Symbotic Inc. (NASDAQ:SYM) Position Increased by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC raised its position in shares of Symbotic Inc. (NASDAQ:SYM) by 6.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,413 shares of the company’s stock after buying an additional 4,320 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Symbotic were worth $1,599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Castleview Partners LLC lifted its holdings in shares of Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after buying an additional 500 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Symbotic by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock worth $304,000 after buying an additional 679 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Symbotic by 28.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock valued at $85,000 after acquiring an additional 774 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Symbotic by 36.8% in the 3rd quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock valued at $87,000 after purchasing an additional 957 shares during the period. Finally, RiverPark Advisors LLC boosted its stake in Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after buying an additional 1,211 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have weighed in on SYM shares. TD Cowen raised their price objective on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Northland Securities lifted their price target on Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Needham & Company LLC restated a “buy” rating and set a $35.00 price objective on shares of Symbotic in a research note on Friday, January 17th. Craig Hallum cut shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research note on Wednesday, November 27th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.73.

Symbotic Stock Up 1.9 %

Shares of NASDAQ:SYM opened at $29.82 on Friday. The stock’s 50 day moving average is $27.59 and its 200-day moving average is $27.16. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $52.20.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The firm had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $470.24 million. During the same period last year, the company earned ($0.08) earnings per share. The business’s revenue was up 47.2% on a year-over-year basis. Equities analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Symbotic news, insider Michael David Dunn sold 3,635 shares of Symbotic stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $33.28, for a total transaction of $120,972.80. Following the transaction, the insider now owns 24,272 shares of the company’s stock, valued at $807,772.16. This trade represents a 13.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $28.15, for a total value of $56,300.00. Following the completion of the transaction, the director now owns 214,036 shares in the company, valued at $6,025,113.40. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,802 shares of company stock valued at $3,361,487. Corporate insiders own 0.60% of the company’s stock.

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.