GSA Capital Partners LLP Buys New Stake in Symbotic Inc. (NASDAQ:SYM)

GSA Capital Partners LLP bought a new stake in Symbotic Inc. (NASDAQ:SYM) in the third quarter, HoldingsChannel.com reports. The fund bought 24,681 shares of the company’s stock, valued at approximately $602,000.

Other institutional investors also recently bought and sold shares of the company. Castleview Partners LLC lifted its position in Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after buying an additional 500 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Symbotic in the third quarter worth $49,000. RFP Financial Group LLC lifted its position in Symbotic by 22.4% in the second quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock worth $59,000 after buying an additional 310 shares during the last quarter. Quarry LP bought a new stake in Symbotic in the second quarter worth $65,000. Finally, Van ECK Associates Corp lifted its position in Symbotic by 28.4% in the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock worth $85,000 after buying an additional 774 shares during the last quarter.

Insider Buying and Selling at Symbotic

In other Symbotic news, insider William M. Boyd III sold 8,826 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $28.33, for a total transaction of $250,040.58. Following the completion of the sale, the insider now directly owns 23,012 shares of the company’s stock, valued at approximately $651,929.96. This represents a 27.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.75, for a total transaction of $37,500.00. Following the transaction, the director now owns 214,036 shares in the company, valued at approximately $4,013,175. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,878 shares of company stock valued at $1,378,056. 38.30% of the stock is currently owned by insiders.

Symbotic Price Performance

NASDAQ:SYM opened at $30.56 on Tuesday. The firm has a market cap of $17.90 billion, a PE ratio of -160.84 and a beta of 1.81. The company has a 50-day moving average of $26.75 and a 200 day moving average of $31.16. Symbotic Inc. has a 1-year low of $17.11 and a 1-year high of $59.82.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SYM shares. Citigroup lowered their target price on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. BWS Financial reissued a “sell” rating and set a $10.00 target price on shares of Symbotic in a research note on Friday, October 11th. TD Cowen lowered their target price on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, Robert W. Baird lowered their target price on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.23.

Symbotic 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.