Symbotic Inc. (NASDAQ:SYM) Shares Acquired by Marathon Capital Management

Marathon Capital Management lifted its stake in shares of Symbotic Inc. (NASDAQ:SYM) by 8.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,055 shares of the company’s stock after purchasing an additional 3,115 shares during the period. Marathon Capital Management’s holdings in Symbotic were worth $1,479,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. RiverPark Advisors LLC bought a new stake in shares of Symbotic during the 1st quarter worth about $37,000. Pingora Partners LLC acquired a new position in shares of Symbotic in the 4th quarter worth approximately $51,000. RFP Financial Group LLC raised its holdings in shares of Symbotic by 22.4% in the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock worth $59,000 after buying an additional 310 shares in the last quarter. Natixis Investment Managers International acquired a new position in shares of Symbotic in the 1st quarter worth approximately $90,000. Finally, Van ECK Associates Corp raised its position in Symbotic by 109.5% in the 2nd quarter. Van ECK Associates Corp now owns 2,723 shares of the company’s stock valued at $96,000 after purchasing an additional 1,423 shares during the last quarter.

Insider Activity

In related news, insider William M. Boyd III sold 8,826 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $38.71, for a total transaction of $341,654.46. Following the transaction, the insider now owns 23,012 shares in the company, valued at $890,794.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider William M. Boyd III sold 8,826 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $38.71, for a total transaction of $341,654.46. Following the completion of the transaction, the insider now directly owns 23,012 shares of the company’s stock, valued at $890,794.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total transaction of $37,500.00. Following the completion of the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at $4,013,175. The disclosure for this sale can be found here. Insiders have sold a total of 38,909 shares of company stock worth $1,148,358 over the last 90 days. 38.30% of the stock is currently owned by insiders.

Symbotic Trading Up 8.7 %

Shares of NASDAQ:SYM opened at $25.13 on Friday. Symbotic Inc. has a 52-week low of $17.11 and a 52-week high of $59.82. The firm has a fifty day moving average of $24.61 and a 200 day moving average of $35.20.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.04). Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. The firm had revenue of $491.86 million for the quarter, compared to the consensus estimate of $464.56 million. During the same period last year, the company posted ($0.07) earnings per share. The business’s revenue was up 57.7% on a year-over-year basis. As a group, equities analysts anticipate that Symbotic Inc. will post -0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SYM. The Goldman Sachs Group decreased their price objective on Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. TD Cowen cut their price target on Symbotic from $55.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Robert W. Baird cut their price target on Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 target price on shares of Symbotic in a report on Tuesday, July 30th. Finally, Citigroup dropped their price objective on Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.23.

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.