Y Intercept Hong Kong Ltd Invests $5.50 Million in Symbotic Inc. $SYM

Y Intercept Hong Kong Ltd purchased a new position in Symbotic Inc. (NASDAQ:SYM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 141,664 shares of the company’s stock, valued at approximately $5,504,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amanah Holdings Trust purchased a new stake in shares of Symbotic in the second quarter worth about $19,824,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Symbotic by 21.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,248 shares of the company’s stock worth $348,000 after purchasing an additional 3,024 shares during the last quarter. Amundi increased its position in shares of Symbotic by 53.0% in the first quarter. Amundi now owns 72,192 shares of the company’s stock worth $1,459,000 after purchasing an additional 24,993 shares during the last quarter. ARK Investment Management LLC increased its position in shares of Symbotic by 13.3% in the second quarter. ARK Investment Management LLC now owns 445,498 shares of the company’s stock worth $17,308,000 after purchasing an additional 52,205 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Symbotic by 35.7% in the first quarter. Bank of New York Mellon Corp now owns 60,554 shares of the company’s stock worth $1,224,000 after purchasing an additional 15,947 shares during the last quarter.

Analysts Set New Price Targets

SYM has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Symbotic from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research report on Friday, July 18th. DA Davidson restated a “neutral” rating and issued a $47.00 price objective (up from $35.00) on shares of Symbotic in a research report on Monday, August 25th. Arete Research cut shares of Symbotic from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Arete cut shares of Symbotic from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research report on Friday, July 25th. Finally, Wall Street Zen upgraded shares of Symbotic from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Seven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $44.61.

Insider Activity

In other news, major shareholder Millennium Gst Non-Exempt Rbc sold 220,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $46.45, for a total transaction of $10,219,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Todd Krasnow sold 4,000 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $67.02, for a total value of $268,080.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 490,830 shares of company stock valued at $25,190,461. Corporate insiders own 0.60% of the company’s stock.

Symbotic Price Performance

Shares of NASDAQ SYM opened at $70.69 on Tuesday. Symbotic Inc. has a one year low of $16.32 and a one year high of $79.58. The firm’s 50 day simple moving average is $56.45 and its two-hundred day simple moving average is $43.29. The stock has a market capitalization of $41.74 billion, a P/E ratio of -1,009.71, a PEG ratio of 10.96 and a beta of 2.06.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.08). The company had revenue of $592.12 million for the quarter, compared to analysts’ expectations of $533.55 million. Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period last year, the company posted ($0.02) EPS. As a group, equities analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

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.