Prospera Financial Services Inc Takes Position in Symbotic Inc. $SYM

Prospera Financial Services Inc acquired a new position in shares of Symbotic Inc. (NASDAQ:SYM) in the second quarter, Holdings Channel reports. The firm acquired 22,168 shares of the company’s stock, valued at approximately $861,000.

A number of other institutional investors also recently added to or reduced their stakes in SYM. Private Trust Co. NA grew its stake in Symbotic by 10.0% in the second quarter. Private Trust Co. NA now owns 2,200 shares of the company’s stock valued at $85,000 after purchasing an additional 200 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Symbotic by 24.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company’s stock valued at $69,000 after buying an additional 342 shares in the last quarter. Swiss National Bank grew its position in shares of Symbotic by 0.9% in the 1st quarter. Swiss National Bank now owns 82,400 shares of the company’s stock worth $1,665,000 after buying an additional 700 shares during the last quarter. Ulland Investment Advisors LLC raised its stake in shares of Symbotic by 45.9% during the 2nd quarter. Ulland Investment Advisors LLC now owns 2,225 shares of the company’s stock worth $86,000 after acquiring an additional 700 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Symbotic by 4.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,208 shares of the company’s stock worth $348,000 after acquiring an additional 757 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SYM. Robert W. Baird downgraded shares of Symbotic from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a research note on Thursday, August 7th. Oppenheimer raised their price objective on Symbotic from $54.00 to $59.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. UBS Group restated a “sell” rating and set a $35.00 target price (up from $27.00) on shares of Symbotic in a research note on Tuesday, September 23rd. Deutsche Bank Aktiengesellschaft lowered Symbotic from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Friday, July 18th. Finally, Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Seven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $44.61.

Insiders Place Their Bets

In other news, insider William M. Boyd III sold 11,735 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $82.09, for a total value of $963,326.15. Following the completion of the transaction, the insider directly owned 26,769 shares in the company, valued at $2,197,467.21. This trade represents a 30.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Todd Krasnow sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $45.64, for a total value of $182,560.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 313,494 shares of company stock valued at $16,178,374. Insiders own 0.60% of the company’s stock.

Symbotic Price Performance

NASDAQ SYM opened at $59.52 on Friday. The company has a market cap of $35.15 billion, a price-to-earnings ratio of -850.16, a PEG ratio of 10.62 and a beta of 2.10. The stock’s fifty day moving average price is $63.17 and its 200 day moving average price is $47.80. Symbotic Inc. has a 1 year low of $16.32 and a 1 year high of $84.00.

About Symbotic

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.