Armstrong Advisory Group Inc. Grows Stake in Symbotic Inc. (NASDAQ:SYM)

Armstrong Advisory Group Inc. grew its stake in shares of Symbotic Inc. (NASDAQ:SYM) by 122.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,782 shares of the company’s stock after purchasing an additional 6,479 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in Symbotic were worth $279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Baillie Gifford & Co. lifted its position in Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after acquiring an additional 3,410,050 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of 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 purchasing an additional 509,700 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Symbotic by 76.8% during the third quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock worth $21,317,000 after purchasing an additional 379,726 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Symbotic by 6,694.5% in the second quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock valued at $11,801,000 after purchasing an additional 330,709 shares during the period. Finally, Thematics Asset Management grew its holdings in Symbotic by 30.1% during the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock valued at $25,565,000 after purchasing an additional 242,661 shares in the last quarter.

Symbotic Stock Up 6.5 %

NASDAQ SYM opened at $26.77 on Thursday. Symbotic Inc. has a one year low of $17.11 and a one year high of $52.20. The company has a 50-day simple moving average of $28.06 and a 200-day simple moving average of $27.56.

Symbotic (NASDAQ:SYM) last issued its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The company had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. Symbotic’s quarterly revenue was up 47.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share. As a group, equities analysts anticipate that Symbotic Inc. will post 0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SYM shares. TD Cowen boosted their price objective on shares of Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. BWS Financial reissued a “sell” rating and issued a $10.00 price target on shares of Symbotic in a report on Tuesday, November 19th. UBS Group dropped their price objective on Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. KeyCorp reiterated a “sector weight” rating on shares of Symbotic in a research note on Wednesday, November 27th. Finally, Northland Securities raised their price target on shares of Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $39.86.

Insider Buying and Selling

In other news, insider Michael David Dunn sold 63,867 shares of Symbotic stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $30.08, for a total transaction of $1,921,119.36. Following the sale, the insider now owns 24,055 shares of the company’s stock, valued at approximately $723,574.40. The trade was a 72.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Carol J. Hibbard sold 22,821 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the transaction, the chief financial officer now owns 34,188 shares of the company’s stock, valued at approximately $990,084.48. This represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,844 shares of company stock worth $3,268,431 in the last three months. 38.30% of the stock is owned by insiders.

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.