Cubist Systematic Strategies LLC Purchases 113,696 Shares of Symbotic Inc. (NASDAQ:SYM)

Cubist Systematic Strategies LLC grew its position in shares of Symbotic Inc. (NASDAQ:SYM) by 327.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,380 shares of the company’s stock after purchasing an additional 113,696 shares during the period. Cubist Systematic Strategies LLC’s holdings in Symbotic were worth $5,217,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its stake in shares of Symbotic by 12.4% in the 2nd quarter. Baillie Gifford & Co. now owns 10,660,949 shares of the company’s stock valued at $374,839,000 after acquiring an additional 1,177,578 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Symbotic by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after acquiring an additional 345,386 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Symbotic by 189.5% in the 4th quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock valued at $54,174,000 after acquiring an additional 690,900 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Symbotic by 191.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after acquiring an additional 509,700 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in shares of Symbotic by 8.4% in the 2nd quarter. Raymond James & Associates now owns 668,103 shares of the company’s stock valued at $23,491,000 after acquiring an additional 51,712 shares during the last quarter.

Symbotic Price Performance

NASDAQ:SYM opened at $25.52 on Friday. Symbotic Inc. has a one year low of $17.11 and a one year high of $59.82. The company’s 50-day simple moving average is $24.34 and its 200 day simple moving average is $35.13. The firm has a market capitalization of $14.94 billion, a P/E ratio of -106.33 and a beta of 1.81.

Symbotic (NASDAQ:SYM) last posted 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 positive return on equity of 4.08% and a negative net margin of 1.03%. The business had revenue of $491.86 million for the quarter, compared to the consensus estimate of $464.56 million. During the same period in the previous year, the firm earned ($0.07) EPS. The company’s revenue was up 57.7% on a year-over-year basis. On average, equities research analysts expect that Symbotic Inc. will post -0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SYM. Needham & Company LLC reduced their price target on Symbotic from $54.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Robert W. Baird reduced 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. Citigroup reduced their price target on Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 price target on shares of Symbotic in a report on Tuesday, July 30th. Finally, Northland Securities reduced their price target on Symbotic from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.23.

Insider Buying and Selling

In other Symbotic news, Director Todd Krasnow sold 17,000 shares of Symbotic stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $21.46, for a total value of $364,820.00. Following the completion of the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at $4,593,212.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Symbotic news, insider Michael David Dunn sold 5,188 shares of Symbotic stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $35.49, for a total value of $184,122.12. Following the completion of the transaction, the insider now directly owns 76,808 shares of the company’s stock, valued at $2,725,915.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Todd Krasnow sold 17,000 shares of Symbotic stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $21.46, for a total transaction of $364,820.00. Following the completion of the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at $4,593,212.56. The disclosure for this sale can be found here. Insiders have sold 38,909 shares of company stock valued at $1,148,358 over the last quarter. Corporate insiders own 38.30% of the company’s stock.

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.