Farther Finance Advisors LLC Lowers Position in Symbotic Inc. (NASDAQ:SYM)

Farther Finance Advisors LLC lessened its holdings in Symbotic Inc. (NASDAQ:SYM) by 39.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,221 shares of the company’s stock after selling 792 shares during the period. Farther Finance Advisors LLC’s holdings in Symbotic were worth $30,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Castleview Partners LLC increased its stake in Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares during the last quarter. RFP Financial Group LLC increased its stake in Symbotic by 22.4% in the second quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock valued at $59,000 after acquiring an additional 310 shares during the last quarter. Quarry LP bought a new position in Symbotic in the second quarter valued at $65,000. Natixis Investment Managers International bought a new position in Symbotic in the first quarter valued at $90,000. Finally, Van ECK Associates Corp increased its stake in Symbotic by 109.5% in the second quarter. Van ECK Associates Corp now owns 2,723 shares of the company’s stock valued at $96,000 after acquiring an additional 1,423 shares during the last quarter.

Insiders Place Their Bets

In other news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.75, for a total transaction of $37,500.00. Following the completion of the transaction, the director now directly owns 214,036 shares in the company, valued at approximately $4,013,175. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael David Dunn sold 1,715 shares of Symbotic stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $28.77, for a total transaction of $49,340.55. Following the transaction, the insider now owns 87,922 shares of the company’s stock, valued at $2,529,515.94. The trade was a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,878 shares of company stock worth $1,378,056 over the last three months. Company insiders own 38.30% of the company’s stock.

Analyst Ratings Changes

SYM has been the topic of a number of recent research reports. Robert W. Baird reduced their price objective on Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. KeyCorp reduced their price objective on Symbotic from $55.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research note on Friday, October 11th. Craig Hallum reduced their price objective on Symbotic from $54.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Finally, Citigroup reduced their price objective on Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.23.

Symbotic Trading Down 1.5 %

Symbotic stock opened at $29.49 on Friday. Symbotic Inc. has a 1-year low of $17.11 and a 1-year high of $59.82. The firm has a 50-day moving average of $26.52 and a 200-day moving average of $31.34. The firm has a market cap of $17.27 billion, a P/E ratio of -155.21 and a beta of 1.81.

Symbotic Company 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.