Hunter Associates Investment Management LLC Boosts Stake in Symbotic Inc. (NASDAQ:SYM)

Hunter Associates Investment Management LLC boosted its position in Symbotic Inc. (NASDAQ:SYM) by 29.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,093 shares of the company’s stock after acquiring an additional 14,487 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Symbotic were worth $1,528,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Symbotic by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after purchasing an additional 345,386 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Symbotic by 191.5% during the second quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after buying an additional 509,700 shares during the period. Blair William & Co. IL boosted its position in Symbotic by 418.1% during the first quarter. Blair William & Co. IL now owns 33,365 shares of the company’s stock valued at $1,501,000 after buying an additional 26,925 shares during the period. Comerica Bank increased its holdings in shares of Symbotic by 1,347.0% in the first quarter. Comerica Bank now owns 16,641 shares of the company’s stock worth $749,000 after buying an additional 15,491 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Symbotic by 6,694.5% in the 2nd quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock valued at $11,801,000 after acquiring an additional 330,709 shares during the last quarter.

Symbotic Trading Up 3.6 %

SYM opened at $28.41 on Tuesday. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $59.82. The company has a market cap of $16.64 billion, a price-to-earnings ratio of -149.53 and a beta of 1.84. The stock has a fifty day simple moving average of $23.89 and a two-hundred day simple moving average of $32.08.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, July 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. The business had revenue of $491.86 million for the quarter, compared to analysts’ expectations of $464.56 million. During the same period last year, the business earned ($0.07) earnings per share. The company’s revenue was up 57.7% on a year-over-year basis. On average, analysts predict that Symbotic Inc. will post -0.08 EPS for the current year.

Insider Buying and Selling at Symbotic

In related news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total value of $37,500.00. Following the sale, the director now owns 214,036 shares in the company, valued at $4,013,175. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Symbotic news, insider Michael David Dunn sold 5,266 shares of Symbotic stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $23.81, for a total value of $125,383.46. Following the completion of the sale, the insider now owns 85,224 shares of the company’s stock, valued at approximately $2,029,183.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total value of $37,500.00. Following the completion of the sale, the director now owns 214,036 shares of the company’s stock, valued at $4,013,175. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,231 shares of company stock valued at $775,639. Corporate insiders own 38.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SYM. Craig Hallum reduced their price target on Symbotic from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. KeyCorp dropped their price target on shares of Symbotic from $55.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a research report on Friday, October 11th. Finally, Robert W. Baird dropped their target price on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.23.

About Symbotic

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.