15,000 Shares in Symbotic Inc. (NASDAQ:SYM) Purchased by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE bought a new position in Symbotic Inc. (NASDAQ:SYM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,000 shares of the company's stock, valued at approximately $356,000.

Several other hedge funds have also modified their holdings of SYM. IFP Advisors Inc boosted its position in shares of Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after purchasing an additional 503 shares in the last quarter. Private Trust Co. NA acquired a new stake in Symbotic in the fourth quarter worth about $47,000. Jones Financial Companies Lllp grew its stake in shares of Symbotic by 154.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock worth $58,000 after acquiring an additional 1,490 shares during the last quarter. Quest Partners LLC increased 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 in the last quarter. Finally, MCF Advisors LLC purchased a new position in shares of Symbotic in the 4th quarter valued at approximately $85,000.

Insider Transactions at Symbotic

In other Symbotic news, insider Michael David Dunn sold 1,971 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $30.00, for a total transaction of $59,130.00. Following the completion of the sale, the insider now directly owns 22,301 shares in the company, valued at approximately $669,030. The trade was a 8.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William M. Boyd III sold 2,455 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $22.31, for a total value of $54,771.05. Following the transaction, the insider now directly owns 39,659 shares of the company's stock, valued at $884,792.29. The trade was a 5.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,442 shares of company stock valued at $2,120,023 in the last three months. 0.60% of the stock is currently owned by company insiders.

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Symbotic Trading Up 3.4 %

SYM traded up $0.69 on Tuesday, reaching $20.90. The stock had a trading volume of 1,053,033 shares, compared to its average volume of 1,889,018. The business's 50-day moving average price is $25.34 and its two-hundred day moving average price is $26.73. The company has a market cap of $12.30 billion, a P/E ratio of -298.53, a price-to-earnings-growth 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 $48.98.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. As a group, analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. UBS Group dropped their target price on shares of Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. DA Davidson raised Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a research report on Wednesday, January 8th. BWS Financial reaffirmed a "sell" rating and set a $10.00 price target on shares of Symbotic in a research report on Tuesday, January 21st. Oppenheimer initiated coverage on Symbotic in a report on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 price objective on the stock. Finally, Citigroup reaffirmed a "buy" rating and set a $37.00 target price on shares of Symbotic in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Symbotic presently has an average rating of "Hold" and a consensus target price of $38.20.

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.