Hood River Capital Management LLC Boosts Stock Holdings in Symbotic Inc. $SYM

by · The Markets Daily

Hood River Capital Management LLC lifted its holdings in shares of Symbotic Inc. (NASDAQ:SYM – Free Report) by 16.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 424,526 shares of the company’s stock after buying an additional 59,005 shares during the quarter. Hood River Capital Management LLC owned about 0.07% of Symbotic worth $16,493,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Private Trust Co. NA raised its holdings in Symbotic by 10.0% during the 2nd quarter. Private Trust Co. NA now owns 2,200 shares of the company’s stock valued at $85,000 after acquiring an additional 200 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Symbotic by 24.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company’s stock valued at $69,000 after purchasing an additional 342 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Symbotic by 7.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,354 shares of the company’s stock valued at $247,000 after purchasing an additional 422 shares during the period. Main Management ETF Advisors LLC lifted its holdings in Symbotic by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 29,320 shares of the company’s stock worth $1,139,000 after purchasing an additional 480 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Symbotic by 0.9% in the 1st quarter. Swiss National Bank now owns 82,400 shares of the company’s stock worth $1,665,000 after purchasing an additional 700 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SYM. The Goldman Sachs Group cut Symbotic from a “neutral” rating to a “sell” rating and set a $47.00 price target on the stock. in a research report on Tuesday, December 2nd. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Needham & Company LLC increased their target price on shares of Symbotic from $57.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Citigroup raised their price target on shares of Symbotic from $60.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Finally, Barclays upped their price target on shares of Symbotic from $38.00 to $41.00 and gave the stock an “underweight” rating in a report on Wednesday, November 26th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.50.

Check Out Our Latest Analysis on Symbotic

Symbotic Stock Up 1.3%

Shares of NASDAQ:SYM opened at $60.48 on Tuesday. The stock has a market cap of $35.78 billion, a PE ratio of -403.20, a PEG ratio of 16.94 and a beta of 2.10. The company’s fifty day moving average is $68.22 and its 200 day moving average is $53.06. Symbotic Inc. has a 52 week low of $16.32 and a 52 week high of $87.88.

Symbotic (NASDAQ:SYM – Get Free Report) last posted its quarterly earnings results on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.11). The business had revenue of $618.46 million for the quarter, compared to analysts’ expectations of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 earnings per share. Sell-side analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current year.

Insider Activity at Symbotic

In other news, Director Merline Saintil sold 9,000 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $84.72, for a total transaction of $762,480.00. Following the completion of the sale, the director owned 68,413 shares of the company’s stock, valued at approximately $5,795,949.36. This represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Group Corp. Softbank sold 3,500,000 shares of Symbotic stock in a transaction on Monday, December 8th. The stock was sold at an average price of $53.21, for a total transaction of $186,235,000.00. Following the completion of the transaction, the insider directly owned 5,590,000 shares in the company, valued at approximately $297,443,900. The trade was a 38.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 7,085,508 shares of company stock worth $378,774,555 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Symbotic Profile

(Free Report)

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.

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