ARK Investment Management LLC Buys New Position in Symbotic Inc. (NASDAQ:SYM)

ARK Investment Management LLC bought a new stake in Symbotic Inc. (NASDAQ:SYM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 190,067 shares of the company’s stock, valued at approximately $4,506,000.

Several other large investors have also recently added to or reduced their stakes in SYM. Alberta Investment Management Corp acquired a new position in Symbotic during the fourth quarter worth approximately $586,000. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 46,721 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Symbotic during the 3rd quarter valued at $1,029,000. Capital Market Strategies LLC purchased a new position in Symbotic in the fourth quarter valued at about $802,000. Finally, Baillie Gifford & Co. grew 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 in the last quarter.

Insider Buying and Selling at Symbotic

In other Symbotic news, insider Michael David Dunn sold 63,867 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Carol J. Hibbard sold 4,055 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total transaction of $124,488.50. Following the completion of the sale, the chief financial officer now directly owns 44,386 shares of the company’s stock, valued at approximately $1,362,650.20. This represents a 8.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,854 shares of company stock valued at $3,986,371 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SYM has been the subject of a number of recent analyst reports. Needham & Company LLC decreased their price target on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Wednesday, January 8th. Citigroup reiterated a “buy” rating and issued a $37.00 price target on shares of Symbotic in a research note on Monday, January 13th. BWS Financial restated a “sell” rating and set a $10.00 price objective on shares of Symbotic in a research note on Tuesday, January 21st. Finally, Northland Securities lifted their target price on Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.20.

Symbotic Stock Up 1.2 %

Shares of NASDAQ:SYM opened at $23.72 on Thursday. The company’s 50-day moving average price is $27.12 and its 200 day moving average price is $26.52. The company has a market cap of $13.96 billion, a PE ratio of -338.81, a P/E/G ratio of 6.48 and a beta of 1.79. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $50.40.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share 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 anticipate that Symbotic Inc. will post 0.13 EPS for the current year.

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.