Arta Finance Wealth Management LLC Buys New Shares in Symbotic Inc. $SYM

Arta Finance Wealth Management LLC purchased a new position in Symbotic Inc. (NASDAQ:SYM) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 18,945 shares of the company’s stock, valued at approximately $1,127,000.

Several other institutional investors have also recently made changes to their positions in SYM. MAI Capital Management increased its holdings in Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares in the last quarter. Ameriflex Group Inc. boosted its position in shares of Symbotic by 1,500.0% in the third quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after purchasing an additional 660 shares during the period. Strategic Advocates LLC bought a new position in shares of Symbotic in the third quarter worth approximately $42,000. NewEdge Advisors LLC increased its stake in shares of Symbotic by 81.5% in the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock worth $50,000 after purchasing an additional 573 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Symbotic by 20,000.0% in the third quarter. Fifth Third Bancorp now owns 1,005 shares of the company’s stock worth $54,000 after purchasing an additional 1,000 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SYM shares. Northland Securities set a $73.00 target price on shares of Symbotic in a research note on Thursday, February 5th. Barclays raised their price target on Symbotic from $42.00 to $44.00 and gave the company an “underweight” rating in a report on Monday, March 16th. Citigroup restated an “outperform” rating on shares of Symbotic in a research report on Thursday, February 5th. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, DA Davidson increased their target price on Symbotic from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $64.62.

Insider Activity

In related news, insider Maria G. Freve sold 8,306 shares of the stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $55.11, for a total transaction of $457,743.66. Following the completion of the transaction, the insider directly owned 539 shares of the company’s stock, valued at approximately $29,704.29. This represents a 93.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William M. Boyd III sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 195,492 shares of company stock valued at $11,516,194. 8.16% of the stock is owned by corporate insiders.

Symbotic Stock Performance

Shares of NASDAQ:SYM opened at $53.37 on Friday. The firm has a market cap of $32.14 billion, a price-to-earnings ratio of -533.65, a P/E/G ratio of 5.35 and a beta of 2.10. The firm has a fifty day moving average price of $53.96 and a 200 day moving average price of $61.15. Symbotic Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $87.88.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). The company had revenue of $629.99 million during the quarter, compared to the consensus estimate of $622.58 million. Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The business’s revenue was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. As a group, research analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current year.

Symbotic Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.