Advisors Asset Management Inc. Acquires 2,544 Shares of Symbotic Inc. (NASDAQ:SYM)

Advisors Asset Management Inc. lifted its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 30.6% in the third quarter, Holdings Channel.com reports. The fund owned 10,869 shares of the company’s stock after purchasing an additional 2,544 shares during the quarter. Advisors Asset Management Inc.’s holdings in Symbotic were worth $265,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Prospera Financial Services Inc bought a new position in shares of Symbotic during the 3rd quarter worth approximately $464,000. Quest Partners LLC lifted its holdings in shares of Symbotic by 19,307.7% during the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after acquiring an additional 2,510 shares during the period. RiverPark Advisors LLC boosted its stake in shares of Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after purchasing an additional 1,211 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Symbotic by 76.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,131 shares of the company’s stock worth $320,000 after purchasing an additional 5,694 shares during the last quarter. Finally, Baillie Gifford & Co. increased its position in shares of Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after purchasing an additional 3,410,050 shares in the last quarter.

Symbotic Trading Down 35.8 %

Symbotic stock opened at $24.00 on Friday. The firm has a market capitalization of $14.05 billion, a P/E ratio of -400.00 and a beta of 1.81. The business has a 50-day moving average of $28.94 and a 200-day moving average of $30.72. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $59.82.

Symbotic (NASDAQ:SYM) last issued its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.54%. The business’s quarterly revenue was up 47.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. Research analysts anticipate that Symbotic Inc. will post 0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SYM shares. KeyCorp restated a “sector weight” rating on shares of Symbotic in a research report on Wednesday. Northland Securities increased their price target on Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Needham & Company LLC cut their price objective on Symbotic from $46.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 target price on shares of Symbotic in a report on Tuesday, November 19th. Finally, DA Davidson cut Symbotic from a “buy” rating to a “neutral” rating and cut their price target for the company from $50.00 to $35.00 in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.69.

Insider Buying and Selling

In other Symbotic news, insider Michael David Dunn sold 1,715 shares of Symbotic stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $28.77, for a total value of $49,340.55. Following the transaction, the insider now owns 87,922 shares of the company’s stock, valued at approximately $2,529,515.94. The trade was a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total transaction of $37,500.00. Following the sale, the director now directly owns 214,036 shares of the company’s stock, valued at $4,013,175. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,878 shares of company stock valued at $1,378,056. 38.30% of the stock is owned by company insiders.

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.