Symbotic Inc. (NASDAQ:SYM) Shares Sold by MML Investors Services LLC

MML Investors Services LLC trimmed its stake in Symbotic Inc. (NASDAQ:SYM) by 10.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,292 shares of the company’s stock after selling 1,144 shares during the quarter. MML Investors Services LLC’s holdings in Symbotic were worth $251,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Castleview Partners LLC boosted its position in shares of Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares during the period. Arcadia Investment Management Corp MI acquired a new position in shares of Symbotic in the third quarter worth about $49,000. RiverPark Advisors LLC increased its position in shares of Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after acquiring an additional 1,211 shares in the last quarter. Quest Partners LLC raised its holdings in shares of Symbotic by 19,307.7% during the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after acquiring an additional 2,510 shares during the period. Finally, Quarry LP purchased a new stake in shares of Symbotic in the 2nd quarter valued at approximately $65,000.

Insider Activity

In other news, insider Michael David Dunn sold 63,867 shares of Symbotic stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $30.08, for a total value of $1,921,119.36. Following the transaction, the insider now directly owns 24,055 shares in the company, valued at approximately $723,574.40. The trade was a 72.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $28.15, for a total value of $56,300.00. Following the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at $6,025,113.40. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,745 shares of company stock valued at $3,261,675 over the last 90 days. 38.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SYM. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research report on Tuesday, November 19th. BWS Financial reissued a “sell” rating and set a $10.00 price target on shares of Symbotic in a research report on Tuesday, November 19th. The Goldman Sachs Group decreased their price objective on Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, December 4th. TD Cowen upped their target price on Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, KeyCorp restated a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Symbotic currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.54.

Symbotic Trading Down 3.8 %

SYM stock opened at $24.55 on Thursday. The firm has a market cap of $14.42 billion, a PE ratio of -409.17 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 company has a fifty day simple moving average of $29.32 and a 200 day simple moving average of $28.58.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The company had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The firm’s revenue was up 47.2% on a year-over-year basis. As a group, analysts forecast that Symbotic Inc. will post 0.12 EPS for the current fiscal year.

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.