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 Form 13F filing with the SEC. The institutional investor acquired 875,306 shares of the company's stock, valued at approximately $20,754,000. Raymond James Financial Inc. owned about 0.15% of Symbotic at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Alberta Investment Management Corp bought a new stake in Symbotic during the 4th quarter worth $586,000. Geode Capital Management LLC boosted its stake in shares of Symbotic by 10.2% during the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company's stock valued at $12,290,000 after purchasing an additional 46,721 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Symbotic during the third quarter worth about $1,029,000. Capital Market Strategies LLC acquired a new position in shares of Symbotic in the fourth quarter valued at approximately $802,000. Finally, Vanguard Group Inc. raised its holdings in Symbotic by 41.3% in the 4th quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock valued at $117,846,000 after buying an additional 1,452,627 shares during the last quarter.
Symbotic Stock Performance
Shares of NASDAQ SYM traded up $0.35 during midday trading on Thursday, hitting $21.51. 265,869 shares of the stock traded hands, compared to its average volume of 1,928,050. Symbotic Inc. has a one year low of $16.32 and a one year high of $48.98. The business has a 50 day moving average price of $21.71 and a two-hundred day moving average price of $26.15. The company has a market cap of $12.66 billion, a PE ratio of -307.24, a P/E/G ratio of 6.48 and a beta of 1.86.
Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping 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%. As a group, equities research analysts forecast that Symbotic Inc. will post 0.13 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have issued reports on SYM shares. DA Davidson upgraded shares of Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 price target for the company in a research report on Wednesday, January 8th. Cantor Fitzgerald restated an "overweight" rating and issued a $60.00 price objective on shares of Symbotic in a report on Thursday, February 6th. The Goldman Sachs Group cut their target price on Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Raymond James lowered Symbotic from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. Finally, Oppenheimer assumed coverage on Symbotic in a research report on Wednesday, January 15th. They set an "outperform" rating and a $35.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Symbotic has an average rating of "Hold" and an average price target of $37.20.
View Our Latest Research Report on SYM
Insider Buying and Selling at Symbotic
In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $17.51, for a total value of $35,020.00. Following the completion of the sale, the director now owns 194,036 shares in the company, valued at approximately $3,397,570.36. This trade represents a 1.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William M. Boyd III sold 2,660 shares of Symbotic stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $20.62, for a total transaction of $54,849.20. Following the transaction, the insider now directly owns 36,999 shares in the company, valued at approximately $762,919.38. This represents a 6.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,663 shares of company stock worth $1,653,063. Insiders own 0.60% of the company's stock.
Symbotic Profile
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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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