Symbotic Inc. (NASDAQ:SYM) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. grew its position in Symbotic Inc. (NASDAQ:SYM) by 55.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,050 shares of the company’s stock after buying an additional 21,128 shares during the quarter. Raymond James Trust N.A.’s holdings in Symbotic were worth $1,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SYM. Castleview Partners LLC grew its stake in shares of Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after acquiring an additional 500 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Symbotic during the 3rd quarter worth approximately $49,000. RiverPark Advisors LLC raised its holdings in shares of Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after purchasing an additional 1,211 shares in the last quarter. RFP Financial Group LLC grew its stake in shares of Symbotic by 22.4% during the second quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock worth $59,000 after purchasing an additional 310 shares in the last quarter. Finally, Quest Partners LLC raised its stake in Symbotic by 19,307.7% in the third 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 in the last quarter.

Insiders Place Their Bets

In related news, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total transaction of $660,896.16. Following the transaction, the chief financial officer now owns 34,188 shares of the company’s stock, valued at approximately $990,084.48. This represents a 40.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total transaction of $37,500.00. Following the sale, the director now owns 214,036 shares in the company, valued at approximately $4,013,175. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,878 shares of company stock worth $1,378,056. Insiders own 38.30% of the company’s stock.

Symbotic Trading Up 6.9 %

SYM stock opened at $38.79 on Friday. Symbotic Inc. has a 52 week low of $17.11 and a 52 week high of $59.82. The company has a market cap of $22.71 billion, a P/E ratio of -646.42 and a beta of 1.81. The company’s 50-day moving average price is $28.43 and its 200 day moving average price is $31.13.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Symbotic had a positive return on equity of 6.54% and a negative net margin of 0.32%. The company had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. During the same quarter in the prior year, the company earned ($0.08) earnings per share. Symbotic’s revenue was up 47.2% compared to the same quarter last year. On average, equities research analysts expect that Symbotic Inc. will post 0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SYM shares. BWS Financial reissued a “sell” rating and set a $10.00 target price on shares of Symbotic in a research report on Tuesday, November 19th. Needham & Company LLC lifted their price target on shares of Symbotic from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. TD Cowen cut their target price on Symbotic from $55.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Citigroup dropped their price target on Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Finally, Northland Securities increased their price objective on Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Symbotic has an average rating of “Moderate Buy” and an average price target of $44.31.

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.