Y Intercept Hong Kong Ltd Invests $5.50 Million in Symbotic Inc. $SYM

Y Intercept Hong Kong Ltd bought a new position in Symbotic Inc. (NASDAQ:SYM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 141,664 shares of the company’s stock, valued at approximately $5,504,000.

Several other institutional investors have also recently made changes to their positions in the company. DDD Partners LLC grew its stake in shares of Symbotic by 139.4% in the 2nd quarter. DDD Partners LLC now owns 115,079 shares of the company’s stock worth $4,471,000 after acquiring an additional 67,006 shares in the last quarter. 180 Wealth Advisors LLC grew its stake in shares of Symbotic by 9.1% in the 2nd quarter. 180 Wealth Advisors LLC now owns 58,521 shares of the company’s stock worth $2,274,000 after acquiring an additional 4,901 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of Symbotic by 13.3% in the 2nd quarter. ARK Investment Management LLC now owns 445,498 shares of the company’s stock worth $17,308,000 after acquiring an additional 52,205 shares in the last quarter. Onyx Bridge Wealth Group LLC bought a new stake in shares of Symbotic in the 2nd quarter worth $341,000. Finally, Gables Capital Management Inc. purchased a new position in shares of Symbotic in the 2nd quarter worth about $39,000.

Insider Buying and Selling at Symbotic

In other Symbotic news, Director Todd Krasnow sold 4,000 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $67.02, for a total transaction of $268,080.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Maria G. Freve sold 482 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $68.47, for a total transaction of $33,002.54. Following the sale, the insider directly owned 1,974 shares in the company, valued at approximately $135,159.78. This trade represents a 19.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 490,830 shares of company stock valued at $25,190,461. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Needham & Company LLC boosted their price target on shares of Symbotic from $32.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Symbotic from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a report on Friday, July 18th. Baird R W downgraded shares of Symbotic from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Wall Street Zen raised shares of Symbotic from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Seven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Symbotic presently has a consensus rating of “Hold” and an average target price of $44.61.

Symbotic Stock Up 8.6%

NASDAQ SYM opened at $70.69 on Tuesday. The company has a market cap of $41.74 billion, a PE ratio of -1,009.71, a price-to-earnings-growth ratio of 10.96 and a beta of 2.06. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $79.58. The firm’s 50-day simple moving average is $56.45 and its two-hundred day simple moving average is $43.29.

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