Natixis Investment Managers International Buys New Holdings in Symbotic Inc. (NASDAQ:SYM)

Natixis Investment Managers International bought a new stake in shares of Symbotic Inc. (NASDAQ:SYM) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 2,001 shares of the company’s stock, valued at approximately $90,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYM. Van ECK Associates Corp bought a new stake in Symbotic during the 4th quarter valued at approximately $26,000. RiverPark Advisors LLC bought a new stake in Symbotic during the 1st quarter valued at approximately $37,000. Global Retirement Partners LLC raised its stake in Symbotic by 166.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock valued at $48,000 after purchasing an additional 660 shares during the period. Pingora Partners LLC bought a new stake in Symbotic during the 4th quarter valued at approximately $51,000. Finally, RFP Financial Group LLC raised its stake in Symbotic by 21.2% during the 1st quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock valued at $62,000 after purchasing an additional 242 shares during the period.

Insider Buying and Selling at Symbotic

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $40.92, for a total value of $81,840.00. Following the transaction, the director now owns 214,036 shares of the company’s stock, valued at approximately $8,758,353.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Michael David Dunn sold 5,188 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total transaction of $184,122.12. Following the transaction, the insider now owns 76,808 shares of the company’s stock, valued at approximately $2,725,915.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $40.92, for a total value of $81,840.00. Following the transaction, the director now directly owns 214,036 shares in the company, valued at approximately $8,758,353.12. The disclosure for this sale can be found here. Insiders have sold 152,106 shares of company stock valued at $6,045,053 in the last quarter. 38.30% of the stock is owned by insiders.

Symbotic Stock Up 4.6 %

SYM traded up $1.65 during trading hours on Thursday, reaching $37.84. 1,548,848 shares of the company’s stock traded hands, compared to its average volume of 1,362,547. The firm has a 50-day moving average price of $37.83 and a 200 day moving average price of $41.38. The firm has a market capitalization of $22.12 billion, a PE ratio of -157.66 and a beta of 1.87. Symbotic Inc. has a 52-week low of $29.62 and a 52-week high of $64.14.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.25. The company had revenue of $424.30 million for the quarter, compared to the consensus estimate of $415.98 million. Symbotic had a positive return on equity of 5.27% and a negative net margin of 1.27%. Equities analysts predict that Symbotic Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SYM has been the topic of a number of research reports. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research note on Friday, May 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Craig Hallum lifted their price objective on Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. The Goldman Sachs Group reduced their price objective on Symbotic from $46.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Vertical Research initiated coverage on Symbotic in a research note on Tuesday. They issued a “hold” rating and a $45.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Symbotic currently has an average rating of “Moderate Buy” and an average price target of $52.50.

Symbotic 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.