Symbotic Inc. (NASDAQ:SYM) Position Boosted by M&T Bank Corp

M&T Bank Corp increased its holdings in Symbotic Inc. (NASDAQ:SYM) by 23.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,095 shares of the company’s stock after buying an additional 3,445 shares during the quarter. M&T Bank Corp’s holdings in Symbotic were worth $429,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SYM. Van ECK Associates Corp grew its holdings in Symbotic by 28.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock worth $85,000 after buying an additional 774 shares in the last quarter. Atria Investments Inc boosted its stake in Symbotic by 64.1% during the 3rd quarter. Atria Investments Inc now owns 10,950 shares of the company’s stock valued at $267,000 after purchasing an additional 4,277 shares in the last quarter. GSA Capital Partners LLP bought a new position in Symbotic during the 3rd quarter valued at $602,000. Oppenheimer & Co. Inc. boosted its stake in Symbotic by 76.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,131 shares of the company’s stock valued at $320,000 after purchasing an additional 5,694 shares in the last quarter. Finally, RiverPark Advisors LLC boosted its stake in Symbotic by 147.1% during the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after purchasing an additional 1,211 shares in the last quarter.

Insider Buying and Selling

In related news, CFO Carol J. Hibbard sold 4,055 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total transaction of $124,488.50. Following the completion of the sale, the chief financial officer now directly owns 44,386 shares in the company, valued at approximately $1,362,650.20. This trade represents a 8.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael David Dunn sold 1,971 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $30.00, for a total value of $59,130.00. Following the transaction, the insider now owns 22,301 shares in the company, valued at approximately $669,030. This trade represents a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,987 shares of company stock worth $2,065,252. Corporate insiders own 0.60% of the company’s stock.

Symbotic Stock Down 3.7 %

SYM opened at $20.56 on Friday. The stock has a fifty day moving average of $26.60 and a 200-day moving average of $26.42. The firm has a market capitalization of $12.10 billion, a P/E ratio of -293.67, a PEG ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $50.40.

Symbotic (NASDAQ:SYM) last released 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%. On average, analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on SYM shares. Northland Securities increased their price target on Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Raymond James lowered Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Symbotic in a research note on Wednesday, November 27th. Craig Hallum lowered Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research note on Wednesday, November 27th. Finally, Oppenheimer began coverage on Symbotic in a research note on Wednesday, January 15th. They set an “outperform” rating and a $35.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.20.

About Symbotic

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.