Headlands Technologies LLC Takes Position in Symbotic Inc. (NASDAQ:SYM)

Headlands Technologies LLC acquired a new stake in shares of Symbotic Inc. (NASDAQ:SYM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 53,032 shares of the company’s stock, valued at approximately $1,257,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in shares of Symbotic by 58.2% in the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after acquiring an additional 503 shares during the last quarter. Private Trust Co. NA bought a new stake in shares of Symbotic in the 4th quarter valued at about $47,000. Jones Financial Companies Lllp boosted its position 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 worth $58,000 after purchasing an additional 1,490 shares in the last quarter. MCF Advisors LLC acquired a new position in Symbotic in the fourth quarter valued at about $85,000. Finally, Quarry LP raised its holdings in Symbotic by 89.9% during the 3rd quarter. Quarry LP now owns 3,508 shares of the company’s stock worth $86,000 after buying an additional 1,661 shares during the period.

Insider Activity at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at $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 available through this link. Also, CFO Carol J. Hibbard sold 4,055 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total transaction of $124,488.50. Following the transaction, the chief financial officer now owns 44,386 shares of the company’s stock, valued at approximately $1,362,650.20. This trade represents a 8.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,442 shares of company stock valued at $2,120,023 over the last ninety days. 0.60% of the stock is owned by company insiders.

Symbotic Stock Performance

Shares of Symbotic stock opened at $20.90 on Wednesday. The company has a fifty day moving average of $25.09 and a 200 day moving average of $26.73. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $48.98. The company has a market capitalization of $12.30 billion, a P/E ratio of -298.53, a P/E/G ratio of 6.48 and a beta of 1.85.

Symbotic (NASDAQ:SYM) last announced its earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping 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%. Analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Northland Securities raised their price target on shares of Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. UBS Group dropped their price objective on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Raymond James lowered Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Wednesday, January 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.20.

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.