Hunter Associates Investment Management LLC Acquires 4,320 Shares of Symbotic Inc. (NASDAQ:SYM)

Hunter Associates Investment Management LLC raised its stake in shares of Symbotic Inc. (NASDAQ:SYM) by 6.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 67,413 shares of the company’s stock after buying an additional 4,320 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Symbotic were worth $1,599,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SYM. Geode Capital Management LLC boosted its stake 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 buying an additional 46,721 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Symbotic during the third quarter valued at approximately $1,029,000. Capital Market Strategies LLC purchased a new stake in shares of Symbotic in the 4th quarter worth about $802,000. Baillie Gifford & Co. boosted 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 valued at $343,192,000 after acquiring an additional 3,410,050 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Symbotic by 10.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock worth $5,343,000 after acquiring an additional 20,469 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Craig Hallum lowered shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research note on Wednesday, November 27th. William Blair reissued a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. Northland Securities raised their price objective on Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. UBS Group dropped their target price on Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Finally, The Goldman Sachs Group dropped their price target on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.73.

Symbotic Stock Up 1.9 %

NASDAQ SYM opened at $29.82 on Friday. The company has a 50-day moving average price of $27.59 and a 200-day moving average price of $27.16. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $52.20.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The business had revenue of $576.77 million for the quarter, compared to the consensus estimate of $470.24 million. During the same period last year, the firm earned ($0.08) earnings per share. The company’s quarterly revenue was up 47.2% on a year-over-year basis. On average, equities analysts predict that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Insider Activity at Symbotic

In other news, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the completion of the transaction, the chief financial officer now owns 34,188 shares of the company’s stock, valued at $990,084.48. This represents a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael David Dunn sold 3,635 shares of Symbotic stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $33.28, for a total value of $120,972.80. Following the sale, the insider now directly owns 24,272 shares in the company, valued at $807,772.16. This trade represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,802 shares of company stock worth $3,361,487. Corporate insiders own 0.60% of the company’s stock.

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.