24,700 Shares in Symbotic Inc. (NASDAQ:SYM) Bought by Alberta Investment Management Corp

Alberta Investment Management Corp acquired a new position in shares of Symbotic Inc. (NASDAQ:SYM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,700 shares of the company’s stock, valued at approximately $586,000.

Several other institutional investors and hedge funds have also modified their holdings of SYM. 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 valued at $12,290,000 after purchasing an additional 46,721 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Symbotic in the third quarter valued at about $1,029,000. Capital Market Strategies LLC acquired a new stake in shares of Symbotic in the fourth quarter valued at about $802,000. Baillie Gifford & Co. increased its stake in shares of Symbotic by 32.0% in the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after buying an additional 3,410,050 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Symbotic by 10.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock valued at $5,343,000 after buying an additional 20,469 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Craig Hallum cut 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. Oppenheimer assumed coverage on Symbotic in a research note on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 price target for the company. UBS Group decreased their price target on Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Raymond James cut Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. Finally, Northland Securities raised their target price on Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. 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 company. According to data from MarketBeat, Symbotic presently has a consensus rating of “Hold” and a consensus target price of $38.33.

Insider Activity

In related news, insider Michael David Dunn sold 63,867 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $30.08, for a total transaction of $1,921,119.36. Following the sale, the insider now directly owns 24,055 shares in the company, valued at approximately $723,574.40. The trade was a 72.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $27.32, for a total value of $54,640.00. Following the sale, the director now owns 194,036 shares in the company, valued at approximately $5,301,063.52. The trade was a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,114 shares of company stock valued at $3,238,557 in the last 90 days. Insiders own 0.60% of the company’s stock.

Symbotic Price Performance

Shares of NASDAQ SYM opened at $24.47 on Friday. Symbotic Inc. has a one year low of $17.11 and a one year high of $50.40. The business’s fifty day moving average price is $27.22 and its 200-day moving average price is $26.45. The stock has a market capitalization of $14.40 billion, a PE ratio of -349.52, a P/E/G ratio of 6.48 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last issued its quarterly 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, equities analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

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.