Bouvel Investment Partners LLC Buys New Shares in Symbotic Inc. (NASDAQ:SYM)

Bouvel Investment Partners LLC purchased a new stake in shares of Symbotic Inc. (NASDAQ:SYM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 44,539 shares of the company’s stock, valued at approximately $1,056,000.

Several other large investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its position in shares of Symbotic by 32.0% during the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after purchasing an additional 3,410,050 shares during the period. Thematics Asset Management lifted its holdings in shares of Symbotic by 30.1% during the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock worth $25,565,000 after acquiring an additional 242,661 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Symbotic by 76.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock worth $21,317,000 after acquiring an additional 379,726 shares during the period. Canada Pension Plan Investment Board increased its stake in Symbotic by 191.5% in the second quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after acquiring an additional 509,700 shares during the period. Finally, Geode Capital Management LLC raised its position in Symbotic by 10.2% in the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after purchasing an additional 46,721 shares in the last quarter.

Insider Activity

In other news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $24.04, for a total transaction of $48,080.00. Following the completion of the sale, the director now directly owns 214,036 shares in the company, valued at $5,145,425.44. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael David Dunn sold 1,715 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $28.77, for a total value of $49,340.55. Following the sale, the insider now owns 87,922 shares of the company’s stock, valued at approximately $2,529,515.94. The trade was a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,844 shares of company stock worth $3,268,431. Insiders own 38.30% of the company’s stock.

Symbotic Stock Up 18.9 %

SYM stock opened at $31.82 on Friday. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $52.20. The company has a market cap of $18.69 billion, a PE ratio of -530.33 and a beta of 1.76. The business has a 50-day simple moving average of $28.04 and a 200 day simple moving average of $27.59.

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

Analyst Ratings Changes

SYM has been the topic of several analyst reports. Citigroup reiterated a “buy” rating and issued a $37.00 price objective on shares of Symbotic in a research note on Monday. Northland Securities lifted their price target on Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. William Blair reissued a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. The Goldman Sachs Group cut their price target on Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 4th. Finally, Craig Hallum downgraded Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.53.

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.