Raymond James & Associates Has $14.86 Million Position in Symbotic Inc. (NASDAQ:SYM)

Raymond James & Associates reduced its stake in shares of Symbotic Inc. (NASDAQ:SYM - Free Report) by 8.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 609,041 shares of the company's stock after selling 59,062 shares during the period. Raymond James & Associates owned approximately 0.10% of Symbotic worth $14,855,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Symbotic by 16.6% during the first quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company's stock worth $109,189,000 after buying an additional 345,386 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Symbotic by 191.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company's stock worth $27,281,000 after purchasing an additional 509,700 shares during the last quarter. Blair William & Co. IL raised its holdings in Symbotic by 418.1% in the 1st quarter. Blair William & Co. IL now owns 33,365 shares of the company's stock valued at $1,501,000 after buying an additional 26,925 shares during the period. Comerica Bank lifted its position in Symbotic by 1,347.0% in the first quarter. Comerica Bank now owns 16,641 shares of the company's stock valued at $749,000 after buying an additional 15,491 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Symbotic by 6,694.5% during the second quarter. Millennium Management LLC now owns 335,649 shares of the company's stock valued at $11,801,000 after acquiring an additional 330,709 shares during the last quarter.

Insider Buying and Selling at Symbotic

In other Symbotic news, insider Michael David Dunn sold 1,715 shares of the company's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $28.77, for a total value of $49,340.55. Following the completion of the transaction, the insider now owns 87,922 shares in the company, valued at approximately $2,529,515.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Michael David Dunn sold 1,715 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $28.77, for a total value of $49,340.55. Following the completion of the transaction, the insider now owns 87,922 shares in the company, valued at $2,529,515.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Merline Saintil sold 5,250 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $28.70, for a total transaction of $150,675.00. Following the completion of the sale, the director now directly owns 74,562 shares of the company's stock, valued at approximately $2,139,929.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,231 shares of company stock worth $775,639. 38.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on SYM. Deutsche Bank Aktiengesellschaft upped their price objective on Symbotic from $58.00 to $59.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. Northland Securities dropped their price target on Symbotic from $60.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 30th. Robert W. Baird cut their price target on shares of Symbotic from $53.00 to $41.00 and set an "outperform" rating for the company in a report on Wednesday, July 31st. BWS Financial restated a "sell" rating and set a $10.00 target price on shares of Symbotic in a research report on Friday, October 11th. Finally, Craig Hallum dropped their target price on shares of Symbotic from $54.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $43.23.

Symbotic Stock Performance

Shares of SYM stock traded down $1.16 during mid-day trading on Friday, reaching $27.42. 1,434,647 shares of the company were exchanged, compared to its average volume of 1,599,124. The company has a market capitalization of $16.03 billion, a P/E ratio of -114.25 and a beta of 1.84. The business's 50 day simple moving average is $23.82 and its 200 day simple moving average is $32.29. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $59.82.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). The firm had revenue of $491.86 million for the quarter, compared to analyst estimates of $464.56 million. Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. The business's revenue was up 57.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) earnings per share. On average, analysts forecast that Symbotic Inc. will post -0.08 EPS for the current year.

Symbotic 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.