Taylor Frigon Capital Management LLC grew its position in Symbotic Inc. (NASDAQ:SYM - Free Report) by 18.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,233 shares of the company's stock after buying an additional 13,104 shares during the period. Taylor Frigon Capital Management LLC's holdings in Symbotic were worth $1,973,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. IFP Advisors Inc raised its position in Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after buying an additional 503 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Symbotic during the 3rd quarter valued at about $49,000. RiverPark Advisors LLC boosted its position in shares of 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 acquiring an additional 1,211 shares during the last quarter. Quest Partners LLC raised its holdings in Symbotic by 19,307.7% in the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company's stock valued at $62,000 after buying an additional 2,510 shares during the period. Finally, Van ECK Associates Corp increased its stake in Symbotic by 28.4% during the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company's stock worth $85,000 after purchasing an additional 774 shares during the period.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Raymond James lowered shares of Symbotic from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. Craig Hallum cut Symbotic from a "buy" rating to a "hold" rating and set a $25.00 price objective for the company. in a research report on Wednesday, November 27th. Northland Securities raised their price target on Symbotic from $35.00 to $41.00 and gave the company an "outperform" rating in a research report on Friday, January 17th. William Blair reissued a "market perform" rating on shares of Symbotic in a research note on Thursday, December 5th. Finally, Citigroup reiterated a "buy" rating and set a $37.00 target price on shares of Symbotic in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $38.20.
Get Our Latest Research Report on Symbotic
Insider Transactions at Symbotic
In other news, insider Michael David Dunn sold 63,867 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $30.08, for a total transaction of $1,921,119.36. Following the sale, the insider now directly owns 24,055 shares of the company's stock, valued at $723,574.40. The trade was a 72.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rollin L. Ford sold 28,740 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.02, for a total value of $747,814.80. Following the sale, the director now directly owns 10,447 shares in the company, valued at $271,830.94. This trade represents a 73.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,854 shares of company stock valued at $3,986,371. Corporate insiders own 0.60% of the company's stock.
Symbotic Price Performance
NASDAQ:SYM traded down $0.24 during midday trading on Friday, reaching $22.70. 1,739,853 shares of the company traded hands, compared to its average volume of 2,332,142. Symbotic Inc. has a twelve month low of $17.11 and a twelve month high of $50.40. The firm has a market capitalization of $13.36 billion, a price-to-earnings ratio of -324.24, a price-to-earnings-growth ratio of 6.48 and a beta of 1.79. The company has a fifty day moving average price of $27.10 and a 200 day moving average price of $26.53.
Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. On average, equities research analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal 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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