16,624 Shares in Symbotic Inc. $SYM Acquired by Entropy Technologies LP

Entropy Technologies LP purchased a new stake in Symbotic Inc. (NASDAQ:SYM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,624 shares of the company’s stock, valued at approximately $884,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYM. Federation des caisses Desjardins du Quebec grew its stake in Symbotic by 5.2% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,493 shares of the company’s stock worth $267,000 after buying an additional 224 shares during the period. Barton Investment Management raised its stake in shares of Symbotic by 0.8% in the 4th quarter. Barton Investment Management now owns 30,658 shares of the company’s stock valued at $1,824,000 after acquiring an additional 233 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Symbotic by 2.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 11,375 shares of the company’s stock valued at $677,000 after acquiring an additional 236 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Symbotic by 67.3% during the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after acquiring an additional 249 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Symbotic by 4.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,753 shares of the company’s stock valued at $342,000 after acquiring an additional 266 shares in the last quarter.

Insider Transactions at Symbotic

In other news, Director Todd Krasnow sold 25,422 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $52.45, for a total transaction of $1,333,383.90. Following the completion of the sale, the director directly owned 182,036 shares in the company, valued at $9,547,788.20. This trade represents a 12.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Maria G. Freve sold 2,244 shares of Symbotic stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $40.28, for a total value of $90,388.32. Following the sale, the insider directly owned 3,096 shares in the company, valued at approximately $124,706.88. The trade was a 42.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 115,970 shares of company stock worth $5,561,616 over the last three months. Insiders own 8.16% of the company’s stock.

Symbotic Stock Up 2.0%

SYM opened at $42.34 on Wednesday. The firm has a market capitalization of $25.52 billion, a P/E ratio of -846.63, a P/E/G ratio of 6.12 and a beta of 1.93. The firm’s 50 day moving average is $44.00 and its 200-day moving average is $51.98. Symbotic Inc. has a 52-week low of $38.19 and a 52-week high of $87.88.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). The firm had revenue of $676.48 million for the quarter, compared to analyst estimates of $662.65 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.04) earnings per share. Equities analysts expect that Symbotic Inc. will post 0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a research report on Tuesday, May 26th. Weiss Ratings lowered Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Zacks Research cut Symbotic from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $70.00 target price on shares of Symbotic in a research report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.50.

About Symbotic

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.