Taylor Frigon Capital Management LLC Boosts Position in Symbotic Inc. (NASDAQ:SYM)

Taylor Frigon Capital Management LLC boosted its holdings in Symbotic Inc. (NASDAQ:SYM) by 18.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 83,233 shares of the company’s stock after purchasing an additional 13,104 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Symbotic were worth $1,973,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Alberta Investment Management Corp acquired a new stake in Symbotic in the fourth quarter valued at approximately $586,000. Geode Capital Management LLC grew 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 acquiring an additional 46,721 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Symbotic in the third quarter valued at approximately $1,029,000. Capital Market Strategies LLC acquired a new stake in Symbotic in the fourth quarter valued at approximately $802,000. Finally, Baillie Gifford & Co. grew its position in shares of Symbotic by 32.0% during the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $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 William M. Boyd III sold 2,660 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $27.60, for a total value of $73,416.00. Following the sale, the insider now directly owns 40,812 shares in the company, valued at approximately $1,126,411.20. This trade represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rollin L. Ford sold 28,740 shares of Symbotic stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.02, for a total transaction of $747,814.80. Following the sale, the director now owns 10,447 shares in the company, valued at approximately $271,830.94. This represents a 73.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,854 shares of company stock worth $3,986,371. 0.60% of the stock is owned by insiders.

Symbotic Price Performance

Symbotic stock opened at $23.72 on Thursday. 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 12 month low of $17.11 and a 12 month high of $50.40. The company has a fifty day moving average price of $27.12 and a two-hundred day moving average price of $26.52.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. BWS Financial reissued a “sell” rating and set a $10.00 price target on shares of Symbotic in a research report on Tuesday, January 21st. Raymond James downgraded shares of Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. 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. KeyCorp reissued a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. Finally, Oppenheimer assumed coverage on shares of Symbotic in a research report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $38.20.

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.