Pilgrim Partners Asia Pte Ltd Takes $47,000 Position in Symbotic Inc. (NASDAQ:SYM)

Pilgrim Partners Asia Pte Ltd bought a new position in shares of Symbotic Inc. (NASDAQ:SYM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,980 shares of the company’s stock, valued at approximately $47,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Symbotic by 41.3% in the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock worth $117,846,000 after purchasing an additional 1,452,627 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Symbotic in the fourth quarter worth approximately $20,754,000. TCW Group Inc. increased its holdings in shares of Symbotic by 51.7% in the fourth quarter. TCW Group Inc. now owns 582,955 shares of the company’s stock valued at $13,822,000 after buying an additional 198,681 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Symbotic by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 505,114 shares of the company’s stock valued at $11,981,000 after buying an additional 1,356 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Symbotic by 2.6% during the 3rd quarter. State Street Corp now owns 319,235 shares of the company’s stock valued at $7,786,000 after acquiring an additional 7,990 shares during the last quarter.

Insiders Place Their Bets

In other news, insider Michael David Dunn sold 3,635 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $33.28, for a total transaction of $120,972.80. Following the transaction, the insider now owns 24,272 shares of the company’s stock, valued at approximately $807,772.16. This represents a 13.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William M. Boyd III sold 2,455 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $22.31, for a total value of $54,771.05. Following the completion of the sale, the insider now owns 39,659 shares of the company’s stock, valued at approximately $884,792.29. This trade represents a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,117 shares of company stock valued at $1,985,334 over the last three months. 0.60% of the stock is currently owned by insiders.

Symbotic Price Performance

SYM opened at $17.50 on Friday. The company has a market capitalization of $10.30 billion, a PE ratio of -249.96, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85. The business has a 50-day moving average of $24.28 and a 200-day moving average of $26.61. Symbotic Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $48.98.

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 negative net margin of 0.38% and a positive return on equity of 5.11%. On average, equities research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SYM shares. Northland Securities boosted 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. Citigroup restated a “buy” rating and set a $37.00 price objective on shares of Symbotic in a report on Monday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a report on Thursday, February 6th. Raymond James lowered shares of Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. Finally, BWS Financial reaffirmed a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a research note on Wednesday. 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.