Symbotic Inc. $SYM

JTC Employer Solutions Trustee Ltd purchased a new position in Symbotic Inc. (NASDAQ:SYM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,694 shares of the company’s stock, valued at approximately $105,000.

A number of other hedge funds have also modified their holdings of SYM. GAMMA Investing LLC grew its holdings in shares of Symbotic by 1,812.2% during the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company’s stock worth $29,000 after buying an additional 1,341 shares in the last quarter. AdvisorNet Financial Inc bought a new position in shares of Symbotic during the second quarter worth about $32,000. CWM LLC grew its holdings in shares of Symbotic by 408.2% during the first quarter. CWM LLC now owns 2,602 shares of the company’s stock worth $53,000 after buying an additional 2,090 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of Symbotic by 318.5% during the first quarter. AlphaQuest LLC now owns 2,800 shares of the company’s stock worth $57,000 after buying an additional 2,131 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Symbotic by 24.0% during the second quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company’s stock worth $69,000 after buying an additional 342 shares in the last quarter.

Insider Buying and Selling

In other news, major shareholder Millennium Gst Non-Exempt Rbc sold 220,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $46.45, for a total value of $10,219,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Ladensohn sold 13,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $74.44, for a total value of $1,004,940.00. Following the completion of the sale, the insider directly owned 2,000 shares of the company’s stock, valued at approximately $148,880. The trade was a 87.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 490,826 shares of company stock valued at $25,183,619. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

SYM has been the subject of a number of research reports. Northland Securities increased their price objective on Symbotic from $35.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Citigroup reiterated a “buy” rating on shares of Symbotic in a report on Monday, July 14th. Robert W. Baird downgraded Symbotic from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Thursday, August 7th. Needham & Company LLC raised their price target on Symbotic from $32.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded Symbotic from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Seven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Symbotic has a consensus rating of “Hold” and a consensus price target of $44.61.

Symbotic Stock Down 5.1%

SYM opened at $68.52 on Friday. Symbotic Inc. has a 12-month low of $16.32 and a 12-month high of $79.58. The stock has a market cap of $40.46 billion, a price-to-earnings ratio of -978.72, a PEG ratio of 12.15 and a beta of 2.06. The business has a 50 day moving average of $54.54 and a 200-day moving average of $40.95.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.08). Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The business had revenue of $592.12 million during the quarter, compared to analyst estimates of $533.55 million. During the same period in the previous year, the business earned ($0.02) earnings per share. The business’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

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.