Symbotic Inc. (NASDAQ:SYM) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC grew its holdings in Symbotic Inc. (NASDAQ:SYM) by 9.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,338 shares of the company’s stock after buying an additional 2,033 shares during the quarter. HighTower Advisors LLC’s holdings in Symbotic were worth $568,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Castleview Partners LLC lifted its position in shares of Symbotic by 50.0% during the 3rd 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 period. Arcadia Investment Management Corp MI purchased a new position in Symbotic in the 3rd quarter valued at approximately $49,000. RiverPark Advisors LLC raised its holdings in Symbotic by 147.1% during the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after purchasing an additional 1,211 shares during the last quarter. Quest Partners LLC boosted its position in Symbotic by 19,307.7% during the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after purchasing an additional 2,510 shares in the last quarter. Finally, Quarry LP acquired a new stake in Symbotic in the second quarter valued at $65,000.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SYM. The Goldman Sachs Group reduced their target price on Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research note on Tuesday, November 19th. DA Davidson downgraded shares of Symbotic from a “buy” rating to a “neutral” rating and cut their target price for the company from $50.00 to $35.00 in a research note on Wednesday, November 27th. KeyCorp reaffirmed a “sector weight” rating on shares of Symbotic in a research note on Wednesday, November 27th. Finally, Northland Securities boosted their price objective on shares of Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. 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, Symbotic has an average rating of “Moderate Buy” and a consensus price target of $42.54.

Symbotic Stock Performance

Shares of SYM stock opened at $23.99 on Friday. The firm has a market capitalization of $14.09 billion, a PE ratio of -399.83 and a beta of 1.73. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $57.16. The stock has a fifty day moving average of $29.46 and a two-hundred day moving average of $28.91.

Symbotic (NASDAQ:SYM) last announced its earnings results 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 analyst estimates of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. Symbotic’s revenue was up 47.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. Equities research analysts predict that Symbotic Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Michael David Dunn sold 1,715 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was 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 owns 87,922 shares of the company’s stock, valued at $2,529,515.94. This trade represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $23.96, for a total value of $47,920.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $47,920. This represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,745 shares of company stock worth $3,261,675 over the last 90 days. 38.30% of the stock is currently owned by company insiders.

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.