Allianz SE Invests $854,000 in Symbotic Inc. (NASDAQ:SYM)

Allianz SE acquired a new stake in Symbotic Inc. (NASDAQ:SYM) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 35,072 shares of the company’s stock, valued at approximately $854,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of Symbotic by 100.6% during the fourth quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company’s stock worth $411,000 after purchasing an additional 3,110,075 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Symbotic by 11.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 16,451 shares of the company’s stock valued at $422,000 after acquiring an additional 1,646 shares during the period. Congress Wealth Management LLC DE bought a new position in shares of Symbotic in the 4th quarter valued at about $356,000. Vanguard Group Inc. grew its holdings in Symbotic by 41.3% during the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock worth $117,846,000 after acquiring an additional 1,452,627 shares during the period. Finally, LPL Financial LLC increased its holdings in Symbotic by 31.5% in the fourth quarter. LPL Financial LLC now owns 43,167 shares of the company’s stock valued at $1,023,000 after purchasing an additional 10,341 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on SYM. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research note on Thursday, February 6th. Raymond James cut Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. DA Davidson upgraded Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, January 8th. Oppenheimer started coverage on shares of Symbotic in a report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, UBS Group dropped their price objective on Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $38.20.

Insider Buying and Selling at Symbotic

In related news, insider Michael David Dunn sold 5,365 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $24.60, for a total transaction of $131,979.00. Following the completion of the transaction, the insider now owns 31,860 shares of the company’s stock, valued at $783,756. This trade represents a 14.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William M. Boyd III sold 2,660 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $27.60, for a total value of $73,416.00. Following the completion of the transaction, the insider now owns 40,812 shares of the company’s stock, valued at $1,126,411.20. This represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,442 shares of company stock worth $2,120,023 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Symbotic Trading Down 6.3 %

NASDAQ:SYM opened at $20.16 on Monday. The firm’s 50 day moving average is $25.53 and its 200 day moving average is $26.73. Symbotic Inc. has a 12 month low of $17.11 and a 12 month high of $48.98. The stock has a market capitalization of $11.86 billion, a PE ratio of -287.96, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping 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%. Research analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.

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.