Symbotic Inc. (NASDAQ:SYM) Shares Acquired by Raymond James Trust N.A.

Raymond James Trust N.A. grew its stake in shares of Symbotic Inc. (NASDAQ:SYM) by 55.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 59,050 shares of the company’s stock after buying an additional 21,128 shares during the quarter. Raymond James Trust N.A.’s holdings in Symbotic were worth $1,440,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SYM. Castleview Partners LLC lifted its stake in shares of Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Symbotic during the 3rd quarter valued at $49,000. RiverPark Advisors LLC increased its holdings in 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. RFP Financial Group LLC lifted its stake in shares of Symbotic by 22.4% during the second quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock worth $59,000 after purchasing an additional 310 shares in the last quarter. Finally, Quest Partners LLC boosted its position in shares of Symbotic by 19,307.7% in the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after buying an additional 2,510 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SYM shares. Citigroup decreased their price target on Symbotic from $62.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. TD Cowen cut their target price on Symbotic from $55.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research note on Tuesday, November 19th. The Goldman Sachs Group decreased their price target on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Finally, Northland Securities raised their target price on shares of Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.31.

Insider Transactions at Symbotic

In related news, CFO Carol J. Hibbard sold 22,821 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total transaction of $660,896.16. Following the completion of the sale, the chief financial officer now directly owns 34,188 shares in the company, valued at approximately $990,084.48. This trade represents a 40.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction on 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 in the company, valued at $6,025,113.40. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,878 shares of company stock valued at $1,378,056. Corporate insiders own 38.30% of the company’s stock.

Symbotic Stock Up 6.9 %

SYM stock opened at $38.79 on Friday. The company has a 50-day simple moving average of $28.43 and a 200 day simple moving average of $31.13. The company has a market capitalization of $22.71 billion, a P/E ratio of -646.42 and a beta of 1.81. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $59.82.

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