17,300 Shares in Symbotic Inc. $SYM Acquired by Alps Advisors Inc.

Alps Advisors Inc. acquired a new stake in Symbotic Inc. (NASDAQ:SYM) during the third quarter, Holdings Channel.com reports. The firm acquired 17,300 shares of the company’s stock, valued at approximately $728,000.

Other institutional investors have also modified their holdings of the company. GK Wealth Management LLC acquired a new stake in Symbotic in the third quarter valued at $26,000. Toth Financial Advisory Corp raised its holdings in Symbotic by 88.7% during the third quarter. Toth Financial Advisory Corp now owns 632 shares of the company’s stock worth $27,000 after purchasing an additional 297 shares in the last quarter. Nykredit A S purchased a new stake in Symbotic in the second quarter valued at $89,000. Western Wealth Management LLC acquired a new stake in shares of Symbotic in the 1st quarter valued at about $113,000. Finally, Centaurus Financial Inc. increased its position in Symbotic by 62.1% in the 1st quarter. Centaurus Financial Inc. now owns 2,814 shares of the company’s stock valued at $150,000 after acquiring an additional 1,078 shares during the period.

Insider Activity

In related news, insider William Boyd, III sold 9,194 shares of Symbotic stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $38.83, for a total transaction of $357,003.02. Following the transaction, the insider directly owned 57,112 shares of the company’s stock, valued at $2,217,658.96. The trade was a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian Alexander sold 9,225 shares of the company’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $38.26, for a total value of $352,948.50. Following the completion of the transaction, the senior vice president directly owned 66,959 shares in the company, valued at $2,561,851.34. This represents a 12.11% decrease in their position. 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 sold a total of 63,371 shares of company stock worth $2,475,076 in the last quarter. 8.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SYM. Jefferies Financial Group assumed coverage on shares of Symbotic in a report on Wednesday. They set a “hold” rating and a $35.00 price target for the company. Needham & Company LLC cut their price target on Symbotic from C$75.00 to C$60.00 and set a “buy” rating for the company in a report on Tuesday, September 15th. Robert W. Baird set a $51.00 price objective on Symbotic in a report on Thursday, August 6th. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, September 21st. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $63.46.

Symbotic Price Performance

Shares of SYM opened at $34.83 on Friday. Symbotic Inc. has a 12 month low of $33.17 and a 12 month high of $87.88. The company has a market cap of $21.07 billion, a P/E ratio of 393.78, a PEG ratio of 3.35 and a beta of 2.06. The stock has a fifty day moving average price of $40.59 and a 200 day moving average price of $46.82.

Symbotic Company Profile

Symbotic Inc. develops and deploys automated systems for warehouses and distribution centers. Its technology combines software, artificial intelligence and robotics to help customers move and manage goods through facilities. The company’s systems include high-density storage, autonomous mobile robots and automated solutions for tasks such as retrieving, sorting and building pallets of products. Symbotic also provides software to coordinate these operations and integrate them with customers’ supply-chain processes.