State Street Corp Has $7.79 Million Stock Holdings in Symbotic Inc. (NASDAQ:SYM)

State Street Corp boosted its position in Symbotic Inc. (NASDAQ:SYM) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 319,235 shares of the company’s stock after acquiring an additional 7,990 shares during the period. State Street Corp owned 0.05% of Symbotic worth $7,786,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new stake in shares of Symbotic during the 3rd quarter valued at $219,000. Quarry LP boosted its position in shares of Symbotic by 89.9% in the 3rd quarter. Quarry LP now owns 3,508 shares of the company’s stock worth $86,000 after purchasing an additional 1,661 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Symbotic by 9.5% during the third quarter. HighTower Advisors LLC now owns 23,338 shares of the company’s stock worth $568,000 after purchasing an additional 2,033 shares during the period. Holocene Advisors LP bought a new stake in Symbotic in the third quarter valued at about $1,201,000. Finally, Arete Wealth Advisors LLC acquired a new position in Symbotic in the third quarter valued at about $311,000.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. KeyCorp restated a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. DA Davidson cut shares of Symbotic from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $50.00 to $35.00 in a report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research note 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. Finally, TD Cowen upped their price objective on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.54.

Insider Transactions at Symbotic

In other news, insider Michael David Dunn sold 1,715 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 87,922 shares in the company, valued at $2,529,515.94. This trade represents a 1.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the company’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 sale, the director now owns 214,036 shares in the company, 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. 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 owned by corporate insiders.

Symbotic Price Performance

SYM opened at $24.08 on Friday. The company has a market capitalization of $14.15 billion, a price-to-earnings ratio of -401.33 and a beta of 1.73. The business’s 50-day moving average price is $29.02 and its two-hundred day moving average price is $28.43. Symbotic Inc. has a 1 year low of $17.11 and a 1 year high of $54.67.

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. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The business had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. During the same quarter last year, the firm earned ($0.08) EPS. Symbotic’s revenue for the quarter was up 47.2% compared to the same quarter last year. Sell-side analysts anticipate that Symbotic Inc. will post 0.12 earnings per share 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.