23,152 Shares in Symbotic Inc. $SYM Purchased by Fund Advisors of America Inc FL

Fund Advisors of America Inc FL bought a new position in Symbotic Inc. (NASDAQ:SYM) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 23,152 shares of the company’s stock, valued at approximately $1,378,000. Symbotic comprises approximately 1.3% of Fund Advisors of America Inc FL’s portfolio, making the stock its 23rd biggest position.

Several other institutional investors have also modified their holdings of SYM. MAI Capital Management boosted its position in shares of Symbotic by 833.3% during the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after purchasing an additional 268 shares during the period. Quarry LP acquired a new position in Symbotic in the 4th quarter valued at about $36,000. Parallel Advisors LLC boosted its holdings in Symbotic by 67.3% in the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after purchasing an additional 249 shares during the last quarter. Finally, Ameriflex Group Inc. grew its stake in shares of Symbotic by 1,500.0% in the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock valued at $38,000 after buying an additional 660 shares during the period.

Symbotic Stock Performance

Shares of SYM opened at $41.68 on Friday. Symbotic Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $87.88. The company has a market capitalization of $25.12 billion, a PE ratio of -833.43, a price-to-earnings-growth ratio of 6.15 and a beta of 1.91. The stock has a fifty day moving average of $51.69 and a two-hundred day moving average of $55.95.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). The business had revenue of $676.48 million for the quarter, compared to analyst estimates of $662.65 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period last year, the company posted ($0.04) EPS. As a group, equities research analysts forecast that Symbotic Inc. will post 0.23 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $47.30, for a total value of $94,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO James Kuffner sold 3,878 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.51, for a total value of $207,511.78. Following the completion of the sale, the chief technology officer owned 185,126 shares of the company’s stock, valued at $9,906,092.26. This trade represents a 2.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 144,431 shares of company stock valued at $8,141,204 over the last three months. Company insiders own 8.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SYM shares. DA Davidson restated a “buy” rating and issued a $70.00 price target on shares of Symbotic in a research note on Monday, May 11th. Barclays lifted their target price on Symbotic from $42.00 to $44.00 and gave the company an “underweight” rating in a report on Monday, March 16th. Wall Street Zen cut Symbotic from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings downgraded Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, The Goldman Sachs Group reduced their price target on Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a research report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Symbotic presently has a consensus rating of “Hold” and an average target price of $65.23.

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.