GSA Capital Partners LLP Acquires New Position in Symbotic Inc. (NASDAQ:SYM)

GSA Capital Partners LLP acquired a new stake in shares of Symbotic Inc. (NASDAQ:SYM) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 24,681 shares of the company’s stock, valued at approximately $602,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Advisors Asset Management Inc. lifted its stake in Symbotic by 11.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $123,000 after acquiring an additional 284 shares during the period. RFP Financial Group LLC lifted its stake in Symbotic by 22.4% during the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock valued at $59,000 after acquiring an additional 310 shares during the period. Castleview Partners LLC lifted its stake in Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares during the period. California State Teachers Retirement System lifted its stake in Symbotic by 4.5% during the 1st quarter. California State Teachers Retirement System now owns 15,057 shares of the company’s stock valued at $678,000 after acquiring an additional 654 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Symbotic by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock valued at $304,000 after acquiring an additional 679 shares during the period.

Insider Buying and Selling at Symbotic

In related news, CFO Carol J. Hibbard sold 22,821 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total value of $660,896.16. Following the completion of the transaction, the chief financial officer now directly owns 34,188 shares of the company’s stock, valued at approximately $990,084.48. This trade represents a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael David Dunn sold 1,715 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $28.77, for a total transaction of $49,340.55. Following the completion of the transaction, the insider now directly owns 87,922 shares of the company’s stock, valued at approximately $2,529,515.94. This trade represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,878 shares of company stock valued at $1,378,056 in the last three months. 38.30% of the stock is currently owned by corporate insiders.

Symbotic Price Performance

Shares of SYM opened at $30.56 on Tuesday. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $59.82. The company has a 50 day simple moving average of $26.75 and a two-hundred day simple moving average of $31.16. The firm has a market cap of $17.90 billion, a P/E ratio of -160.84 and a beta of 1.81.

Wall Street Analyst Weigh In

Several research firms have issued reports on SYM. Needham & Company LLC lowered their target price on shares of Symbotic from $54.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Citigroup lowered their price objective on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a research note on Friday, October 11th. Finally, Northland Securities lowered their price objective on shares of Symbotic from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.