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

Raymond James & Associates lessened its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 8.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 609,041 shares of the company’s stock after selling 59,062 shares during the period. Raymond James & Associates owned about 0.10% of Symbotic worth $14,855,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SYM. RFP Financial Group LLC lifted its position in Symbotic by 21.2% during the first quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock worth $62,000 after purchasing an additional 242 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Symbotic by 11.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $123,000 after acquiring an additional 284 shares during the period. California State Teachers Retirement System boosted its position in shares of Symbotic by 4.5% during the 1st quarter. California State Teachers Retirement System now owns 15,057 shares of the company’s stock worth $678,000 after acquiring an additional 654 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Symbotic by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock valued at $304,000 after acquiring an additional 679 shares during the last quarter. Finally, First Dallas Securities Inc. raised its position in Symbotic by 4.1% during the second quarter. First Dallas Securities Inc. now owns 20,100 shares of the company’s stock valued at $707,000 after purchasing an additional 800 shares in the last quarter.

Insider Transactions at Symbotic

In other news, Director Todd Krasnow sold 17,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $21.46, for a total value of $364,820.00. Following the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at $4,593,212.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Symbotic news, insider Michael David Dunn sold 1,715 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 87,922 shares in the company, valued at approximately $2,529,515.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Todd Krasnow sold 17,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $21.46, for a total transaction of $364,820.00. Following the transaction, the director now owns 214,036 shares in the company, valued at $4,593,212.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock worth $775,639 over the last three months. 38.30% of the stock is owned by company insiders.

Symbotic Stock Down 4.1 %

Shares of NASDAQ:SYM opened at $27.42 on Friday. The business has a fifty day simple moving average of $23.82 and a 200 day simple moving average of $32.29. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $59.82. The firm has a market cap of $16.06 billion, a P/E ratio of -144.32 and a beta of 1.84.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. The company had revenue of $491.86 million during the quarter, compared to analyst estimates of $464.56 million. During the same period in the prior year, the firm earned ($0.07) earnings per share. Symbotic’s revenue was up 57.7% compared to the same quarter last year. As a group, equities research analysts expect that Symbotic Inc. will post -0.08 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SYM shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a research note on Friday, October 11th. TD Cowen lowered their target price on Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Northland Securities dropped their target price on shares of Symbotic from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Citigroup decreased their price target on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Finally, Craig Hallum dropped their price objective on shares of Symbotic from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.23.

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.