Spire Wealth Management Acquires Shares of 12,584 Symbotic Inc. (NASDAQ:SYM)

Spire Wealth Management purchased a new stake in Symbotic Inc. (NASDAQ:SYM - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 12,584 shares of the company's stock, valued at approximately $298,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Castleview Partners LLC boosted its stake in Symbotic by 50.0% during 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 during the period. Arcadia Investment Management Corp MI acquired a new position in Symbotic during the 3rd quarter valued at about $49,000. RiverPark Advisors LLC increased its stake in shares of Symbotic by 147.1% during the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company's stock valued at $50,000 after acquiring an additional 1,211 shares during the period. Quest Partners LLC raised its stake in shares of Symbotic by 19,307.7% in the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company's stock worth $62,000 after buying an additional 2,510 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in Symbotic by 28.4% in the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company's stock worth $85,000 after acquiring an additional 774 shares in the last quarter.

Insider Transactions at Symbotic

In other news, CFO Carol J. Hibbard sold 4,055 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total value of $124,488.50. Following the completion of the transaction, the chief financial officer now directly owns 44,386 shares of the company's stock, valued at approximately $1,362,650.20. This represents a 8.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael David Dunn sold 5,365 shares of the business's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $24.60, for a total value of $131,979.00. Following the completion of the sale, the insider now directly owns 31,860 shares in the company, valued at approximately $783,756. This represents a 14.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,007 shares of company stock worth $2,827,909. 0.60% of the stock is currently owned by company insiders.

Symbotic Trading Up 6.9 %

SYM traded up $1.82 during midday trading on Monday, reaching $28.19. The company's stock had a trading volume of 3,506,564 shares, compared to its average volume of 2,697,896. The company has a fifty day simple moving average of $27.13 and a 200 day simple moving average of $26.57. The stock has a market cap of $16.56 billion, a P/E ratio of -402.66, a PEG ratio of 6.45 and a beta of 1.79. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $50.40.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) 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%. Sell-side analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Analysts Set New Price Targets

SYM has been the subject of a number of recent research reports. Northland Securities increased their price objective on Symbotic from $35.00 to $41.00 and gave the company an "outperform" rating in a research report on Friday, January 17th. Craig Hallum downgraded shares of Symbotic from a "buy" rating to a "hold" rating and set a $25.00 price target for the company. in a research report on Wednesday, November 27th. Needham & Company LLC decreased their target price on Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday. Raymond James downgraded shares of Symbotic from an "outperform" rating to a "market perform" rating in a research report on Thursday. Finally, BWS Financial restated a "sell" rating and issued a $10.00 target price on shares of Symbotic in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $38.33.

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.