Allianz SE Invests $854,000 in Symbotic Inc. (NASDAQ:SYM)

Allianz SE purchased a new position in Symbotic Inc. (NASDAQ:SYM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,072 shares of the company’s stock, valued at approximately $854,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in shares of Symbotic by 58.2% in the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after acquiring an additional 503 shares in the last quarter. Private Trust Co. NA purchased a new stake in shares of Symbotic in the 4th quarter worth approximately $47,000. Jones Financial Companies Lllp boosted its stake in shares of Symbotic by 154.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock valued at $58,000 after purchasing an additional 1,490 shares in the last quarter. Quest Partners LLC increased its holdings in Symbotic by 19,307.7% during the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after buying an additional 2,510 shares during the period. Finally, MCF Advisors LLC purchased a new stake in Symbotic during the fourth quarter worth $85,000.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SYM shares. Northland Securities raised their price target on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Raymond James downgraded shares of Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. BWS Financial reaffirmed a “sell” rating and set a $10.00 price target on shares of Symbotic in a research report on Tuesday, January 21st. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, January 8th. Finally, Needham & Company LLC decreased their price target on Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $38.20.

Insider Buying and Selling at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $24.04, for a total value of $48,080.00. Following the completion of the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at approximately $5,145,425.44. This represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William M. Boyd III sold 2,455 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $22.31, for a total value of $54,771.05. Following the transaction, the insider now owns 39,659 shares of the company’s stock, valued at $884,792.29. This trade represents a 5.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,442 shares of company stock valued at $2,120,023 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

Symbotic Stock Performance

NASDAQ SYM opened at $20.16 on Monday. The firm’s 50 day moving average price is $25.53 and its two-hundred day moving average price is $26.73. The stock has a market cap of $11.86 billion, a price-to-earnings ratio of -287.96, a PEG ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $48.98.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. On average, research analysts forecast that Symbotic Inc. will post 0.13 EPS for the current fiscal 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.