33,805 Shares in Symbotic Inc. (NASDAQ:SYM) Acquired by Capital Market Strategies LLC

Capital Market Strategies LLC bought a new position in Symbotic Inc. (NASDAQ:SYM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 33,805 shares of the company’s stock, valued at approximately $802,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Symbotic by 9.6% during the second quarter. Bank of New York Mellon Corp now owns 80,707 shares of the company’s stock worth $2,838,000 after buying an additional 7,058 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Symbotic by 21.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,309 shares of the company’s stock worth $222,000 after buying an additional 1,130 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Symbotic by 51.1% during the second quarter. Commonwealth Equity Services LLC now owns 30,996 shares of the company’s stock worth $1,090,000 after buying an additional 10,477 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Symbotic by 109.5% during the second quarter. Van ECK Associates Corp now owns 2,723 shares of the company’s stock worth $96,000 after purchasing an additional 1,423 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Symbotic by 114.3% in the 2nd quarter. Arizona State Retirement System now owns 9,863 shares of the company’s stock valued at $347,000 after acquiring an additional 5,261 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Craig Hallum lowered shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research note on Wednesday, November 27th. UBS Group dropped their target price on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday. Northland Securities raised their price objective on shares of Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. William Blair reiterated a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.79.

Insider Buying and Selling at Symbotic

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $28.15, for a total value of $56,300.00. Following the completion of the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at approximately $6,025,113.40. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael David Dunn sold 1,715 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $28.77, for a total transaction of $49,340.55. Following the transaction, the insider now owns 87,922 shares of the company’s stock, valued at $2,529,515.94. This trade represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,844 shares of company stock valued at $3,220,351 in the last 90 days. Company insiders own 38.30% of the company’s stock.

Symbotic Price Performance

Symbotic stock traded up $2.03 during midday trading on Monday, reaching $27.67. The company had a trading volume of 1,474,231 shares, compared to its average volume of 1,284,840. The firm’s fifty day simple moving average is $28.58 and its 200-day simple moving average is $27.98. The company has a market capitalization of $16.25 billion, a P/E ratio of -461.17 and a beta of 1.73. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $52.20.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The business had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. During the same quarter in the previous year, the firm earned ($0.08) EPS. The company’s quarterly revenue was up 47.2% compared to the same quarter last year. On average, analysts expect that Symbotic Inc. will post 0.12 EPS for the current fiscal 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.