Levin Capital Strategies L.P. Purchases Shares of 10,000 Symbotic Inc. (NASDAQ:SYM)

Levin Capital Strategies L.P. acquired a new position in shares of Symbotic Inc. (NASDAQ:SYM) during the second quarter, Holdings Channel reports. The fund acquired 10,000 shares of the company’s stock, valued at approximately $352,000.

Other large investors also recently made changes to their positions in the company. RFP Financial Group LLC grew its position in Symbotic by 21.2% in the 1st quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock valued at $62,000 after purchasing an additional 242 shares during the period. Advisors Asset Management Inc. increased its position in shares of Symbotic by 11.6% during the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $123,000 after acquiring an additional 284 shares in the last quarter. Natixis Advisors L.P. increased its holdings in Symbotic by 4.3% during the 4th quarter. Natixis Advisors L.P. now owns 10,983 shares of the company’s stock worth $563,000 after purchasing an additional 456 shares in the last quarter. Van ECK Associates Corp purchased a new position in Symbotic during the fourth quarter worth about $26,000. Finally, California State Teachers Retirement System grew its position in Symbotic by 4.5% in the 1st quarter. California State Teachers Retirement System now owns 15,057 shares of the company’s stock worth $678,000 after purchasing an additional 654 shares in the last quarter.

Symbotic Stock Performance

Symbotic stock opened at $18.41 on Tuesday. The stock has a market cap of $10.78 billion, a P/E ratio of -76.71 and a beta of 1.82. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $59.82. The firm’s fifty day moving average price is $28.20 and its 200-day moving average price is $36.72.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.04). The business had revenue of $491.86 million for the quarter, compared to analysts’ expectations of $464.56 million. Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. The firm’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. Sell-side analysts predict that Symbotic Inc. will post -0.08 earnings per share for the current year.

Insider Activity

In other Symbotic news, Director Todd Krasnow sold 17,000 shares of Symbotic stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $21.46, for a total transaction of $364,820.00. Following the completion of the sale, the director now owns 214,036 shares of the company’s stock, valued at $4,593,212.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Todd Krasnow sold 17,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $21.46, for a total value of $364,820.00. Following the completion of the sale, the director now directly owns 214,036 shares in the company, valued at approximately $4,593,212.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael David Dunn sold 1,895 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $36.56, for a total transaction of $69,281.20. Following the transaction, the insider now directly owns 77,326 shares in the company, valued at approximately $2,827,038.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,909 shares of company stock worth $1,148,358. 38.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SYM has been the topic of several recent analyst reports. Needham & Company LLC dropped their target price on shares of Symbotic from $54.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. KeyCorp cut their price objective on Symbotic from $55.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. TD Cowen decreased their target price on Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Robert W. Baird cut their price target on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, Citigroup decreased their price target on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.23.

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.