Robocap Asset Management Ltd Makes New Investment in Symbotic Inc. (NASDAQ:SYM)

Robocap Asset Management Ltd bought a new position in Symbotic Inc. (NASDAQ:SYM) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 57,680 shares of the company’s stock, valued at approximately $1,368,000. Symbotic accounts for about 0.9% of Robocap Asset Management Ltd’s investment portfolio, making the stock its 25th biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of SYM. Castleview Partners LLC increased its stake in shares of Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Symbotic during the third quarter valued at about $49,000. RiverPark Advisors LLC boosted its stake in shares of Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after acquiring an additional 1,211 shares during the period. Quest Partners LLC grew its position in shares of Symbotic by 19,307.7% during the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after purchasing an additional 2,510 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in 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 purchasing an additional 774 shares during the period.

Insider Activity

In other news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $24.04, for a total transaction of $48,080.00. Following the transaction, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael David Dunn sold 63,867 shares of Symbotic stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $30.08, for a total value of $1,921,119.36. Following the completion of the sale, the insider now owns 24,055 shares of the company’s stock, valued at $723,574.40. The trade was a 72.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,007 shares of company stock valued at $2,827,909. 0.60% of the stock is currently owned by company insiders.

Symbotic Stock Performance

Symbotic stock opened at $26.37 on Friday. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $50.40. The firm has a 50-day moving average price of $27.15 and a 200-day moving average price of $26.82.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. As a group, analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a research note on Thursday. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Wednesday, January 8th. BWS Financial reiterated a “sell” rating and issued a $10.00 price target on shares of Symbotic in a report on Tuesday, January 21st. The Goldman Sachs Group dropped their price objective on shares of Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday. Finally, William Blair reiterated a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $38.33.

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.