Raymond James Financial Inc. acquired a new stake in Symbotic Inc. (NASDAQ:SYM - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 875,306 shares of the company's stock, valued at approximately $20,754,000. Raymond James Financial Inc. owned approximately 0.15% of Symbotic as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. IFP Advisors Inc increased its stake in Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock valued at $32,000 after purchasing an additional 503 shares in the last quarter. Private Trust Co. NA bought a new stake in Symbotic during the 4th quarter valued at $47,000. RiverPark Advisors LLC increased its stake in Symbotic by 147.1% during 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. Jones Financial Companies Lllp increased its stake in Symbotic by 154.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock valued at $58,000 after purchasing an additional 1,490 shares in the last quarter. Finally, Quest Partners LLC increased its stake in Symbotic by 19,307.7% during the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company's stock valued at $62,000 after purchasing an additional 2,510 shares in the last quarter.
Insider Buying and Selling at Symbotic
In other news, Director Rollin L. Ford sold 28,740 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.02, for a total transaction of $747,814.80. Following the sale, the director now directly owns 10,447 shares in the company, valued at $271,830.94. This represents a 73.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider William M. Boyd III sold 2,455 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $22.31, for a total value of $54,771.05. Following the sale, the insider now owns 39,659 shares in the company, valued at approximately $884,792.29. This represents a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,442 shares of company stock valued at $2,120,023 over the last three months. 0.60% of the stock is currently owned by insiders.
Analysts Set New Price Targets
SYM has been the subject of a number of recent research reports. BWS Financial restated a "sell" rating and set a $10.00 price target on shares of Symbotic in a research note on Tuesday, January 21st. DA Davidson raised shares of Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 price objective on the stock in a report on Wednesday, January 8th. Needham & Company LLC cut their price objective on shares of Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Craig Hallum downgraded shares of Symbotic from a "buy" rating to a "hold" rating and set a $25.00 price objective on the stock. in a report on Wednesday, November 27th. Finally, TD Cowen lifted their price objective on shares of Symbotic from $43.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $38.20.
View Our Latest Stock Report on Symbotic
Symbotic Stock Performance
NASDAQ SYM traded up $0.15 during trading on Thursday, hitting $21.65. 755,537 shares of the company's stock traded hands, compared to its average volume of 1,876,667. The stock has a market capitalization of $12.74 billion, a price-to-earnings ratio of -309.24, a PEG ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $50.41. The business has a 50 day moving average of $26.24 and a 200-day moving average of $26.49.
Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. On average, analysts expect that Symbotic Inc. will post 0.13 EPS for the current year.
About Symbotic
(
Free Report)
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.
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