Quest Partners LLC Purchases 2,510 Shares of Symbotic Inc. (NASDAQ:SYM)

Quest Partners LLC increased its holdings in shares of Symbotic Inc. (NASDAQ:SYM) by 19,307.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,523 shares of the company’s stock after buying an additional 2,510 shares during the period. Quest Partners LLC’s holdings in Symbotic were worth $62,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. RiverPark Advisors LLC lifted its holdings in Symbotic by 147.1% during the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after buying an additional 1,211 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in Symbotic by 76.6% in the third quarter. Oppenheimer & Co. Inc. now owns 13,131 shares of the company’s stock valued at $320,000 after acquiring an additional 5,694 shares during the last quarter. Baillie Gifford & Co. increased its position in Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after purchasing an additional 3,410,050 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Symbotic in the 3rd quarter valued at $602,000. Finally, Atria Investments Inc increased its position in shares of Symbotic by 64.1% during the third quarter. Atria Investments Inc now owns 10,950 shares of the company’s stock worth $267,000 after buying an additional 4,277 shares during the period.

Insider Buying and Selling

In other Symbotic news, insider William M. Boyd III sold 8,826 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $28.33, for a total transaction of $250,040.58. Following the completion of the transaction, the insider now owns 23,012 shares in the company, valued at $651,929.96. This trade represents a 27.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $28.15, for a total transaction of $56,300.00. Following the completion of the transaction, the director now owns 214,036 shares of the company’s stock, valued at $6,025,113.40. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,878 shares of company stock valued at $1,378,056. 38.30% of the stock is owned by company insiders.

Symbotic Stock Up 12.1 %

SYM stock opened at $26.90 on Friday. The business has a 50 day moving average of $28.97 and a 200-day moving average of $30.51. The firm has a market cap of $15.75 billion, a PE ratio of -448.33 and a beta of 1.81. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $58.58.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a positive return on equity of 6.54% and a negative net margin of 0.32%. The business’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) EPS. On average, research analysts expect that Symbotic Inc. will post 0.2 earnings per share for the current year.

Analysts Set New Price Targets

SYM has been the topic of several recent analyst reports. Northland Securities boosted their target price on shares of Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. TD Cowen boosted their price objective on Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. DA Davidson cut Symbotic from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $50.00 to $35.00 in a research note on Wednesday. BWS Financial reissued a “sell” rating and issued a $10.00 price target on shares of Symbotic in a research note on Tuesday, November 19th. Finally, KeyCorp restated a “sector weight” rating on shares of Symbotic in a report on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Symbotic has a consensus rating of “Moderate Buy” and an average price target of $42.69.

About Symbotic

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.