Symbotic Inc. (NASDAQ:SYM) Holdings Lifted by Washington Harbour Partners LP

Washington Harbour Partners LP increased its holdings in Symbotic Inc. (NASDAQ:SYM) by 45.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,300 shares of the company’s stock after acquiring an additional 26,700 shares during the period. Symbotic comprises about 6.2% of Washington Harbour Partners LP’s holdings, making the stock its 6th largest holding. Washington Harbour Partners LP’s holdings in Symbotic were worth $3,838,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SYM. Baillie Gifford & Co. purchased a new position in shares of Symbotic during the 1st quarter valued at $426,752,000. 1832 Asset Management L.P. grew its stake in Symbotic by 189.5% in the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock valued at $54,174,000 after purchasing an additional 690,900 shares in the last quarter. Vanguard Group Inc. grew its stake in Symbotic by 16.6% in the first quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after purchasing an additional 345,386 shares in the last quarter. Zevenbergen Capital Investments LLC increased its position in Symbotic by 1,826.2% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 361,167 shares of the company’s stock worth $16,253,000 after purchasing an additional 342,417 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Symbotic during the 1st quarter valued at about $12,219,000.

Symbotic Stock Performance

NASDAQ:SYM traded down $2.20 during mid-day trading on Thursday, hitting $24.61. The company had a trading volume of 2,708,196 shares, compared to its average volume of 1,437,089. Symbotic Inc. has a fifty-two week low of $24.21 and a fifty-two week high of $62.37. The firm has a market cap of $14.39 billion, a P/E ratio of -102.54 and a beta of 1.87. The business’s fifty day moving average is $36.60 and its two-hundred day moving average is $40.95.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, July 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). The firm had revenue of $491.86 million during the quarter, compared to analyst estimates of $464.56 million. Symbotic had a negative net margin of 1.03% and a positive return on equity of 5.05%. Symbotic’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period last year, the firm earned ($0.07) EPS. Equities analysts forecast that Symbotic Inc. will post -0.03 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on SYM shares. BWS Financial restated a “sell” rating and set a $10.00 target price on shares of Symbotic in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a research note on Tuesday. The Goldman Sachs Group decreased their target price on Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, KeyCorp decreased their price objective on shares of Symbotic from $55.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Symbotic currently has an average rating of “Moderate Buy” and a consensus target price of $44.79.

Insider Buying and Selling at Symbotic

In related news, major shareholder Janet L. Cohen sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $43.26, for a total value of $1,081,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Janet L. Cohen sold 25,000 shares of Symbotic stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $43.26, for a total value of $1,081,500.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder David A. Ladensohn sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $40.89, for a total value of $2,044,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 150,107 shares of company stock valued at $5,950,707. 38.30% of the stock is currently owned by corporate insiders.

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.